NVIDIA Corporation ($NVDA) Stock Forecast: Up 5.8% Today

What is NVIDIA Corporation?

A leading technology company, NVIDIA Corporation (NVDA), is renowned for its graphics processing units (GPUs) utilized in various sectors like gaming, professional visualization, data centers, and automotive industries. Today, the stock demonstrated a robust bullish movement.

Why is NVIDIA Corporation going up?

NVDA stock is up 5.8% on Oct 3, 2024 13:46

• CEO Jensen Huang has stated that the demand for Nvidia's upcoming Blackwell GPU platform is exceptionally high ('insane'), hinting at strong interest and potential future sales growth.
• A strategic collaboration with Accenture to deploy AI agents in corporate settings is expected to spur the adoption of Nvidia's technology, potentially increasing revenues.
• Industry analysts are positive about Nvidia's position in the AI sector and the partnership with Accenture, predicting significant market expansion and faster adoption of AI technologies factors likely contributing to the upward movement in the stock price.
• By establishing the Accenture NVIDIA Business Group in an expanded partnership, Nvidia underscores its dedication to growing its footprint in the AI market, bolstering investor confidence and propelling the stock price upwards.

NVDA Price Chart

NVDA News

Nvidia CEO Jensen Huang Says Demand For Next-Gen Blackwell GPU Platform Insane: 'Everyone Wants To Have The Most, And Everyone Wants To Be First' - NVIDIA ( NASDAQ:NVDA )

On Wednesday, Jensen Huang, CEO of Nvidia Corporation NVDA said that the demand for the company's next-gen Blackwell GPU platform is "insane." What Happened: Huang was on CNBC's Closing Bell Overtime, alongside Julie Sweet, CEO of Accenture, to discuss their expanded partnership.

https://www.benzinga.com/news/24/10/41156900/nvidia-ceo-jensen-huang-says-demand-for-next-gen-blackwell-gpu-platform-insane-everyone-wants-to-hav

Jensen Huang On Transformative Partnership With Accenture: AI As 'Digital Employees' Will Revolutionize Productivity - NVIDIA ( NASDAQ:NVDA ) , Accenture ( NYSE:ACN )

NVIDIA Corp NVDA CEO Jensen Huang and Accenture ACN CEO Julie Sweet revealed details of their transformative partnership, in an announcement to reshape the landscape of artificial intelligence in business. The collaboration aims to deploy AI agents across corporations, potentially ushering in a ...

https://www.benzinga.com/markets/equities/24/10/41156669/jensen-huang-on-transformative-partnership-with-accenture-ai-as-digital-employees-will-revolutio

Nvidia ( NVDA ) Laps the Stock Market: Here's Why

Nvidia (NVDA) closed at $118.85 in the latest trading session, marking a +1.58% move from the prior day.

https://www.zacks.com/stock/news/2345006/nvidia-nvda-laps-the-stock-market-heres-why

What Happened With Accenture Stock Today? - Accenture ( NYSE:ACN )

Accenture Plc ACN shares moved higher Wednesday after the company announced it expanded its partnership with NVIDIA Corp. NVDA to launch the Accenture NVIDIA Business Group.

https://www.benzinga.com/news/24/10/41152629/what-happened-with-accenture-stock-today

Nvidia's AI Leadership To Drive $1 Trillion Market Growth, With Accenture Partnership Accelerating Adoption, Analyst Says - NVIDIA ( NASDAQ:NVDA ) , Accenture ( NYSE:ACN )

In the latest tech news that has investors buzzing, Nvidia Corp NVDA and Accenture PLC ACN have teamed up to forge a new era in AI adoption within enterprises. As they unveil their ambitious plans, Wedbush Securities' analyst Dan Ives has weighed in with insights that paint a promising picture ...

https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41151741/nvidias-ai-leadership-to-drive-1-trillion-market-growth-with-accenture-partnership-

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NVIDIA Corporation Price History

25.08.2024 - NVDA Stock was up 5.2%

• Participation in Alibaba's Apsara Conference and collaboration with Hitachi Rail to integrate AI technology showcase the company's continuous efforts to expand its presence in various sectors and enhance its technological capabilities.
• Microsoft's significant investment in boosting AI skills and infrastructure in Mexico may have positively influenced investor sentiment towards tech companies like Nvidia, indicating a growing interest and support for AI-related initiatives.
• The news about Vistra surpassing Nvidia as the S&P 500's top stock could have led to increased investor attention on Nvidia, potentially driving up the stock price as investors reevaluate their investment choices within the tech sector.
• Overall, the bullish movement in Nvidia's stock today could be attributed to a combination of positive industry developments, strategic partnerships, and shifting investor focus towards AI and tech companies.

04.08.2024 - NVDA Stock was down 6.8%

• NVDA's bearish movement could be attributed to the $279 billion loss in market cap in a single day, following a quarterly revenue forecast that fell short of investors' expectations.
• The hiring of Keith Strier from a competitor as senior vice president of global artificial intelligence markets may have raised concerns among investors about the competitor's potential to compete in the AI sector, impacting NVDA's stock negatively.
• The reassessment among an investment group about the sustainability of NVDA's success over the next decade might have added to the downward pressure on the stock.
• The broader market selloff and concerns about gender disparity in the semiconductor industry, including at NVDA, could have also contributed to the bearish movement in NVDA's stock.

29.07.2024 - NVDA Stock was down 6.0%

• Nvidia's stock dropped by 5% to a session low due to various factors:
• Despite surpassing revenue expectations, concerns about a decreasing net profit margin caused a 7% decline in stock price.
• Mixed reactions from the market greeted Nvidia's earnings report, leading to differing opinions among analysts.
• While Wall Street analysts are positive about Nvidia's future in AI, investors expressed disappointment with recent results.
• Nvidia's decline had a ripple effect on the wider market, impacting market indexes and highlighting the tech sector's influence on overall market trends.
• The reaction to Nvidia's earnings emphasized the challenge of balancing growth and profitability, contributing to the bearish performance of the stock.

