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Nvidia stock jumped as much as 2% to a record high on Tuesday, one day after CEO Jensen Huang delivered the opening keynote to the 2025 Consumer Electronics Show in Las Vegas.
The gains on Tuesday briefly extended Nvidia's 3% gain on Monday, though the stock reversed course to trade lower by about 2% around 10:00 a.m.
Shares of the AI chipmaker hit an intraday high of $153.13 on Tuesday, representing its highest level on record and briefly making it the largest company in the world.
Huang unveiled a slew of products at CES, including a $3,000 AI-based personal computer, a new lineup of gaming graphics cards, and updates to its autonomous driving and robotics ambitions.
"The ChatGPT moment for general robotics is just around the corner," Huang said in his keynote speech.
"The overriding message from Jensen was a slew of new AI technology is coming out of Nvidia around robotics, autonomous technology, PCs that will further stretch their enormous technology lead vs. the rest of the semi and Big Tech landscape," Wedbush Securities analyst Ives said in a Tuesday note.
Ives added that Huang unveiled the "next frontier" of AI in his keynote.
Nvidia's robotics and autonomous ambitions alone represent a $1 trillion opportunity for the company, according to Ives, who gained confidence that the AI chip company is on its way to a $5 trillion market valuation in the next 12 to 18 months.
With a market valuation of about $3.7 trillion, that represents potential upside of 35% from current levels.
Bank of America analyst Vivek Arya also left Huang's keynote with a bullish view, arguing that Nvidia is expanding its AI dominance from the cloud to enterprise and the consumer.
"Maintain Buy, top pick on continued AI dominance across hardware/software," Arya said.
Arya highlighted that Nvidia's newly announced autonomous driving partnership with Toyota should help the company's auto division reach an annual revenue run rate of $5 billion by 2026.
Additionally, Arya was encouraged by Huang's update on its next-gen Blackwell GPU chip, which is now in full production across more than 200 different configurations.
"We highlight NVDA's continued dominance in genAI compute and ecosystem, quickly expanding from the cloud all the way to enterprise and consumers," Arya said.
