Coinbase and Marathon Digital Holdings stocks were trading with impressive gains on Columbus Day as Nasdaq was trading nearly 1.2 percent higher. Cryptocurrencies were trading firm today with Bitcoin gaining almost 4.8 percent while Ethereum trading 6.5 percent higher. Despite the strength in cryptocurrencies, MicroStrategy Incorporated (MSTR) stock was trading 3.5 percent lower.

As cryptocurrency markets continue to gain further ground, key U.S.-listed stocks tied to the crypto sector—Coinbase (COIN), MicroStrategy (MSTR), and Marathon Digital Holdings (MARA)—are capturing the attention of investors. Each of these companies has a unique position within the broader blockchain and digital assets ecosystem, reflecting both the potential upside and volatility associated with cryptocurrencies.

Nvidia (NVDA) continues to surge as investor confidence in the company’s role in powering the artificial intelligence (AI) revolution grows. The chipmaker's stock is closing in on an all-time high, fueled by strong demand for its cutting-edge chips and favorable analyst outlooks. With Wall Street betting heavily on AI, Nvidia is positioned to potentially become one of the most valuable companies on the market. Below, we break down Nvidia’s stock performance, key developments, and why analysts are bullish on its long-term prospects.

Record Highs in Sight for Nvidia

Stock Performance Surge: Nvidia's stock rose more than 3% on Monday, trading above $138, edging closer to its all-time high of $135.58, which was set in June 2024. The company has seen consistent upward momentum in October, with the stock posting six consecutive days of gains earlier this month. Investors are clearly optimistic about the company’s leadership in the AI chip market.

October Rally and Market Sentiment: October has been particularly favorable for Nvidia, with the stock sharply rising amid increasing demand for its chips. As the AI sector continues to expand, Nvidia’s AI-focused GPUs are at the forefront of this technological revolution, driving optimism among investors. Nvidia's consistent upward trajectory signals strong market sentiment that the company’s AI dominance will continue to fuel its growth.

AI Growth Powers Nvidia’s Bull Run

KeyBanc’s Bullish Forecast: A key driver of Nvidia’s stock surge has been Wall Street analysts reiterating their bullish outlook. Last week, KeyBanc Capital Markets released a report estimating that Nvidia’s revenue from its Blackwell chips will reach $7 billion in the fourth quarter alone. This significant projection reflects the robust demand for Nvidia’s next-generation AI chips, which are expected to accelerate the company’s growth as AI adoption expands globally.

Demand for Older GPUs Remains Strong: In addition to its new Blackwell chips, demand for Nvidia’s older GPUs remains exceptionally high. As enterprises across industries race to adopt AI-driven solutions, Nvidia’s hardware continues to be the preferred choice for powering these capabilities. This broad demand for both new and existing products provides a stable foundation for Nvidia’s future revenue growth.

Nvidia’s Potential to Dominate Wall Street

Path to Becoming Wall Street’s Most Valuable Company: Nvidia’s rising stock price places the company in contention for becoming Wall Street’s most valuable company. As of its recent price surge, Nvidia’s market capitalization is climbing rapidly, positioning it to challenge tech giants like Apple and Microsoft for the top spot. With the company at the center of the AI boom, its valuation could see further upside as investors continue to bet on its AI leadership.

AI Revolution Drives Nvidia’s Market Value: The artificial intelligence revolution is widely regarded as one of the most transformative developments of our time, and Nvidia is well-positioned to benefit from this trend. As companies across sectors adopt AI technologies, Nvidia’s chips will play a central role in supporting AI processing and machine learning capabilities. This dynamic is propelling Nvidia’s market value higher, as investors anticipate the company’s continued dominance in the sector.

Analyst Confidence Remains Strong

Buy Ratings Reaffirmed: Wall Street analysts have shown unwavering confidence in Nvidia’s future prospects. Last week, several analysts reiterated their Buy ratings on Nvidia shares, emphasizing the company’s strong revenue potential and leadership in the AI chip market. As the demand for high-performance GPUs increases, analysts expect Nvidia to maintain its market leadership and capitalize on the AI boom.

AI-Driven Growth Outlook: Analysts are also bullish on Nvidia’s growth prospects due to the rapid expansion of AI-driven industries such as autonomous vehicles, healthcare, and cloud computing. With Nvidia’s chips serving as the backbone for AI applications, analysts project strong long-term earnings growth for the company.

Key Takeaways for Investors

Nvidia Approaching Record High: Nvidia’s stock is on track to reach new heights, driven by surging demand for its AI chips. The stock has climbed above $138, nearing its 52-week high of $135.58.

Wall Street Analysts Bullish on Nvidia: KeyBanc and other analysts have reaffirmed their Buy ratings, forecasting that Nvidia’s Blackwell chip revenue will hit $7 billion in the fourth quarter of 2024, with strong demand for both new and older GPUs supporting the bullish case.

AI Growth Powers Nvidia’s Valuation: Nvidia is well-positioned to capitalize on the AI revolution, potentially becoming Wall Street’s most valuable company. Its AI-focused technologies are driving increased market value and long-term growth potential.

SoFi Technologies (SOFI)

SoFi Technologies (SOFI) stock was trading 11 percent higher on Monday as buying continued in this counter. The stock has offered impressive returns to long term investors.