Nine consecutive increases! Is NVIDIA going to hit another all-time high?

On Monday local time, Nvidia launched its latest GPU chip, the H200. After the news was announced, Nvidia's stock price surged, closing up 0.6% at $486.2, close to the all-time closing high set on August 31.

At the same time, Nvidia set a record for the longest consecutive gain in nearly 7 years, with a cumulative increase of over 19%.

Compared to its competitor AMD, some believe that Nvidia's stock price increase seems more "genuine".

Suiss analyst Jordan Klein evaluated Nvidia's performance over the past week and believes that the rise in Nvidia and Broadcom's stock prices seems to reflect the "true" attractiveness to longs and retail buyers, while AMD's stock price increase seems more like a short squeeze.

Although AMD is not constrained by CoWoS and HBM production capacity, the headwinds faced by its gaming and embedded divisions and the uncertain prospects of its MI300 chip have also affected market confidence in AMD's stock.

Bernstein analyst Stacy Rasgon pointed out that the previous $2 billion target for the MI300 chip was "lower than the more optimistic investor expectations".

Nvidia also announced the new H200 and B100, doubling the rate of updating data center chips every two years, seemingly demonstrating its determination to maintain its dominant position in the market. Wolfe Research analyst Chris Caso stated:

"This further proves that Nvidia is accelerating its product pace to meet the growth and performance requirements of the artificial intelligence market, thereby further expanding its competitive moat."

Since the beginning of this year, Nvidia's stock price has soared over 239%, and its current market value has exceeded $1.2 trillion, making it the best-performing stock in the S&P 500 index.

On the 21st (next Tuesday), Nvidia will announce its earnings for the third quarter after the market closes.