NVIDIA HITS RECORD HIGH AS GOLDMAN SACHS BOOSTS PT ON AI PROSPECTS
NEWS Desk Global

Nvidia's shares reached a new peak on Monday following Goldman Sachs' decision to raise its price target for the chipmaker's stock, anticipating a significant earnings boost from the artificial intelligence (AI) surge. The stock surged approximately 4% to $689.21, potentially adding around $70 billion to Nvidia's market capitalization. As of Friday's close, Nvidia was valued at $1.63 trillion.
The company has become emblematic of the AI craze, experiencing a record monthly increase in market value in January. However, this rapid growth has also increased the stock's relative expense compared to its peers, with Nvidia's shares trading at 31.4 times the company's forward earnings estimate, notably higher than the industry average of 22.9.
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