Nvidia Stock Jumps 3% Premarket, Eyes Breaking All-Time Highs: What's Fueling The Surge?

Shares of Nvidia Corp. NVDA gained in premarket trading on Monday following an impressive pre-event presentation by CEO Jensen Huang ahead of the kickstart of the Computex 2024, an annual computer expo in Taiwan.

Huang announced the next generation AI accelerator named Rubin, which will launch in 2026 following the release of Blackwell Ultra in 2025. He also touched upon a host of issues including AI factories that would house software called Nvidia Inference Micro Services, or NIMS, and physical AI, calling it the next wave of AI.

New Street Research analyst Pierre Ferragu called the presentation as the “best Jensen Keynote ever.” It touched upon everything that matters such as the roadmap cadence, scaling, real-world AI, and million-GPU datacenter, he said.

Nvidia is riding the AI revolution that is getting entrenched and the visionary leadership of Huang has helped the company stay ahead of the curve.

The shares, which have run up over 120% this year, gained 2.98% to $1,129.00 in premarket trading. They are trading off their all-time closing and intraday highs of $1,148.25 and $$1,158.19, respectively.

Nvidia is currently the third most-valued company ($2.696 trillion) after Apple ($2.949 trillion) and Microsoft ($3.089 trillion).