CES Anticipation and AI Chip Boom Drive Investor Excitement!

Rising as much as 4.7% on Monday, Nvidia (NASDAQ:NVDA) shares exceeded $151 and set the stock on path for a record close ahead of CEO Jensen Huang’s keynote speech at the annual Consumer Electronics Show (CES), in Las Vegas. November 7, 2024 saw the previous record close for the stock at $148.88.Scheduled at 6:20 p.m. PST, Huang’s keynote is hotly anticipated by analysts and investors seeking understanding of Nvidia’s place in the growing artificial intelligence sector. Usually, Nvidia utilizes CES to unveil major new product announcements, such the release of fresh gaming and AI-oriented graphics chips last year.As Nvidia increases manufacturing of its Blackwell AI chipswhich experts estimate might have a $100 billion market potentialthis year’s event coincides with this process. Following first disappointments resulting from a design defect and overheating reports, Nvidia said during its November earnings call that shipments of Blackwell chips are ahead of schedule, therefore inspiring hope about a new demand cycle.Following a disappointing close to 2024, Nvidia led a rebound among key tech companies, including the so-called “Magnificent Seven,” so extending gains from the previous week’s Monday surge.Keynotes by Huang will be livestreamed on LinkedIn, Facebook, and YouTube. Given ongoing concerns over artificial intelligence expenditure, it is likely to offer investors vital information.

This article first appeared on GuruFocus.