Nvidia (NVDA) Stock Rises Over 10% as SpaceX Chip Deal Boosts Sentiment
TLDR
- NVDA rose more than 10% for the week, closing at $223.96 on Friday
- SpaceX announced it will build data centers on Earth and in orbit using Nvidia chips exclusively
- Nvidia is reportedly testing reduced HBM memory configs for its upcoming Rubin Ultra chip due to a global shortage
- AMD dropped roughly 8% despite beating Q2 estimates, though it ended the week just under 2% higher
- Analysts hold a consensus “Buy” rating on NVDA with an average price target of $304.26
Nvidia stock closed at $223.96 on Friday, capping a week where it gained more than 10%. The Philadelphia Semiconductor Index also had a strong run, rising over 8% across the five trading days.
The rebound follows a rough stretch for semis, where fears about AI valuations and whether fundamentals could support them weighed on the sector. Those concerns eased this week as sentiment shifted.
A major catalyst came from SpaceX. During the company’s first-ever earnings call on Tuesday, Elon Musk announced SpaceX would build data centers both on the ground and in orbit using Nvidia’s chips exclusively.
… Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
