Why Nvidia stock popped again today

Actions of Nvidia (NVDA 4.05%) gained for the fifth day in a row as excitement continued to grow on Wall Street and among its clients for the new Blackwell platform. Additionally, the company’s artificial intelligence (AI) summit was held on the second day.

The news was enough to send Nvidia up 4.1% at the close.

Image source: Getty Images.

Nvidia shines again

Wall Street continued to raise its estimates on the AI ​​chip leader, and the news also said Foxconn and Nvidia are building Taiwan’s largest supercomputer built on the new Blackwell platform. Additionally, Foxconn is building the world’s largest manufacturing facility for the Nvidia GB200 superchip cluster in Mexico.

The move should help reassure investors and customers that Nvidia has an adequate supply of the new Blackwell components and shows the company is diversifying away from Taiwan, which will help protect supplies from potential Chinese mix-ups.

Nvidia’s vice president and general manager of enterprise platforms, Bob Pette, also talked about the power of the company’s accelerated computing stack in his keynote address at the Nvidia AI Summit. Pette told the audience, “We are at the dawn of a new industrial revolution,” and said the Blackwell platform improves both performance and energy efficiency.

Finally, Nvidia continued to earn praise from Wall Street, as Cantor Fitzgerald said Nvidia’s updated investor presentation sets up a revitalization for the stock. information also said its latest $6.6 billion funding round will spark another wave of AI investment.

Can Nvidia keep climbing?

Fears of an AI bubble appear to be easing following OpenAI’s funding round, which brought its valuation to $157 billion, and falling interest rates should help boost spending on AI infrastructure.

We’ll soon take a look at AI stock’s third-quarter results, such as Microsoft and Alphabetand adzeIts robotaxi event on Thursday should also provide insight into the potential of autonomous vehicles.

Nvidia’s business continues to thrive and is likely to report another breakout quarter next month. There is room for the stock to move higher, but investors should expect the stock to remain volatile.