NVIDIA stock closes at record high, investors expect long-term strong demand for AI.

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Golden Ten Data, October 15, Nvidia shares closed at a record high on Monday, for the first time in about four months, investors continue to expect a strong long-term demand trend for artificial intelligence. Nvidia shares closed up 2.4% at $138.07, breaking the record set in June. The stock has recovered 40% from its August lows and pumped 179% year-to-date. The 2024 rally added more than $2 billion to the company’s Market Cap. The stock’s recent strong performance was aided by a speech by CEO Jensen Huang. He said demand for the Blackwell chip had reached “insane” levels, alleviating concerns that the chip’s release had been delayed due to engineering issues.

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