Nvidia Shares Soar to New High as Analysts Back AI Dominance

Nvidia Corp. (NVDA) shares reached a new all-time high after a 2.1% climb on Monday, with veteran tech analyst Dan Ives reinforcing the bull case. Ives emphasized Nvidia’s central role in the AI revolution, stating, "There’s one chip in the world fueling the AI revolution. It comes down to there’s one chip in the world fueling, and that’s Nvidia."

Ives believes Wall Street’s earnings estimates for Nvidia may be 20% to 30% too low over the next year. He argued that AI demand is broadening beyond major hyperscalers, with enterprise and physical AI applications driving additional growth. "Big Tech is ultimately flexing its muscles again," he noted, highlighting a surge in chip demand.

Nvidia’s stock has surged 14% since its last earnings report on August 26 and is up 24.8% year to date. While Intel Corp. (INTC) and Advanced Micro Devices (AMD) have seen even larger year-to-date gains of 215% and 195%, respectively, Nvidia remains the top performer in the second half of the year. BNP Paribas raised its price target for NVDA to $345, suggesting a 44% upside from Monday’s close.

Analyst sentiment remains overwhelmingly bullish, with 58 of 61 analysts rating NVDA a 'Buy' or higher. Retail sentiment on Stocktwits also shifted to 'bullish' from 'neutral,' with traders speculating further gains if geopolitical tensions ease.