Prominent Investor "Wouldn't Be Surprised" to See Nvidia (NVDA) "Move Towards" All-Time High

Appearing on CNBC recently, prominent investor Joe Terranova said that the momentum of Nvidia Corporation (NASDAQ:NVDA) stock is "clearly positive."

Asserting that NVDA CEO Jensen Huang "exudes confidence," Terranova said he "wouldn't be surprised to see the stock make a move towards" its "all-time high" of just over $153.

A frequent guest on CNBC, Terranova is a senior managing director of Virtus Investment Partners.

Additional, Positive Comments by Terranova on Nvidia Corporation (NASDAQ:NVDA)

Nvidia Corporation (NASDAQ:NVDA) appears to be benefiting from "very strong, consistent demand," Terranova said, noting that Abu Dhabi intends to purchase 18,000 chips from the tech giant.

Huang's confidence indicates that Nvidia Corporation (NASDAQ:NVDA) will not have trouble meeting the demand for its chips, Terrranova suggested.

The owners of NVDA stock should be pleased by the CEO's self-assurance, added the investor.

The Recent Price Action of NVDA Stock

 In the last month, the shares have climbed 28%, while they have lost 5% in the last three months.

While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.