Nvidia stock eyes record high, looks to unseat Apple as world's most valuable company

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Wall Street Analysts,Foxconn

Nvidia stock is aiming to notch a new all-time high as the AI boom shows no sign of slowdown.

The stock’s climb began Oct. 2 following the announcement of a massive, $6.6 billion funding round for ChatGPT-maker OpenAI. Much of that funding will beNvidia shares continued their upward trajectory, fueled by a barrage of good news for the AI chipmaker. Wall Street analysts last week reiterated their Buy ratings on Nvidia shares.

Semiconductor industry sales rose 28% in August from the prior year and 15% from July, according to the most recent WSTS data reviewed by JPMorgan . Nvidia CEO Jensen Huang said last week in a CNBC interview that demand for Nvidia’s latest Blackwell chips has beenNvidia is set to report earnings on Nov. 19. Wall Street analysts expect the company to report revenues of $33 billion, up 82% from the prior year, according to Bloomberg consensus estimates.

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