Nvidia's stock is experiencing an uptick today, driven by several positive developments. The company recently launched its Jetson Orin Nano Super Developer Kit, a compact AI supercomputer priced at $249, which offers a 1.7x improvement in generative AI performance over its predecessor. This new product is aimed at AI developers and hobbyists, providing enhanced performance and reduced costs, which has been well-received by the market. Additionally, Nvidia's shares are benefiting from news that Microsoft has acquired twice as many Nvidia AI chips as its biggest rivals this year, highlighting strong demand for Nvidia's products in the AI space.
Furthermore, analysts remain optimistic about Nvidia's future prospects. Citi Research has noted continued momentum for Nvidia's GPUs, despite concerns about competition from ASICs. The company's CoWoS foundry capacity allocation is expected to grow, indicating robust demand for its products. This positive sentiment is echoed by KeyBanc analyst John Vinh, who maintains an Overweight rating on Nvidia, citing the potential of its upcoming Blackwell chips to drive higher prices and superior AI training capabilities.
Nvidia's stock is currently trading at $135.62, up 4.01% from its previous close of $130.39, and has seen a 1.31% increase from its opening price of $133.87.