Nvidia stock has surged 25% in the past month, reaching a nearly record high before upcoming tech company earnings.

• As tech earnings season approaches, Nvidia's shares have increased by 25% in the past month and are getting closer to a new record high.
• This year, the company that has been the primary beneficiary of the artificial intelligence boom has experienced a stock increase of over 165%. In 2023, its stock tripled.
• Nvidia's chips are being increasingly invested in by top tech companies like Meta, Alphabet, Microsoft, Oracle, and OpenAI as they continue to reveal new AI technologies and products.

In the past month, shares have experienced a 25% increase and are approaching a record high before the upcoming tech earnings season, during which major investors such as , and will reveal their anticipated investments in artificial intelligence.

Nvidia has experienced a sharp rebound from a brief dip in late August and early September, with its stock price rising from around $132 on Wednesday to its closing high of $135.58 in July. As a result, Nvidia has surpassed Microsoft as the second-most valuable company, behind only Apple.

The AI boom has benefited Nvidia the most, with companies such as OpenAI, Alphabet, Microsoft, and others investing heavily in its graphics processing units (GPUs) for their AI technologies and products.

In August, Nvidia reported second-quarter earnings with revenue increasing by 122% year-over-year and net income more than doubling to $16.6 billion. Additionally, the company provided stronger-than-expected guidance for the current quarter and announced it expects to ship several billion dollars worth of its new Blackwell AI chip. Due to high demand, Nvidia anticipates an increase in shipments for its current-generation Hopper chip over the next two quarters.

Analysts predict that NVDA will continue to dominate the AI training and inference chips market for Data Center applications, with an estimated 95% market share. However, they also noted potential risks such as escalating export restrictions to China, geopolitical tensions regarding Taiwan, or a significant decrease in AI server spending. Despite these risks, the analysts have set a $140 price target on the stock.

In an interview on CNBC's "Closing Bell Overtime," CEO Jensen Huang stated that the demand for the Blackwell chip is "insane" and that everyone wants to have the most and be first. Production for the GPU, which will cost between $30,000 and $40,000 per unit, is expected to increase in the fourth quarter and continue into fiscal 2026.

Nvidia shares rose by 4% on Sept. 23, following a report that Huang had sold off his company's stock. Despite this, the stock had also gained ground in the previous month due to other factors.

— CNBC's Michael Bloom contributed to this report.

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