Nvidia (NVDA) Shares Jump 4%-Can the Rally Reach $236?

TLDR

• Nvidia shares rose over 4% to close at $219.22, their highest level in two months.
• The stock gained 10.47% over five trading sessions as AI demand remained strong.
• Higher spending plans from Microsoft, Amazon, Alphabet, and Meta supported investor confidence.
• SpaceX said it plans to use Nvidia chips for its future AI computing infrastructure.
• Nvidia shares broke above a descending channel formed since May, signaling stronger momentum.

Nvidia (NVDA) shares rose more than 4% on August 5, closing at $219.22 and reaching their highest level in two months. The stock has gained 10.47% across five sessions as investors respond to stronger AI spending plans and fresh demand signals from major technology companies.

Nvidia Shares Gain on AI Spending

Microsoft, Amazon, Alphabet, and Meta reported capital spending above market forecasts during their latest earnings updates. Each company also plans to expand spending on data centers, AI systems, and cloud infrastructure over the coming quarters.

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