NVIDIA share price hit a new all-time high on Tuesday, marking a year-to-date gain of 15.68 per cent. The company is now on the verge of surpassing Apple’s record closing market capitalization of $3.915 trillion.
NVIDIA’s shares were up over 1.11 per cent ended the day at $160 on July 8, and if the price rises above $160.46, it will set a new global market cap record. If NVIDIA’s share price climbs to $163.93, it will become the first company ever to achieve a $4 trillion market capitalization.
The surge in NVIDIA stock is partly linked to reduced worries over U.S. regulatory restrictions, with other American chipmakers also seeing gains on Tuesday. AMD’s shares increased by 2.24 per cent, Intel jumped 7.2 per cent, and Qualcomm edged up by 0.9 per cent.
What led to the rally?
NVIDIA’s share price has been climbing steadily since late April, driven by market expectations that the ongoing rise in demand for artificial intelligence will keep enhancing its earnings.
Chinese technology companies have outlined plans to deploy over 115,000 Nvidia AI chips across at least 36 data centers located in remote western regions, including a large facility in Xinjiang, according to a Bloomberg report. If fully implemented, this infrastructure could be capable of supporting cutting-edge AI systems comparable to foundational models such as DeepSeek.
The report further revealed that it is confirmed the likely presence of some banned Nvidia semiconductors in China, but uniformly expressed skepticism about the country’s ability to coordinate a covert network capable of delivering such high volumes undetected.
NVIDIA share price – where’s it headed?
According to Anshul Jain, Head of Research at Lakshmishree Investment, Nvidia share price has decisively broken out of a well-formed 163-bar double bottom pattern at $159, setting the stage for fresh upside momentum.
“ Bulls are now eyeing an initial target near $175, with the broader breakout objective stretching towards $190. Despite relatively muted volumes — typical in mega-cap stocks — the price action indicates substantial underlying accumulation. A sustained move above $159 confirms the reversal of prior weakness and could attract further institutional flows. Traders should watch for any dips towards the breakout level as potential buying opportunities. With robust AI and chip demand, Nvidia’s technical setup aligns well with its fundamental tailwinds,” Jain said.
(With inputs from agencies)
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