Key Highlights Nvidia shares surged as high as 2.8% on Thursday, reaching approximately $218 per share Jensen Huang, the company’s CEO, forecasted chip sales could approximately double within
Shares of Nvidia experienced a gain exceeding 2% during Thursday’s trading session, reaching the $218 level, following CEO Jensen Huang’s statement that the chipmaker anticipates selling approximately double the volume of processors over the next twelve months.
Speaking at a gathering in Scotland organized by King Charles III, Huang attributed this anticipated demand surge to artificial intelligence’s proliferation across an expanding array of industries.
The stock’s upward momentum occurred during a broadly positive trading day across markets. The S&P 500 index advanced 1.1%, the tech-heavy Nasdaq Composite jumped 1.6%, while the Dow Jones Industrial Average climbed 0.7%, benefiting from declining Treasury yields and oil prices following the Federal Reserve’s first rate increase in three years.
Technology sector peers similarly posted gains. SpaceX and Amazon each appreciated approximately 2%, Microsoft shares increased 1%, Qualcomm advanced 2%, and Intel experienced a notable 9% surge.
Thursday’s remarks from Huang expand upon an already optimistic forecast previously issued by Nvidia. During the previous month, the chipmaker projected approximately 70% revenue growth for the upcoming fiscal year, noting that revenues could potentially double if production capacity can adequately meet market demand.
Production capacity, rather than customer demand, represents Nvidia’s primary bottleneck. The semiconductor manufacturer is racing to manufacture sufficient AI hardware to satisfy customer requirements.
Nvidia maintains market leadership in AI accelerators—the specialized processors utilized for training and operating artificial intelligence models. As artificial intelligence adoption expands across industries, demand for these specialized chips continues escalating.
During the Scotland event, Huang also discussed AI safety considerations. He emphasized that corporations must accept accountability for their technology and verify that AI software meets safety standards before customer deployment.
Nvidia’s positive outlook emerges as Huawei accelerates efforts to challenge its market position. The Chinese technology conglomerate announced Thursday plans to introduce two new artificial intelligence processors next year.
Huawei has previously delivered over 1,000 AI computing systems to more than 370 clients. These integrated systems cluster hundreds of processors together to amplify computational capabilities.
This initiative represents a component of China’s comprehensive strategy to diminish dependence on American technology. The United States government has implemented restrictions preventing Chinese enterprises from accessing Nvidia’s most sophisticated chips and imposed limitations on semiconductor manufacturing equipment available to Chinese chip producers.
According to Morgan Stanley’s analysis, China’s AI processor market could expand to $67 billion by 2030, with domestic manufacturers capturing 86% of that market share, a substantial increase from under 50% in 2025.
Huang is anticipated to participate in a state dinner event hosted by President Donald Trump honoring Chinese President Xi Jinping on September 24 during Xi’s Washington visit.
Artificial intelligence and technology commerce are projected to feature prominently during that diplomatic engagement. Huang previously attended a state dinner in China during May, appearing alongside Elon Musk and former Apple CEO Tim Cook.
Wall Street analysts maintain an overwhelmingly positive stance on NVDA. The stock carries a Strong Buy consensus rating derived from 30 Buy recommendations issued during the past three months, with analysts setting an average price target of $324.30, suggesting approximately 48% upside potential from present levels.
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