Steven Cohen of Point72 Asset Management bought 1.5 million shares of Nvidia, increasing his stake by 75%. It is now his largest position excluding options. Meanwhile, he sold 1.5 million shares of Apple, completely exiting the position.

If the chip maker more than doubles its share price again in 2025, it could be the most valuable company in the world by a large margin.

Nvidia Chief Executive Jensen Huang is set to deliver the opening keynote speech at CES later on Monday and will likely unveil new videogame chips and detail efforts to parlay the company's success in artificial intelligence into other markets outside of the data center.

Nvidia shares have set a new record as investors and analysts prepare to hear from the man behind the $US3.66 trillion ($5.87 trillion) company, Jensen Huang, at a blockbuster presentation at the world’s biggest consumer electronics show CES.

Nvidia Corp. investors have high hopes that Monday’s speech from CEO Jensen Huang will spark a fresh breakout in the chipmaker’s shares, which just ended at their first record close since November.Huang is set to take the stage Monday evening at the closely-watched CES trade show in Las Vegas.