Nvidia Stock Skyrockets 82.5% in Q1 2025 Amid AI Boom—Watch This Crucial Chart Pattern

Nvidia’s stock soared over 82.5% in the first quarter of 2024, fueled by unprecedented enterprise AI demand, stellar quarterly earnings, and the debut of its cutting-edge Blackwell platform.

Key Highlights

• Nvidia’s shares surged more than 80% in Q1 2024, powered by relentless AI adoption, exceptional earnings, and the introduction of the Blackwell platform.
• The company posted an astounding 265% year-over-year revenue increase in Q4 2023, with CEO Jensen Huang projecting strong growth prospects into 2025 and beyond.
• Nvidia reinforced its AI market leadership by unveiling new products and forming strategic alliances with tech giants like Amazon, Microsoft, and Google at its GTC developers conference.
• Investors should closely watch Nvidia’s stock chart for breakout signals within a critical channel pattern to anticipate future price movements.

In early 2024, Nvidia capitalized on a surge in AI stock enthusiasm as enterprises ramped up investments in AI infrastructure to keep pace with rapid technology adoption. The company’s shares hit a new all-time high in February after Goldman Sachs raised its price target, citing Nvidia’s innovation leadership and robust hardware and software ecosystem.

In late February, Nvidia dispelled concerns of an AI stock bubble by delivering an exceptional Q4 earnings report, boasting a 265% revenue jump year-over-year and providing an optimistic outlook. CEO Jensen Huang emphasized that conditions remain excellent for sustained growth through 2025 and beyond.

The quarter culminated with the launch of Nvidia’s next-generation Blackwell platform at the GTC developers conference, further cementing its dominance in the AI sector. The event also featured announcements of key partnerships with industry leaders Amazon, Microsoft, and Google.

From a stock performance perspective, Nvidia’s shares climbed to $903.56 by the end of Q1 2024, marking a remarkable 82.5% gain and building on its triple-digit growth from the previous year. Monthly gains included 24.2% in January, 28.6% in February, and 14.2% in March, placing Nvidia among the top performers in the S&P 500.

Technically, Nvidia’s stock began the quarter testing its 50-day moving average before embarking on a strong upward trend. As of late March, the price trades approximately 18% above this key indicator, reflecting robust bullish momentum.

Currently, Nvidia’s stock price consolidates within a narrow channel just below its all-time high. Investors should watch for breakouts above or below this channel, which could signal the next major move. A drop below the channel’s support might trigger a retest of the 50-day moving average and a potential double top pattern, while a breakout above resistance could propel the stock to new highs.

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As of this article’s publication, the author holds no positions in the securities mentioned.

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