Nvidia, the leading stock in artificial intelligence (AI) chips, continued its upward trend for the third consecutive day, reclaiming the $120 level during trading on the 14th (local time).

As of 12:21 p.m. Eastern Time (9:21 a.m. Pacific Time), Nvidia’s stock price was trading at $120.96 (175,873 KRW), up 4.65% from the previous day.

After dropping to $106.97 on the 10th, sparking speculation of a correction phase, the stock has since risen for three straight days, reaching the $120 mark. On this day, the stock even surged by more than 5% at one point.

Nvidia’s gains outpaced other major tech giants experiencing inflows of bargain hunters, such as Apple (up 1.39%), Tesla (up 3.19%), and Microsoft (up 2.12%).

The day’s stock price increase is attributed to positive earnings forecasts from Taiwan’s Foxconn.

Better known as Apple’s largest partner, Foxconn announced that it expects its AI server revenue to exceed 1 trillion Taiwan dollars (approximately 44 trillion KRW) in 2025.

Foxconn is currently building the world’s largest server manufacturing facility in Mexico, equipped with Nvidia’s GB200 superchip.

Foxconn Chairman Young Liu stated, “We expect first-quarter AI server revenue to double compared to both the previous quarter and the same period last year.”

This outlook is interpreted as a signal that demand for AI chips, particularly Nvidia’s graphics processing units (GPUs), will remain strong this year, even amid concerns of an economic slowdown due to the Trump administration’s tariff war.

Anticipation for Nvidia’s upcoming AI conference next week is also supporting the stock price.

CEO Jensen Huang is scheduled to deliver a keynote address on the 18th, drawing attention to the next-generation AI chips following the Blackwell series.

Bank of America analyst Vivek Arya recently predicted, “Nvidia will announce compelling updates that meet expectations,” adding, “These will include upgrades focused on the Blackwell Ultra inference model, the Rubin chip set to launch after 2026, next-generation networking with improved scalability, and long-term opportunities in autonomous vehicles, physical AI, robotics, and quantum computing.”

The analyst maintained a “buy” rating on Nvidia, setting a target price of $200.

Investors are hopeful that this conference will serve as a catalyst to improve market sentiment toward AI following recent sharp declines in the stock price.

Wedbush Securities analyst Dan Ives forecasted, “This conference will provide a turning point for tech stocks, refocusing Wall Street on AI innovation and the massive tech investments ahead.”