Why Nvidia Is Pushing Accenture Stock Higher Today

Accenture (NYSE: ACN) stock is climbing higher in Tuesday's trading despite a bearish backdrop for the broader market. The company's share price was up 2.2% as of 1:15 p.m. ET, and had been up as much as 3.4% earlier in the session. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) was down 0.8%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down 1.5%.

Accenture is gaining ground today thanks to fresh news about its expanding partnership with Nvidia (NASDAQ: NVDA). Accenture profiled its new software suite built on technologies from the artificial intelligence (AI) leader, and other team-ups between the two companies have been highlighted at this year's CES trade show.

Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free »

Accenture, Nvidia are cooking up some exciting projects

In conjunction with the beginning of the CES trade show in Las Vegas and Nvidia CEO Jensen Huang's keynote address yesterday, Accenture announced the launch of its AI Refinery for Industry software suite. The service includes 12 industry-tailored agent solutions designed to help businesses and institutions build and deploy AI agents with specialized capabilities.

Accenture AI Refinery is build on Nvidia's AI Enterprise software and makes use of industry-specialized services, including Nvidia NeMo, Nvidia Nim, and Nvidia AI Blueprints. Through this combination of tools, customers will be able to cut the time that it takes to create and deploy AI agents and improve the overall quality of results.

Nvidia also published a post on its blog yesterday outlining the company's partnership with Accenture and KION Group to optimize supply chains for retail, consumer packaged goods, parcel services, and other categories. Huang discussed his company's Mega Omniverse Blueprint for developing, testing, and optimizing physical AI and robot fleets at scale during his CES keynote, and Accenture and KION were named as key early adopters of the platform.

What's next for Accenture?

Accenture appears to be on the verge of seizing massive opportunities in warehousing and industrial automation. As Nvidia's Huang said recently: "Future warehouses will function like massive autonomous robots, orchestrating fleets of robots within them. By integrating Omniverse and Mega into their solutions, KION and Accenture can dramatically accelerate the development of industrial AI and autonomy for the world's distribution and logistics ecosystem."

Despite existing business strengths and emerging AI opportunities, Accenture stock is up just 7% over the last year -- a performance that lags far behind the 26% level gain for the S&P 500 across the stretch. For investors looking to benefit from the rise of industrial automation, Accenture stock looks like a strong candidate right now.

Should you invest $1,000 in Accenture Plc right now?

Before you buy stock in Accenture Plc, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Accenture Plc wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $915,786!*

Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.

See the 10 stocks »

*Stock Advisor returns as of January 6, 2025

Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Accenture Plc and Nvidia. The Motley Fool recommends the following options: long January 2025 $290 calls on Accenture Plc and short January 2025 $310 calls on Accenture Plc. The Motley Fool has a disclosure policy.