Nvidia (NVDA) stock rose as much as 2.5% early Tuesday following CEO Jensen Huang’s keynote at the tech industry’s annual CES trade show in Las Vegas late Monday, putting shares on track to extend gains after notching a record close to start the week.
Huang’s presentation gave a flurry of updates on upcoming Nvidia products that preview what’s next in the burgeoning artificial intelligence market and other emerging technologies.
The biggest update from the AI chipmaker was a new, pint-sized artificial intelligence superchip called GB10 used in its (also new) client supercomputer.
The supercomputer — sized to fit on the average-sized desk — is part of Nvidia’s Project DIGITS announced Monday, advertised to developers, researchers, and students, and the device will be available in May for $3,000.
Nvidia shares closed at a record high of $149.43 Monday ahead of Huang’s keynote — eclipsing its prior record close of $148.88 reached back on Nov. 7.
Analysts at Stifel, Wedbush, and Truist Securities on Tuesday reiterated their Buy ratings on the stock. On average, Wall Street analysts tracked by Yahoo Finance see Nvidia shares rising to $172.80 over the next 12 months.
Nvidia also unveiled major updates about its robotics strategy. The chip giant debuted its Cosmos platform with AI models for developing humanoid robots as well as autonomous vehicles.
Wedbush analyst and Nvidia bull Dan Ives said he sees robotics and autonomous technology representing a $1 trillion market for the company. Huang put that number higher in his keynote, saying that autonomous driving technologies alone “will likely be the first multi-trillion-dollar robotics industry.”
Additionally, Nvidia showcased new Blackwell-generation gaming GPUs (graphics processing units) and applications for developers to launch their own custom AI agents. Yahoo Finance’s Dan Howley reported that Nvidia could debut a successor to its Blackwell generation AI chips during its GTC conference in March.
“[T]he company continues to position itself more favorably — not just in the datacenter but increasingly at all areas of the edge — from client compute to autonomous vehicles to robotics — supporting revenue growth and our Buy rating on the stock,” wrote Truist Securities analyst William Stein in a note to investors Tuesday morning.
Laura Bratton is a reporter for Yahoo Finance. Follow her on X @LauraBratton5.
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