NVIDIA Corporation (NASDAQ:NVDA) shares are trading higher by 1.76% to $381.35 Thursday morning. The stock is higher by some 25% since May 24 when the company’s first-quarter earnings surpassed expectations.
Nvidia’s strategic emphasis on AI chips has propelled its stock price in 2023. Amid AI-driven momentum, CEO Jensen Huang also recently said he felt safe about the company’s dependence on Taiwan for manufacturing.
Huang reassured investors saying TSMC would make his company’s next generation of products while adding Nvidia would continue diversifying. Various companies have recently voiced concerns about likely risks to the business from military threats by China against the democratic island of Taiwan.
Additionally, JP Morgan analyst Harlan Sur reiterated an Overweight rating on Nvidia Wednesday.
According to data from Benzinga Pro, NVDA has a 52-week high of $419.38 and a 52-week low of $108.13.
