NVIDIA shares closed at a record high on Friday, surpassing a key resistance level that had held for months, marking the latest evidence of strengthening momentum for the AI chipmaker.
The stock rose 4.3% to close at $208.26, exceeding the previous closing record set in October.
This represents a 26% rebound from the low point reached in late March.
The recent strong performance stems from market expectations that major corporations will continue to make substantial investments in artificial intelligence, thereby driving NVIDIA's long-term growth prospects.
Large-cap technology stocks have demonstrated broad strength recently, with investors returning to the sector due to robust growth expectations and more attractive valuations following a pullback earlier this year.
Chipmakers have been particularly strong performers, with the Philadelphia Semiconductor Index recording gains for 18 consecutive sessions, its longest winning streak on record.
Strong recent earnings reports from Texas Instruments and Intel have provided additional support to the semiconductor sector.
This record close signifies that NVIDIA has broken out of the narrow trading range that had confined the stock for nearly a year.
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