Nvidia's (NASDAQ: NVDA) stock saw a significant increase in Monday's trading session, rising by 1% as of 3:15 p.m. ET, according to data from S&P Global Market Intelligence.
The stock had surged by as much as 5.2% earlier in the day.
This surge coincided with the start of Nvidia's GPU Technology Conference (GTC) in San Jose, California, where investors are eagerly anticipating major announcements and insights into the future direction of the AI leader.
CEO Jensen Huang is scheduled to deliver a keynote speech today, with additional panels and presentations scheduled throughout the week.
The conference features over 20 technical workshops on generative AI and hundreds of exhibits, making it a focal point for the future of artificial intelligence and accelerated computing applications.
This year's GTC has generated high expectations among investors and industry watchers alike.
Nvidia's stock has been on a remarkable run, soaring approximately 79% higher in 2024 and up 244% over the past year.
With a market value of about $2.21 trillion, Nvidia ranks as the world's third-most-valuable company, behind only Microsoft and Apple.
Despite the recent gains and excitement around GTC, some investors are wondering if it's too late to buy Nvidia stock.
While short-term movements may be influenced by GTC announcements, long-term investors should focus on the bigger picture.
Huang's prediction that AI could reach human-level intelligence within five years underscores the long-term potential of Nvidia's technology in the AI revolution.
As the company is still in the early stages of benefiting from this revolution, Nvidia's stock remains an attractive option for long-term investors looking to capitalize on advancements in AI and GPU technology.