Nvidia stock closes at a record high for the first time since October

The stock closed up 4.3% at $208.26, surpassing the closing record set in October and has rebounded 26% from its low point in late March. The recent strong performance is driven by market expectations that major companies will continue to invest heavily in artificial intelligence, thereby fueling NVIDIA’s long-term growth. Large technology stocks have generally performed strongly recently. Given robust growth expectations and lower valuations earlier this year due to a pullback, investors have returned to this sector. Chipmakers have been particularly strong, with the Philadelphia Semiconductor Index rising for 18 consecutive trading days, marking the longest streak on record. Strong recent results from Texas Instruments and Intel have also supported the sector.