Nvidia (NVDA) Stock Gains 12% in Five Days - Can It Hold Into Earnings?
TLDR
- Nvidia stock has gained 12% over the past five trading sessions, trading around $219-$220.
- Elon Musk announced SpaceX will exclusively use Nvidia hardware going forward.
- 92% of sovereign AI models have been trained on Nvidia chips, per Counterpoint Research.
- Sovereign AI revenue more than tripled year over year to over $30 billion in fiscal year 2026.
- Susquehanna analyst Christopher Jacobson flagged Nvidia’s historical pattern of rallying in the two to three weeks before earnings.
Nvidia stock opened at $219.22 on Thursday, with premarket trading showing a gain of around 0.4% to $220.14. The stock has now risen 12% over the past five trading sessions.
The move comes ahead of the company’s next earnings report, scheduled for August 26.
Nvidia has a 52-week range of $164.07 to $236.54. Its market cap sits at $5.31 trillion, with a P/E ratio of 33.57.
One headline pushing the stock higher was Elon Musk confirming that SpaceX will exclusively use Nvidia hardware going forward. That kind of endorsement from a high-profile tech operator carries weight with investors.
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