Nvidia Stock Soars Ahead of CEO’s CES Keynote, Eyeing Record Highs

Nvidia shares surged by 5% on Monday, edging closer to record highs as investors eagerly awaited CEO Jensen Huang’s keynote speech at the Consumer Electronics Show (CES). The stock hit an intra-day high of $152.16, just shy of its all-time high of $152.89.

Huang is set to deliver the keynote address on Monday at 6:30 p.m. PST in Las Vegas. Bank of America highlighted that Nvidia stock often sees a spike following Huang’s CES remarks, citing a 6.4% jump on the day of his 2024 CES speech, which was followed by a surge in the two days after.

“It was a monstrous Monday, with NVDA being the most notable move,” Bank of America noted in a recent report. “NVDA had been extremely range-bound for the 4-5 months leading into it, with the buy-side focused on the looming cloud capex cliff.” Despite concerns about a potential end to the AI capex boom, Nvidia has experienced a sideways trading pattern for the past six months.

Looking ahead to Huang’s CES speech, Bank of America analyst Vivek Arya predicts that the integration of AI into robotics will be a major focus. “We look for updates on Robotics strategy from silicon to software and the emergence of the ‘physical AI’ theme,” Arya said, anticipating Nvidia will make a strong push into robotics.

Other areas Arya is watching include Nvidia’s new PC gaming cards, which will be based on its next-generation AI chip architecture, Blackwell. There’s also potential for Nvidia to enter the PC market, possibly through a partnership or with a standalone AI PC.

Arya is also keen to hear updates on Nvidia’s data center business, particularly regarding the ramp-up of Blackwell chips and the expected release of upgraded variants like the GB300 and B300 in the second half of the year. Additionally, a teaser for Nvidia’s upcoming Rubin AI GPU, which is set to succeed the Blackwell chip in 2026, is highly anticipated.

Despite much of the big news already circulating ahead of the event, Arya sees CES as a positive catalyst for Nvidia, reinforcing its dominance and growth potential in high-demand markets.

Analysts at Citi have also placed Nvidia on their “positive catalyst watch” for CES, with Arya maintaining a “Buy” rating and a price target of $190, representing a 26% upside from current levels.