Nvidia stock (NVDA) is on track to notch a record high as investors continue to bet on the artificial intelligence boom, placing the chipmaker in contention for the top spot as Wall Street’s most valuable company.
Shares rose over 3% morning trading Monday to above $138. Nvidia previously hit a record closing price of $135.58 in June.
Nvidia stock has risen sharply in October, at one point posting six consecutive days of gains.
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 be funneled back to Nvidia, as OpenAI’s growing energy demands will require more of its AI chips.
Nvidia 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. KeyBanc released a report…
