Actions of NVIDIA (NASDAQ: NVDA) won for the fifth day in a row, as enthusiasm continued to build on Wall Street and among its clients for the new Blackwell platform. Additionally, the company’s artificial intelligence (AI) summit continued on its second day.
That news was enough to push Nvidia up 4.1% at the market close.
Nvidia shines again
Wall Street continued to raise its estimates for the AI chip leader, and it also emerged that Foxconn and Nvidia are building Taiwan’s largest supercomputer, built on the new Blackwell platform. Additionally, Foxconn is building the world’s largest manufacturing facility to package Nvidia’s GB200 Superchips in Mexico.
The move should help assure investors and customers that Nvidia has an adequate supply of Blackwell’s new components and shows the company diversifying outside of Taiwan, which will help protect that supply from potential Chinese meddling.
Nvidia Vice President and General Manager of Enterprise Platforms Bob Pette also discussed the power of the company’s accelerated computing stack in his keynote speech at the Nvidia AI Summit. Pette told the audience, “We are at the dawn of a new industrial revolution,” and stated that the Blackwell platform improves both performance and energy efficiency.
Finally, Nvidia continued to earn praise from Wall Street, as Cantor Fitzgerald said Nvidia’s updated investor presentation sets up a revitalization of the stock. The information He also said the latest $6.6 billion funding round would trigger another wave of AI investments.
Can Nvidia continue to rise?
Fears of an AI bubble appear to be easing after OpenAI’s funding round raised its valuation to $157 billion, and falling interest rates should help boost spending on AI infrastructure.
We’ll soon see Q3 results for AI stocks like microsoft and Alphabetand teslaThursday’s robotaxi event should also provide insight into the potential of autonomous vehicles.
Nvidia’s business continues to thrive and will likely report another spectacular quarter next month. There is room for the stock to rise, but investors should expect it to remain volatile.
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Alphabet executive Suzanne Frey is a member of The Motley Fool’s board of directors. Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has positions and recommends Alphabet, Microsoft, Nvidia and Tesla. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
Why Nvidia Stock Popped Again Today was originally published by The Motley Fool