NVIDIA Corp's stock price increased by 1.1%, reaching a high of $879.00 and closing at $869.27.

The company's market cap is nearly $2.2 trillion.

Wall Street analysts rated NVIDIA as a 'Moderate Buy' with an average target price of $940.30.

Evercore ISI initiated coverage on NVIDIA with an 'outperform' rating and a price target of $1,160.00.

Demand for AI-related GPUs, especially from Nvidia, has driven a surge in semiconductor stocks.

While non-AI chip demand is recovering, industrial and automotive chip sectors face uncertainty.

The semiconductor industry is considered slightly overvalued, with digital chipmakers seen as particularly pricey.

Morningstar recommends undervalued semiconductor stocks like Infineon Technologies, STMicroelectronics, and Skyworks Solutions, focusing on the analog and mixed-signal chip sectors.