Nvidia Corporation (NASDAQ:NVDA) led the gains among tech, energy, and aviation firms on Friday, rising by 4.45 percent or 6.16 points to close at $144.47 apiece. Analysts attribute this surge to investors’ anticipation of Nvidia’s presence at the Consumer Electronics Show (CES) 2025 in Las Vegas.
The event is expected to focus on artificial intelligence (AI), and Nvidia founder Jensen Huang is anticipated to introduce AI chips, including desktop graphics processing units. This marks a significant opportunity for Nvidia, which has been a leading provider of powerful server processors for AI applications since the current generative AI craze began with the release of ChatGPT from OpenAI in November 2022.
Nvidia ranks 11th on our list of firms under tech, energy, and aviation that led Friday’s rally. Despite its potential as an investment, we believe AI stocks like Nvidia have greater promise for delivering higher returns within a shorter time frame. If you’re looking for a more promising AI stock trading at less than 5 times earnings, check out our report on the cheapest AI stock.
Source: https://finance.yahoo.com/news/why-nvidia-nasdaq-nvda-skyrocketed-132712782.html