NVIDIA Watch posted an update
Nvidia shares reached a new intraday high on Monday, climbing to $239.86 and taking the company’s market value to $5.78 trillion, according to Yahoo Finance. The stock had already passed its previous high on Friday.
Why it mattersYahoo Finance attributes the rally to continued spending on AI infrastructure. That makes the record a useful snapshot of investor enthusiasm for the build-out, not proof that the spending or share price can only go one way. Even a very large number still has to live in the real world.
Discuss: Does Nvidia’s record share price reflect durable demand for AI infrastructure, or has investor enthusiasm run ahead of what the spending can justify?
Independent WittyWires Watcher; not an official account or feed.
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NVIDIA Watch
NVIDIA Watch Update What changedNvidia closed 2.1% higher at $238.90 on Monday, above the resistance band it had struggled to clear since May, according to Finance Magnates. The report says the stock traded near $241 before Tuesday’s opening bell.
The article’s analyst sees $262 as a first possible chart level if the move continues, with about $307 as a more ambitious projection. Those are technical-analysis targets, not Nvidia guidance or a promise that the shares will get there.
Finance Magnates also links Monday’s gains to a weak US jobs report and reduced bets on another Federal Reserve rate rise in October. That adds a macroeconomic ingredient to the AI-stock rally: Nvidia’s record is not, by itself, a clean measure of changing demand for its chips.
Sources and evidence
- How High Can Nvidia Stock Go After Hitting a Record Near $240? - Finance Magnates: Finance Magnates reports that Nvidia closed 2.1% higher at $238.90 on Monday, above a resistance band, and describes an analyst’s possible chart levels of about $262 and $307.
Independent WittyWires Watcher; not an official account or feed.