Nvidia Hits a New All-Time High. Is the AI Stock a Buy?
Nvidia just hit another record. It's closing in on $6 trillion.
Overview
Nvidia (NASDAQ:NVDA) set a new intraday all-time high on Tuesday at $243.37 per share.
Last Friday, the stock topped its previous record set on May 14, and has continued to climb from there, notching its fifth straight gain on Tuesday.
Details
In recent days, Nvidia has been buoyed by positive macro news, including a cooler-than-expected PCE inflation report and a weak employment report, which both make future Fed rate hikes less likely. While there's been relatively little news out on Nvidia, the general news about AI remains overwhelmingly positive. Anthropic is headed toward an IPO next month that is expected to value the company at $2 trillion. Marvell just wowed investors at its Investor Day conference after raising its 2028 revenue outlook to $20 billion, indicating strong demand for chips, and SpaceX, its close partner, has gained on several recent achievements, including sending Starship into low Earth orbit for the first time, where it deployed Starlink satellites.
Source
Originally published at www.fool.com.