NVIDIA (NVDA, Financial) shares rose to $143.28, nearing its record high of $149.43. Two significant catalysts are in focus: CEO Jensen Huang's speech at a Paris conference and the US-China trade talks ongoing in London. NVIDIA's stock has risen in five of the last six trading days, reaching its highest level since January's end. The stock closed about 4.6% off its record high.
Investors are keenly watching Jensen Huang's address in Paris. As a leader in AI, Huang's remarks could provide market direction. Tech stocks lead gains amid AI-driven transformation, with programming roles increasingly replaced by AI. Market strategists, including Louis Navellier, suggest that geopolitical risks are less likely to impact corporate profits significantly. NVIDIA's increased investment in Europe, including a collaboration with HP (HPE) and Leibniz Supercomputing Centre on the "Blue Lion" supercomputer using NVIDIA's Vera Rubin chips, boosts market confidence.
The US-China trade negotiations are crucial for NVIDIA and other chipmakers, as tariff reductions could ease global trade tensions, benefiting tech companies reliant on global supply chains. A resolution could lower operating costs and enhance profit margins. Currently, the S&P 500 is maintaining its position above the symbolic 6,000-point mark, with a year-to-date rise of 2.1%, while the Nasdaq has gained 2.6%. The AI trend could propel NVIDIA stock to new highs.
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