Market Performance and Projections
's stock closed at a record high of $138.07, buoyed by strong demand for its Blackwell AI chips and positive analyst outlooks, marking a significant year-to-date gain of 180%.
Analysts from and have raised their price targets for Nvidia, reflecting confidence in its dominance in the AI sector and the anticipated doubling of its AI chip sales to tech giants this year.
AI Chip Demand and Sector Impact
The Blackwell AI chips, in high demand and reportedly booked out for a year, have solidified Nvidia's position as a key player in the AI boom, with its GPUs heavily utilized by major tech companies.
The broader technology sector, particularly AI-related stocks, has seen a revival, with investors optimistic about AI's long-term impact on productivity and growth, as evidenced by strong earnings from chipmakers like .