Following analysts’ expectations, Nvidia shares rose by more than 4% on the Nasdaq Stock Exchange

NVIDIA’s stock on the Nasdaq Stock Exchange rose by 4.14 at 7:15 GMT, following analysts’ expectations. The stock is trading at $137.71, and its highest price up to that time was $138.5, while its lowest price since the beginning of the session was $135.46.

This came after analysts recommended the company’s stock yesterday as a technology company that designs and manufactures graphics processing units for the gaming and professional markets. It also develops artificial intelligence platforms, high-performance computing solutions, and self-driving car technologies to operate industries such as games, data centers, and cars.

Analysts pointed out that the compound annual growth rate of the company’s revenues over 5 years was 62.43%, and they estimated the chances of an increase of 30.72%, starting from its price in the middle of this month.

It is noteworthy that Bank of America recently maintained its target price for the company at $190, indicating a potential rise of 27%.

This optimism is due to the release of Blackwell GPUs, which have already received 12 months of orders, and at CES 2025, the company unveiled the new DIGITS project, a personal artificial intelligence supercomputer powered by the new GB10 Grace Blackwell Superchip.

The new project’s combined system provides petaflop-level AI performance while running on standard household electricity. The DIGITS project is designed to enable researchers, data scientists, and students to develop and run large AI models locally. With 128GB of memory and up to 4TB of storage, the system is well-equipped to handle demanding AI workloads.

The company’s financial performance was good, as it achieved record revenues amounting to $35.1 billion in the third quarter of the fiscal year 2024, a growth of 94% on an annual basis.

This was supported by the growth of its data center revenues by 112%, which more than doubled to $30.8 billion, and graphics processing unit revenues also achieved strong growth of 67% annually over 3 years with the acceleration of demand for computing power and developments in the field of artificial intelligence and machine learning.