New York, January 5, 2026, 10:18 (EST) — Regular session
Nvidia (NVDA.O) shares rose about 0.7% on Monday to $190.12, holding near the day’s high of $193.58 as investors positioned ahead of CEO Jensen Huang’s CES appearance later in the day. The stock has traded between $189.48 and $193.58 so far.
The early move matters because Nvidia often sets the tone for the “AI trade” — investor positioning in companies seen as key beneficiaries of artificial intelligence spending — and the sector is starting the year with a packed catalyst calendar. Markets are also recalibrating interest-rate expectations, a key driver for high-valued growth stocks.
Fresh demand data out of Asia added to the bid for AI-linked chip names. Taiwan’s Foxconn, a major supplier to Nvidia, said fourth-quarter revenue jumped 22.07% from a year earlier to T$2.6028 trillion ($82.73 billion) on strong demand for AI products, and it flagged robust demand for AI server rack products into the first quarter. 1
CES is amplifying the focus on AI beyond data centers, with autonomous-driving and automation themes expected to draw investor attention this week. “This year you will see more and more focus on AI and autonomous,” said C.J. Finn, PwC’s U.S. automotive industry leader, as the Las Vegas show shifts emphasis from electric-vehicle launches toward software and driverless technology. 2
Nvidia is hosting a CES presentation featuring Huang at 1 p.m. PT in Las Vegas, where the company said he will outline “what’s next in AI.” Traders will listen for any fresh signposts on product roadmaps and how quickly AI features are spreading into consumer devices, cars and industrial systems. 3
Other chip-linked movers were mixed in morning trading. Advanced Micro Devices (AMD.O) rose about 0.7%, while Broadcom (AVGO.O) fell about 2.1% and Arm Holdings (ARM.O) gained about 5.3%, underscoring the stock-picking tone inside the broader AI complex.
Macro data is also in play for AI stocks because higher inflation can keep bond yields elevated, weighing on richly valued tech. The ISM said U.S. manufacturing contracted for a 10th straight month in December, and its “prices paid” gauge — a proxy for input-cost pressure — stayed elevated at 58.5, adding to the debate over how quickly inflation cools. The next major test is Friday’s U.S. employment report for December, scheduled for Jan. 9 at 8:30 a.m. ET. 4
The downside scenario is a rates shock driven by the very AI buildout investors are chasing. A Reuters analysis on Monday highlighted concerns that the data-center boom and heavy corporate AI investment could add to inflation pressure, raising the risk that central banks pause rate cuts — or tighten again — and hit AI-linked valuations. 5
Beyond CES, investors are also looking toward Nvidia’s next results for clarity on demand and supply across its data-center business. Nvidia’s investor relations calendar lists its fourth-quarter fiscal 2026 financial results event on Feb. 25, giving traders a fixed date for the next major company catalyst. 6
For now, the immediate focus stays on Huang’s CES appearance at 1 p.m. PT.
