Nvidia shares climbed nearly 16% last week — read the latest from CNBC Pro
Nvidia stock got a boost last week as investors cheered comments by CEO Jensen Huang about the company’s new AI chip rollout. Blackwell — Nvidia’s next-generation processor — is a key focus for Wall Street amid some delays. This — and some other concerns — have hit the company’s share price in recent weeks. But Huang looked to reassure investors at the Goldman Sachs Communacopia + Technology Conference in San Francisco. “We are ramping Blackwell. And it’s in full production. We’ll ship in Q4 [the fourth quarter] and scale it, start scaling in Q4 and into next year … The demand on it is so great, and everybody wants to be first,” he said Wednesday. He also addressed Nvidia’s rivals, its supply chain and how it plans to protect its competitive advantage. Shares of the firm rallied 8% last Wednesday and rose nearly 16% over the week. The Nasdaq Composite , in comparison, was 5.9% higher. Analysts remain overwhelmingly bullish looking ahead, with 94% of those who cover the stock giving it either an overweight or buy rating, according to FactSet data. Their average price target for Nvidia gives it 25.5% upside potential. In case you missed it, here’s a round-up of all the top analyst calls and more over the past week:
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