Nvidia (NASDAQ:NVDA) stock is on the move today as its shares rise to the top of the trending list on Friday.
Nvidia (NVDA) logo on the indoor wall of a corporate building made of yellow tiles
Source: JHVEPhoto / Shutterstock.com
That likely has some investors wondering why Nvidia is the No. 1 top trending stock today. It all has to do with the company’s CEO speaking at the recent Six Five Summit and CogX conference.
Nvidia CEO Jensen Huang spent his time at the conferences discussing several matters important to the graphics card company. Chief among them was its planned merger with ARM. He spoke of the potential inc combining ARM’s CPU technology with its own artificial intelligence tech.
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Here’s a portion of what Huang said at the conference, as collected by Yahoo Finance!
“The U.K. has every reason to be proud of Arm and its achievements and contributions to the world. We have every intention to not only continue that work but invest in doing more of it there…We want to help the U.K. become a center of world-class AI development.”
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In addition to this, NVDA stock was the subject of a couple of increased price targets from analysts recently. The first of those happened yesterday when Jefferies analyst Mark Lipacis bumped the price of the firm’s price target for NVDA stock from $740 per share to $854 per share.
The second price target increase for NVDA stock came out today and Bank of America analyst Vivek Arya is behind it. The analyst updated the firm’s price target for NVDA from $800 per share to $900 per share.
NVDA stock was up 3% as of Friday morning.
There’s plenty of other hot stocks news that investors will want to keep up with today.
Luckily for them, InvestorPlace has all the coverage they need with our daily look at the stock market. That includes the latest news moving Palantir Technologies (NYSE:PLTR), GEO Group (NYSE:GEO), and AMC Entertainment (NYSE:AMC) shares today. You can learn all about that news at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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