Nvidia's (NVDA, Financial) stock hit a fresh peak—topping $154.97—driven by Jensen Huang's bullish vision for AI and robotics, and a rally that pushed its market cap above $3.7 trillion, briefly reclaiming the title of the world's most valuable company.
On Wednesday, NVDA shares climbed about 4.3% to close at $154.31, marking an all-time high after CEO Jensen Huang outlined multitrillion-dollar opportunities in AI, robotics, autonomous vehicles, and smart factories.
That optimism was bolstered by Loop Capital's Ananda Baruah, who boosted his price target from $175 to $250, citing an anticipated $2 trillion spend by hyperscalers on AI infrastructure by 2028. Nvidia's latest quarterly results already showcased a 69% year-over-year revenue surge, led by a 73% gain in its data-center business.
Nvidia's rally isn't just a stock story—it reflects a broader tech leadership battle. Microsoft (MSFT, Financial) and Apple (AAPL, Financial) have each held the top market-cap slot this year, but Nvidia's AI-driven momentum underlines how critical specialized processors have become to cloud services, autonomous systems, and next-gen manufacturing.
With NVDA up over 12% in June alone—and outpacing the ~2.6% gain in the broader Nasdaq—the chipmaker's AI-first strategy continues to captivate investors. All eyes now turn to whether Nvidia can sustain this pace, as valuation debates swirl around its lofty growth expectations.
