Nvidia
stock continues to hit new milestones as Wall Street celebrates ongoing developments from the chip maker.
Nvidia
(ticker: NVDA) stock closed up 0.6% on Monday to $486.20. That was the stock’s ninth consecutive day in the green and marks it’s longest winning streak since December 2016, when it rose for 10 straight days, according to Dow Jones Market Data.
The stock gained after the company announced a new artificial intelligence chip: the H200 Tensor Core GPU. This chip incorporates performance improvements from its predecessor when generating answers from AI models.
Shares of
Nvidia
have soared this year as investors buy up stocks with exposure to AI. Nvidia stock is arguably the largest beneficiary of this investor excitement and has soared 232% this year, on pace for its best year since 2001.
Looking ahead, shares are creeping back up to their all-time high hit in August. The stock is only down 1.5% from that high of $493.55. Nvidia is scheduled to report third-quarter earnings after the close on Nov. 21, and the results have the potential to push the stock to hit even more records.
Write to Angela Palumbo at [email protected]
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