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We asked ChatGPT-4 what will Nvidia stock price be at end of 2024

We asked ChatGPT-4 what will Nvidia stock price be at end of 2024

In October 2022, Nvidia (NASDAQ: NVDA) took a decisively upward trajectory and surged in approximately 15 months from about $120 to the latest closing share price of $875.28. 

The staggering rise – amounting to more than 250% in the last 52 weeks – led many to wonder if the blue-chip chipmaker would soon rise above $1,000.

Still, the semiconductor giant’s stock took one of the most troubling hits in recent memory on Friday, March 8. Having climbed above $950 in the day’s premarket, it abruptly dropped more than 5% and found itself below $900.

In this climate of general optimism and recent shock, Finbold decided to consult the most advanced model of OpenAI’s premier artificial intelligence (AI) platform – ChatGPT – to try and figure out where Nvidia stock might stand at the tail-end of 2024.

ChatGPT-4 predicts December 31 Nvidia stock price

At the start of its assessment, ChatGPT-4 reflected on Nvidia’s recent growth – in the stock market as well as on the business side – and its dominant position in the semiconductor industry. 

Before proceeding to provide a price target, the AI also acknowledged the current conditions in the economy – and the associated risks – as well as the fact that NVDA has multiple competitors, each capable of significantly challenging Nvidia’s leadership under the right circumstances.

ChatGPT discussed factors important for NVDA. Source: Finbold and ChatGPT

Based on these factors, ChatGPT concluded NVDA shares are most likely to find themselves in the range between $920 and $940 – near the press time highs but not substantially above them. When asked to settle for a singular price target, the AI settled for $930.

ChatGPT-4 settles for an NVDA target price. Source: Finbold and ChatGPT

When challenged about the fact that the target – supposed to be reached in another 9 months – appears low given Nvidia’s recent performance, ChatGPT acknowledged the explosive historic growth but remained adamant that its figure is designed to account for what it calls a “normalization” of growth rates and market conditions.

ChatGPT-4 defends the $930 NVDA target. Source: Finbold and ChatGPT

ChatGPT was, however, willing to also offer a bullish price target – $1,200 – and stated that, along with more generalized positive developments, such a value surge could be driven by a major breakthrough in gaming or a hastening pace of growth for AI and data centers.

ChatGTP-4 outlines a bull case for NVDA stock. Source: Finbold and ChatGPT

On the flip side, OpenAI’s most advanced model also explained that it isn’t outside the realm of possibility that a rival might topple Nvidia – most likely with a major technological advancement – that the market might become saturated, or that a severe economic downturn starts. Such conditions, ChatGPT-4 concluded, could lead to Nvidia falling to $750 by December 31.

ChatGTP-4 outlines a bear case for NVDA stock. Source: Finbold and ChatGPT

Nvidia stock price chart

While ChatGPT-4 favors the optimistic but conservative estimate, Nvidia’s recent performance has hardly been conservative. In the last 52 weeks, the NVDA stock rose 273.48% and its surge in 2024 is nothing short of impressive at 81.71%.

Still, Friday trading brought an abrupt shift and saw NVDA shares rapidly drop and end the day 5.55% in the red at $875.28. Still, despite the daily decline, Nvidia is still up by 4.04% on the weekly chart.

NVDA 7-day stock price chart. Source: Finbold

Finally, the extended session hints at a possible protracted decline as Nvidia shares have fallen another 2% since the market’s close on Friday, March 8, to approximately $855.

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