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NVIDIA Corp (NASDAQ:NVDA) reached a new milestone Monday, with its shares climbing 4.14% to close at an all-time high of $143.71, prompting a notable response from CNBC’s Jim Cramer.
What Happened: Following the stock’s record-setting performance, Cramer took to X (formerly Twitter) stating, “Nvidia, own it don’t trade it,” while questioning the decision of those who “sold in low 200s because of negative analysts.”
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Wedbush Securities analyst Dan Ives endorsed Cramer’s sentiment, responding with trophy emojis symbolizing achievement and success.
Cramer has consistently used similar bullish market terminology when discussing both Nvidia and Apple Inc.
On Monday, the semiconductor manufacturer’s stock traded between $138 and $143.71 during the session, marking both an intraday and 52-week high, a substantial increase from its 52-week low of $39.23. The surge reflects growing demand for Nvidia’s graphics processing units, particularly from hyperscalers expanding their data centers with advanced AI capabilities.
The company recently expanded its AI portfolio by quietly introducing a new model, Llama-3.1-Nemotron-70B-Instruct, which has reportedly outperformed competitors in benchmark tests.
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Why It Matters: This development is significant as it underscores Nvidia’s continued dominance in the AI sector, a position that has been reaffirmed by analysts as a “generational opportunity.”