Nvidia Stock Surges 150% in First Half of 2024 - Potential for Continued Growth Ahead
Money | July 10, 2024, 7:05 a.m.
Nvidia, the high-flying AI stock, has skyrocketed by 150% in 2024, thanks to its innovative Blackwell platform. This platform enables the building and deployment of large language models at a fraction of the cost and energy consumption compared to competitors. With demand for Blackwell exceeding supply and a lineup of top clients, including Amazon, Microsoft, and Tesla, Nvidia is poised for continued growth.
While competition and valuation concerns loom, CEO Jensen Huang remains confident in Nvidia's competitive edge and the potential undervaluation of the stock. With no signs of an imminent economic downturn, Nvidia's speed in innovation and ability to stay ahead of the curve could drive its stock even higher in the coming years. With Blackwell leading the charge, Nvidia is certainly a stock to watch as it aims to establish itself as the big winner in the generative AI market.