As of 11:06 AM EDT on March 17, 2025, NVIDIA Corporation (NASDAQ: NVDA) stock is experiencing a slight downturn, trading at $119.08, a decrease of $2.59 or 2.18% from its previous close of $121.67. This movement comes on the first day of NVIDIA’s highly anticipated GPU Technology Conference (GTC) 2025, which kicked off today in San Jose, California, and runs through March 21. With the tech world buzzing about potential AI breakthroughs and product unveilings, investors are closely watching NVIDIA’s stock as the event unfolds.
Morning Trading Activity
NVIDIA opened the day at $122.74, reflecting a modest optimism in pre-market sentiment, possibly fueled by the excitement surrounding GTC. However, the stock has since slipped, fluctuating within a range of $119.01 to $122.89. Trading volume has been robust, with over 97.6 million shares exchanged by late morning, signaling heightened investor interest as the conference begins. The bid price sits at $119.07 with a size of 3, while the ask is $119.08 with a size of 4, indicating tight spreads and active market participation.
Context Ahead of GTC 2025
The GTC conference, billed as the "world’s premier AI conference," is a pivotal event for NVIDIA, drawing over 25,000 in-person attendees and 300,000 virtual viewers. The spotlight will be on CEO Jensen Huang’s keynote address scheduled for Tuesday, March 18, at 10 AM PT, where he is expected to unveil advancements in AI, accelerated computing, and possibly the next generation of NVIDIA’s hardware, such as the Blackwell Ultra GB300 chips. This comes at a time when NVIDIA has faced a challenging start to 2025, with its stock down roughly 16% year-to-date after a remarkable 238% surge in 2023 and 171% in 2024.
Analysts and investors are looking to GTC for catalysts that could reverse this year’s underperformance. Historical data from Wells Fargo suggests NVIDIA typically outperforms peers during GTC week, with an average outperformance of 6.5 percentage points against the iShares Semiconductor ETF (SOXX) over the past five years. Posts on X also reflect optimism, with users noting a potential "game-changer" if NVIDIA unveils significant updates to its Blackwell or Rubin architectures.
Market Sentiment and Expectations
Despite today’s dip, sentiment remains cautiously optimistic. Bank of America recently called NVIDIA’s valuation “very compelling” ahead of GTC, citing its product pipeline and leadership in AI computing. Bernstein analyst Stacy Rasgon has also expressed favorability toward NVIDIA at current levels, suggesting the stock’s pullback from its 52-week high of $195.95 presents a buying opportunity. However, the broader market’s volatility and NVIDIA’s year-to-date decline of nearly 18%—exacerbated by competitive pressures from firms like China’s DeepSeek—have kept some investors on edge.
Today’s trading range, still above the 52-week low of $75.61, indicates that while the stock is under pressure, it retains significant support. The conference’s developments, particularly tomorrow’s keynote, could serve as a turning point. Analysts anticipate updates on NVIDIA’s AI hardware, quantum computing initiatives, and strategic partnerships with tech giants like Microsoft and Amazon, all of which could bolster investor confidence.
Looking Ahead
With GTC just beginning, NVIDIA’s stock movement today may reflect a mix of profit-taking and anticipation rather than a definitive reaction to the event itself. The real test will come with Huang’s keynote and subsequent announcements, which could either ignite a rally or deepen the current consolidation, depending on how they measure up to sky-high expectations. For now, the stock’s 2.18% decline suggests a wait-and-see approach among traders, but the high volume underscores that NVIDIA remains firmly in the spotlight.
As the day progresses and the conference unfolds, investors will be keen to see if NVIDIA can reclaim momentum and solidify its position as the AI market leader. With its stock currently trading at a discount to its three-year median valuation, according to Wells Fargo, the stage is set for GTC 2025 to potentially reshape NVIDIA’s trajectory in 2025.