29.07.2024 - NVDA Stock was down 6.3%

• Despite impressive earnings with a net income of $16.6 billion and revenue surging to $30 billion, NVIDIA's stock experienced a significant 6% drop.
• Investors were left puzzled by the bearish movement, especially considering the company's strong financial results.
• Market focus shifted from NVIDIA to the broader U.S. economy, with Wall Street rising as consumers bolster economic growth.
• The drop in NVIDIA's stock price could be attributed to profit-taking after a significant surge in the stock price earlier in the year, as well as potential concerns about future growth prospects in the tech sector.

03.08.2024 - NVDA Stock was down 5.1%

• NVDA stock experienced a significant bearish movement, dropping over 8% during the day.
• Despite the drop, there was not a significant amount of put buying, indicating that the decline may not be solely attributed to bearish traders.
• The broader semiconductor sector, including NVDA, faced selling pressure, contributing to the overall decline in tech stocks.
• While NVDA maintains dominance in the AI chip market, challenges faced by competitors like Huawei may have indirectly impacted investor sentiment towards the stock.

12.08.2024 - NVDA Stock was up 7.1%

• NVDA stock surged over 8% on Wednesday.
• Speculation surrounding Nvidia AI chips potentially being utilized in Saudi Arabia may have influenced investor confidence in the company's growth prospects.
• Jensen Huang's positive comments on Nvidia's AI advancements likely played a part in the stock's upward trend.
• The notable bullish movement in NVDA stock today can be attributed to a combination of positive developments related to Nvidia's expansion and the overall strong performance of the market and tech sector.

24.08.2024 - NVDA Stock was up 5.0%

• NVIDIA's partnership with Alibaba to advance AI and autonomous driving likely contributed to the positive momentum in the stock.
• Collaboration with ANSYS, Taiwan Semiconductor, and Microsoft to enhance chip simulations could have also boosted investor confidence in NVDA.
• The CEO's emphasis on the potential of AI in reshaping technology and the overall positive sentiment towards Bitcoin-centric stocks might have further supported NVDA's bullish movement.
• The intrigue surrounding NVDA's recent news and the overall market optimism could have led to increased investor interest and contributed to the stock's upward trend.

11.08.2024 - NVDA Stock was up 5.1%

• NVDA shares closed higher, showcasing a continuation of positive momentum from prior trading sessions.
• Market focus on insider trades did not have a detrimental impact on NVDA, with investors maintaining confidence in the company's potential.
• The stock's bullish trajectory amidst market fluctuations could be linked to the overall favorable sentiment towards tech equities and NVDA's ability to navigate challenges effectively.
• NVDA's bullish trend might also be influenced by broader market optimism, reflected in the upbeat performance of the Nasdaq 100 index and other tech companies like Oracle, which surpassed earnings projections.

11.08.2024 - NVDA Stock was up 7.3%

• NVDA stock gained momentum following a 3.5% increase on Monday, rebounding from a 14% decline the previous week, showcasing resilience in the face of market volatility.
• The news of AMD gaining ground in the AI chip market may have indirectly benefited NVIDIA, as it reinforces the growing demand for such technologies, boosting investor confidence in NVDA's position in the market.
• Insider selling activities in NVDA were noted, which could be interpreted in various ways, but the overall market sentiment remained positive towards the stock, contributing to its bullish movement.
• The overall positive sentiment in tech stocks, as seen with strong earnings reports and the market's focus on discounted stocks like NVDA, further supported the bullish movement in NVIDIA's stock price.

06.08.2024 - NVDA Stock was down 5.2%

• Despite US export restrictions, reports of Nvidia's AI chips being available in China at discounted rates could be impacting the stock negatively.
• The bearish movement in Nvidia's stock could also be influenced by the overall weakness in the semiconductor sector, as indicated by the premarket decline of chip peers like Broadcom.
• The news of soaring demand boosting semiconductor sales, while positive for the industry, might not have been enough to offset the specific challenges faced by Nvidia today.
• The comparison of favorite stocks to favorite players in a fantasy portfolio by Jim Cramer, though interesting, is unlikely to have directly impacted the bearish movement in Nvidia's stock.

12.08.2024 - NVDA Stock was up 5.9%

• Shares of Nvidia surged over 8% after optimistic comments from CEO Jensen Huang about the potential of AI beyond data centers.
• Asian chip-related stocks saw a rally due to the renewed AI optimism, further boosting Nvidia's performance.
• Despite CEO Jensen Huang selling some Nvidia stock, the overall bullish sentiment remained strong, reflecting confidence in the company's growth prospects.
• Despite the news of AMD gaining traction in the AI chip market and increasing demands by Oracle, Nvidia's bullish momentum continued, highlighting the company's strong position in the industry.

03.09.2024 - NVDA Stock was up 5.8%

• CEO Jensen Huang has stated that the demand for Nvidia's upcoming Blackwell GPU platform is exceptionally high ('insane'), hinting at strong interest and potential future sales growth.
• A strategic collaboration with Accenture to deploy AI agents in corporate settings is expected to spur the adoption of Nvidia's technology, potentially increasing revenues.
• Industry analysts are positive about Nvidia's position in the AI sector and the partnership with Accenture, predicting significant market expansion and faster adoption of AI technologies factors likely contributing to the upward movement in the stock price.
• By establishing the Accenture NVIDIA Business Group in an expanded partnership, Nvidia underscores its dedication to growing its footprint in the AI market, bolstering investor confidence and propelling the stock price upwards.