Jensen Huang presenting at a Nvidia event
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Nvidia’s stock price saw a 5% surge on Monday, nearing record highs, as investors eagerly awaited CEO Jensen Huang’s keynote address at the Consumer Electronics Show (CES) in Las Vegas. The stock briefly touched $152.16 per share, just shy of its all-time high of $152.89.
Huang’s highly anticipated speech is scheduled to commence CES on Monday at 6:30 p.m. PST. Bank of America analysts have observed a historical correlation between Huang’s CES presentations and subsequent increases in Nvidia’s stock price. In 2024, for instance, the stock jumped 6.4% on the day of his speech and continued to climb in the following two days. This historical trend fuels current market anticipation.
Past Performance and Current Market Sentiment
Bank of America highlighted the “monstrous Monday” following Huang’s 2024 CES address, noting that Nvidia’s stock had been range-bound for months prior. This year, the bank suggests a similar scenario, with investor concerns lingering about a potential slowdown in AI-related capital expenditures. Nvidia’s stock has been trading sideways for approximately six months.
Key Areas of Focus for Huang’s Keynote
Bank of America analyst Vivek Arya anticipates that the integration of artificial intelligence into robotics will be a prominent theme in Huang’s presentation. Arya expects “a strong push” into robotics, with updates on Nvidia’s strategy encompassing both hardware and software, potentially signaling the emergence of “physical AI.”
Nvidia's logo displayed on a screen
Beyond robotics, Arya anticipates announcements regarding new PC gaming cards based on Nvidia’s next-generation Blackwell AI chip architecture. He also suggests the possibility of Nvidia entering the PC market with an AI-powered PC, either through a partnership or as a standalone product. Updates on Nvidia’s data center business, particularly concerning the rollout of Blackwell chips and their upgraded variants (GB300 and B300) expected later this year, are also anticipated. Finally, Arya expects a glimpse into Nvidia’s future with a teaser about the Rubin AI GPU, slated to succeed the Blackwell chip in 2026.
Positive Catalyst for Nvidia
While pre-event media coverage has touched upon some of these themes, Arya believes CES serves as a “positive catalyst,” reinforcing Nvidia’s dominant position and opportunities in high-growth markets. Citi analysts share this optimistic outlook, placing Nvidia stock on “positive catalyst watch” during CES. Arya maintains a “Buy” rating on Nvidia, designating it a “top pick” with a price target of $190, representing a potential 26% upside from current levels. The convergence of historical trends, market anticipation, and potential groundbreaking announcements positions this CES keynote as a pivotal moment for Nvidia.
