- Summary:
- Nvidia stock price is on a strong upward momentum after the company announced four key products that cement its hold on the AI race.
Nvidia stock price continued with its hot streak in Tuesday’s pre-market trading session as investors continued to jostle for a piece of the company following its CEO’s upbeat pronouncements. Nvidia (NASDAQ: NVDA) was up by 2.10% to trade at $152.58 ahead of market opening. That meant that it has risen by more than 10% in the last five sessions, underlining a strong bullish sentiment.
The four key announcements that fired up Nvidia stock price
The company’s CEO Jensen Huang made four key announcements at the CES 2025 Conference in Las Vegas on Monday Night, all of which pointed to strong growth in the company’s revenues. Importantly, they have injected new propulsion fuel into Nvidia stock price.
First, Nvidia is making a milestone move into the PC market via a “personal AI computer” christened Digits. The product will hit stores in May 2025 at $3,000 a piece. Despite its high price tag, the AI-optimised performance could disrupt the current high-end computer market and the cloud computing market significantly.
Huang also revealed that the company has signed a deal with vehicle manufacturing giant, Toyota. The deal will see Toyota use Nvidia’s Origin chips on its next-generation self-driving cars. The third major announcement was the introduction of its high-performance Blackwell AI chips into the gaming market.
The company says that the chips will bring movie-like graphics to gaming and will begin shipping from late January with a price tag ranging from $549 to $1,999. The fourth key announcement by the Nvidia CEO was a technology that will speed up training of robots, a niche market also targeted by EV giant, Tesla.
The latest developments are likely to keep NVDA stock price on the ascending trajectory in the coming weeks. Significantly, they bring a substantial shift in use cases of AI technology, which solidifying the industry’s huge growth potential. Critics have been arguing that AI chips were yet to prove their market worthiness outside generative AI, a factor that coud have limited the sector’s growth headroom.
Nvidia stock price prediction
The momentum on Nvidia stock price calls for more upside above the pivot mark at $151.05. That will likely see the first resistance encountered at $154.90. However, if the buyers extend their control, NVDA could break above that barrier and test $157.50.
Alternatively, the sellers will take control if the price breaks below $151.05. With that, Nvidia stock price could find initial support at $148.25. However, a stronger downward momentum could break below that level, invalidating the upside narrative and potentially extending the downside to test $144.90.
