Nvidia's Next Catalyst Arrives on September 10: Can CEO Jensen Huang Deliver?

Nvidia's stock price is hovering just below its record high, and investors are waiting for CEO Jensen Huang to speak at Goldman Sachs' Communacopia + Technology Conference on September 10. The event could provide crucial insights into AI demand, enterprise adoption, and Nvidia's next hardware.

The company closed at $225.73 on Tuesday, a 2.01% drop from the previous day, leaving it about 4.6% below its all-time high of $236.54. Despite this proximity to record levels, some analysts argue that Nvidia is still undervalued compared to future earnings.

Cantor Fitzgerald analyst C.J. Muse recently reiterated an Overweight rating and a price target of $350 on Nvidia's stock, citing the company's cheap valuation among compute names based on calendar-2028 earnings estimates. However, this support depends on growth expectations continuing to rise.

Nvidia's next leg up will depend on proving that AI demand is expanding beyond a small group of hyperscalers, such as Microsoft and Amazon. Recent results from Dell have strengthened the argument for enterprise AI-compute market momentum beyond these current leaders.