Nvidia Stock On Track To Reclaim $900: What's Powering The Chipmaker's Premarket Rally?
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. (NASDAQ:NVDA) shares rose over 2% in premarket trading as anticipation builds for CEO Jensen Huang's keynote at the annual GPU Technology Conference (GTC) 2024. The event, running from March 18-21, is expected to feature discussions on Nvidia's next-gen AI accelerator, Blackwell 100 (B100), and its AI ecosystem. Nvidia's stock has seen significant growth, ending as the best-performing S&P 500 stock with a 239% rally last year and a further 72% increase year-to-date. The company is now the third most-valued global corporation.
March 18, 2024 | 10:15 am
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Nvidia Corp. (NASDAQ:NVDA) shares rose over 2% in premarket trading, driven by high expectations for the upcoming GTC 2024 keynote by CEO Jensen Huang. The company's focus on next-gen AI accelerator B100 and its AI ecosystem are key factors.
The premarket rally in Nvidia's stock is directly linked to the anticipation surrounding the GTC 2024 keynote, where significant announcements regarding Nvidia's AI technologies are expected. Given Nvidia's recent performance and position as a leading tech company, any positive news related to its AI accelerator B100 or AI ecosystem could further boost investor confidence and stock price in the short term.
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