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NVIDIA Corp (NASDAQ:NVDA) reached a new milestone on Monday, with shares rising 4.14% to close at an all-time high of $143.71, prompting a notable reaction from CNBC’s Jim Kramer.
What happenedAfter the stock’s record performance, Cramer turned to
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Wedbush Effects analyst Then Ives echoed Cramer’s sentiment and responded with trophy emojis symbolizing achievement and success.
Cramer has consistently used similar bullish market terminology when discussing both Nvidia and Nvidia Apple Inc.
On Monday, shares of the semiconductor maker traded between $138 and $143.71 during the session, marking both an intraday and 52-week high, a substantial increase from the 52-week low of $39.23. The increase reflects growing demand for Nvidia’s graphics processing units, especially from hyperscalers that are expanding their data centers with advanced AI capabilities.
The company recently expanded its AI portfolio by quietly introducing a new model, Llama-3.1-Nemotron-70B-Instruct, which reportedly outperformed the competition in benchmark tests.
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Why it mattersThis development is important as it underlines Nvidia’s continued dominance in the AI sector, a position that has been reaffirmed by analysts as a ‘generational opportunity’.
This move aligns with Ives’ observation of a growing number of companies beyond traditional AI leaders now benefiting from the technology revolution.
Despite the stock’s impressive performance, experts believe there is still room for growth. Tech bulls predict the stock could double in the coming years, driven by strong demand for GPU chips and early adopters starting to see ROI.
Price promotion: Nvidia shares rose 4.1% on Monday to close at $143.71. Though down 0.70% in premarket trading Tuesday, the stock is up 198.34% this year, according to data from Benzinga Pro.
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Arrivald Homes, the Jeff Bezos-backed investment platform, has launched its Private Credit Fund, which provides access to a pool of short-term loans backed by residential real estate with a net annual return of 7% to 9% paid out monthly to investors. In August it paid 8.1%. The best part? Unlike other private credit funds, this one has a minimum investment of just $100.
This article ‘Nvidia, Own It, Don’t Trade It:’ Jim Cramer Questions Short-Sellers as Stocks Hit New Highs – Tech Bull Dan Ives Celebrates with Trophies originally appeared on Benzinga.com
