Nvidia stock price flirting with a record high

Nvidia CEO and president Jen-Hsun Huang plays with a game using Nvidia’s Physx technology for gaming, at the International Consumer Electronics Show in Las Vegas, Thursday, Jan. 8, 2009.AP Photo / Paul Sakuma

• Nvidia shares came within a penny of their record high on Thursday.
• The chipmaker announced its new GeForce graphics cards on Monday.
• Oppenheimer recently upgraded Nvidia to “outperform.”
• Watch Nvidia trade in real-time here.

Nvidia shares are trading near record highs on Thursday, touching an intraday high of $269.19 — just a penny below their record high set on June 14.

Shares have been rallying since Monday afternoon, following CEO Jensen Huang’s announcement of the company’s next generation of GeForce graphics cards at an event in Germany. The chipmaker also introduced its new technology — real-time ray tracing — which supports more cinematic and realistic rendering for animation or video games based on Nvidia’s Turing architecture.

Nvidia’s stock jumped by as much as 3% on Monday after the news. 

This rising momentum comes despite the company trimming its third-quarter revenue forecast last Friday, and said its cryptocurrency-mining business won’t make any money going forward.

Get the latest Nvidia stock price here >>