Shares of chipmaking giant and ‘Magnificent Seven’ darling Nvidia remained higher for the 11th straight session on Wednesday, 15 April, gaining another 2% and crossing the $200 mark to reach the day’s high of $200.40 apiece.
The stock reclaimed the key $200 level after a gap of five months, bringing it closer to its record high of $212.19 attained in October 2025. The stock had earlier attempted multiple times to cross the $200 level but failed to break it, with the last closest attempt recorded in late February when it touched $197.
Taking today’s high into account, the stock is now just 5.5% away from its peak level. The stock has risen cumulatively by 21.23% over the past 11 sessions, based on today’s high, marking its longest winning streak since October, which has also helped its year-to-date returns turn positive by 6%.
Nvidia has been drawing support from persistent demand for AI hardware. At its GTC conference last month, Nvidia Chief Executive Jensen Huang said the company had more than $1 trillion in GPU orders through 2027, including Blackwell and the next-generation Vera Rubin chips.
Jensen Huang has been a leading advocate for the use of AI across the economy, urging companies to experiment with how the emerging technology can benefit their businesses. The company invested $70 billion in partners and customers in the fiscal year that ended in January to further AI adoption, Bloomberg reported.
Meanwhile, the company pushed back on a report that it was seeking to buy a large PC maker. It clarified that it was not in talks to acquire any computer manufacturer after speculation briefly lifted Dell and HP shares.
Besides, the company launched a new artificial intelligence model—Ising—which has renewed expectations that AI can improve quantum computing and make it scalable and more useful.
AI spending by Big Tech to determine next leg of Nvidia rally
The recent rally has provided major relief for shareholders, as the stock had delivered muted returns in recent months amid concerns that megacap technology companies would not see meaningful returns on heavy spending to build artificial intelligence infrastructure anytime soon.
Apart from concerns around AI investments, rising competition also dampened sentiment. Broadcom, for instance, has extended its partnership with Meta Platforms today to support the latter’s artificial intelligence infrastructure, while Amazon has discussed selling more of its own custom AI chips to third parties.
Looking ahead, the rally depends on the Big Tech earnings, kicking off later this month. Nvidia investors will be looking for continued increases in capital expenditure. Investors are focused on whether large technology firms will sustain or ramp up spending on artificial intelligence infrastructure.
More specifically, they are seeking confirmation that next-generation AI models are being trained on Nvidia’s current Blackwell architecture.
(With inputs from Bloomberg)
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
