Nvidia ‘still undervalued’ as stock jumps 4% to new record

Nvidia jumped to a fresh all-time high Monday as the AI chipmaker presented at CES and investors digested new reports about its business with China. Shares of Nvidia surged more than 4%, to over $514 apiece, which puts the stock on pace for a record close. Nvidia’s current all-time high came on Nov. 20, when it hit $504.09 per share. Including Monday’s intraday gains, the stock has advanced more than 27% since its recent low on Oct. 26. The S & P 500 is up about 14% during the same timeframe. “I think the company still is very undervalued,” Jim…