Nvidia (NVDA) Stock Surges as Blackwell Production Progresses
Nvidia's Stock Surge Explained
Nvidia (NASDAQ: NVDA) has seen a significant stock surge, currently valued at $135.48, up almost 4% within 24 hours. Investors are keenly watching the $140 resistance, which has become a focal point for future performance.
Production Developments Driving NVDA
The rally in NVDA's stock is largely attributed to a recent report from Trendforce. This report indicates that the production of Nvidia's Blackwell NVL/GB200 system is moving forward as expected, alleviating initial concerns surrounding delays.
- The mass production peak is anticipated between Q2 and Q3 of 2025.
- Limited shipments are projected for Q4 2024 due to supply chain constraints.
- Analysts remain bullish, suggesting potential price targets upwards of $175.
Future Outlook for Nvidia
While there are concerns regarding market share stability and competition, a successful rollout of Blackwell chips will be crucial for Nvidia to maintain its AI market dominance. Wall Street analysts predict significant upside for NVDA if these chips meet production targets.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.