NVIDIA's Stock Soars 170% in 2024: Analysts Predict Further Growth

2 Sources

NVIDIA's stock has experienced a remarkable 170% surge in the first half of 2024, driven by AI chip demand. Analysts are now speculating whether the tech giant's shares could double by year-end.

News article

NVIDIA's Stellar Performance in 2024

NVIDIA Corporation, the leading graphics processing unit (GPU) manufacturer, has witnessed an extraordinary start to 2024. The company's stock has skyrocketed by an impressive 170% in the first half of the year, outpacing many of its tech peers and leaving investors wondering about its future trajectory 1.

Driving Forces Behind NVIDIA's Growth

The primary catalyst for NVIDIA's remarkable stock performance has been the surging demand for artificial intelligence (AI) chips. As businesses across various sectors rush to implement AI technologies, NVIDIA's advanced GPUs have become the go-to choice for powering these complex systems 2.

Financial Projections and Market Expectations

Wall Street analysts are optimistic about NVIDIA's future, projecting substantial growth in the company's financials. For the fiscal year 2025 (which aligns with calendar year 2024), experts anticipate NVIDIA's revenue to reach $90.8 billion, marking a significant 57% increase year-over-year. The company's earnings per share are expected to hit $19.10, representing a remarkable 69% growth 1.

Potential for Further Stock Appreciation

Despite the already impressive gains, some analysts believe NVIDIA's stock has room for further growth. The most optimistic price targets suggest the stock could potentially double from its current levels by the end of 2024. However, it's important to note that such projections are speculative and subject to market conditions 2.

Challenges and Considerations

While the outlook for NVIDIA appears promising, investors should be aware of potential challenges. The tech industry is known for its volatility, and NVIDIA's high valuation could make it susceptible to market fluctuations. Additionally, increased competition in the AI chip market and potential regulatory hurdles could impact the company's growth trajectory 1.

Long-term Prospects

Despite short-term uncertainties, many analysts remain bullish on NVIDIA's long-term prospects. The company's strong position in the AI chip market, coupled with its continuous innovation in GPU technology, positions it well for sustained growth in the evolving tech landscape 2.

Explore today's top stories

Google Unveils Gemini 2.5 Deep Think: A Powerful AI Model for Complex Problem-Solving

Google releases Gemini 2.5 Deep Think, an advanced AI model designed for complex queries, available exclusively to AI Ultra subscribers at $250 per month. The model showcases improved performance in various benchmarks and introduces parallel thinking capabilities.

Ars Technica logoTechCrunch logoCNET logo

17 Sources

Technology

15 hrs ago

Google Unveils Gemini 2.5 Deep Think: A Powerful AI Model

OpenAI Secures $8.3 Billion in Funding, Reaching $300 Billion Valuation

OpenAI raises $8.3 billion in a new funding round, valuing the company at $300 billion. The AI giant's rapid growth and ambitious plans attract major investors, signaling a significant shift in the AI industry landscape.

TechCrunch logoCNBC logoThe New York Times logo

10 Sources

Business and Economy

7 hrs ago

OpenAI Secures $8.3 Billion in Funding, Reaching $300

Reddit's AI-Driven Strategy Boosts Revenue and User Engagement

Reddit's Q2 earnings reveal significant growth driven by AI-powered advertising tools and data licensing deals, showcasing the platform's successful integration of AI technology.

TechCrunch logoReuters logoDataconomy logo

7 Sources

Business and Economy

15 hrs ago

Reddit's AI-Driven Strategy Boosts Revenue and User

Reddit Aims to Become a Go-To Search Engine with Unified AI-Powered Search Experience

Reddit is repositioning itself as a search engine, integrating its traditional search with AI-powered Reddit Answers to create a unified search experience. The move comes as the platform sees increased user reliance on its vast community-generated content for information.

TechCrunch logoCNET logoThe Verge logo

9 Sources

Technology

23 hrs ago

Reddit Aims to Become a Go-To Search Engine with Unified

GPT-5: OpenAI's Game-Changing AI Model Set for Imminent Release

OpenAI is poised to launch GPT-5, a revolutionary AI model that promises to unify various AI capabilities and automate model selection for optimal performance.

ZDNet logoEconomic Times logo

2 Sources

Technology

15 hrs ago

GPT-5: OpenAI's Game-Changing AI Model Set for Imminent
TheOutpost.ai

Your Daily Dose of Curated AI News

Don’t drown in AI news. We cut through the noise - filtering, ranking and summarizing the most important AI news, breakthroughs and research daily. Spend less time searching for the latest in AI and get straight to action.

© 2025 Triveous Technologies Private Limited
Instagram logo
LinkedIn logo