Nvidia Stock Surges Ahead of Q3 Earnings Amid AI-Driven Demand
Nvidia's stock climbed to $189.98, marking a 1.67% gain as investors position themselves ahead of the November 19 earnings report. Despite an 11% pullback from all-time highs after surpassing $5 trillion in market valuation earlier this year, expectations remain robust. Analysts attribute this Optimism to strong demand for Blackwell architecture and AI infrastructure spending, projected to reach $3-$4 trillion by 2030.
Wall Street sentiment is overwhelmingly bullish, with 40 of 47 analysts maintaining a 'strong buy' rating. Wedbush analyst Dan Ives has been particularly vocal, underscoring Nvidia's transformative role in the tech sector. Market volatility has done little to dampen enthusiasm for the chipmaker's long-term prospects.