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Nvidia Stock Rises. Guess Who's Not Going to Trump's Inauguration

Dow Jones01-18

NVIDIA stock was rising Friday, putting it on course to reverse its losses from a tough previous session.

Shares in the chip maker rose 3% to $137.71.

The move higher came as Barclays raised its price target on the stock to $175 from $160. Analyst Tom O'Malley said in a research note that he's expecting Nvidia's new Blackwell graphics processing unit to boost revenue by $15 billion for the first three months of this year, "with the potential to more than double quarter-on-quarter."

Friday will be the final trading session of Joe Biden's presidency. Markets will be closed for Martin Luther King Jr. Day on Jan. 20, when Donald Trump's inauguration as the 47th president is set to take place.

Tesla Motors CEO Elon Musk, Amazon.com founder Jeff Bezos, and Meta Platforms, Inc. boss Mark Zuckerberg are expected to sit together at the event -- but it doesn't look like Nvidia CEO Jensen Huang will be attending. He'll be in East Asia as part of a visit timed to coincide with the run-up to the Lunar New Year, according to a Bloomberg report that cited a person familiar with the matter. Nvidia declined to comment when contacted by Barron's via email.

Huang didn't endorse a candidate in the 2024 presidential election. He said in a TV interview last week that he'd be "delighted" to meet Trump at Mar-a-Lago but hadn't been invited yet.

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