Nvidia ($NVDA) Nears All-Time Highs at $140.76 with $3.4 Trillion Market Cap Amid Strong AI Demand

Oct 14, 2024, 10:52 AM

Nvidia Corporation (NVDA) is on the brink of reaching new all-time highs, driven by strong demand for its AI-focused products and positive market sentiment. The company's stock has surged by 7.9% over the past week, closing at a record high. Analysts from Citi have maintained a buy rating with a price target of $150, citing strong cloud growth and the company's leadership in AI technology. Nvidia's latest product, the Blackwell DGX B200, priced at half a million dollars, is seen as a game-changer in the AI industry. Additionally, Taiwan Semiconductor Manufacturing Company (TSMC) plans to expand its chip manufacturing plants in Europe, focusing on AI and automotive sectors, further boosting the AI market. TSMC's new fabs in Germany are part of this expansion, aiming to diversify production and reduce reliance on Asia. Nvidia's market cap is now at $3.4 trillion, with the stock trading close to the $140.76 mark, and contributing significantly to the S&P 500’s market cap gains.