Chart of Day: Nvidia (NVDA)
The artificial intelligence story is just heating up.
In fact, according to Jensen Huang, founder and CEO of NVIDIA, “AI will be mainstream in every application for every industry. Placing an AI supercomputer on the desks of every data scientist, AI researcher and student empowers them to engage and shape the age of AI.”
Even better, according to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030.
Plus, according to a new IBM study, “retail and consumer products companies surveyed say they plan to allocate an average of 3.32% of their revenue to AI—equivalent to $33.2 million annually for a $1 billion company,” as noted by an IBM press release.
That being said, investors may want to jump into red-hot AI stocks like Nvidia (NVDA).
Analysts at Bank of America reiterated a buy rating on the stock with a price target of $190 a share with the company’s keynote presentation at the Consumer Electronics Show (CES).
Plus, Nvidia just introduced Cosmos foundation models, designed to generate realistic videos for training robots and self-driving cars at a lower cost than traditional data collection methods at CES 2025. The company also launched its RTX 50 series gaming chips, and its first desktop computer, which is designed for computer programmers.
Ian Cooper is an experienced trader who uses a combination of technical, fundamental, and news analysis to help individual investors grow their wealth. Ian’s Premium Options Strategies