Nvidia’s stock remains at the center of the AI trade as of Tuesday, December 2, 2025. After another blowout earnings report and a fresh $2 billion strategic bet on Synopsys, the chipmaker is still posting eye‑watering growth — even as investors debate whether its $4+ trillion valuation leaves more upside or sets up an AI bubble risk. [1]
Below is a news-style roundup of the key Nvidia (NVDA) developments, forecasts and analyses as of December 2, 2025, based on major financial news outlets, company filings and analyst data.
Nvidia stock price today: still elevated, but off its peak
At midday on December 2, Nvidia shares are trading around $181 per share, up modestly on the session and roughly in line with real‑time quotes from major data providers. [2]
Key context around the current price:
- Six‑month performance: NVDA is up about 27% over the past six months, comfortably outpacing the broader semiconductor industry. [3]
- Year-to-date and 52‑week range: Shares are up around 31% in 2025, trading about 12% below their 52‑week high near $207, with a 12‑month low around $87. [4]
- Trend vs moving averages: The stock is hovering below its 50‑day moving average (mid‑$180s) but above its 200‑day moving average (around $170), reflecting a recent pullback after a long rally. [5]
- Valuation:
- On trailing numbers, NVDA trades at roughly 50× earnings, with a market cap near $4.3 trillion. [6]
- Bloomberg reporting indicates that after a recent slump the stock now trades at under 26× forward earnings, down from about 34× earlier in the year — near the lower end of its recent valuation range. [7]
- Charles Schwab notes that Nvidia’s forward P/E around 30 still sits notably above the S&P 500’s multiple near 22, leaving “little room for disappointment.” [8]
In other words, Nvidia is no longer priced at peak AI euphoria, but it is still on a rich multiple that assumes years of high growth.
Earnings recap: AI data centers are powering record results
Nvidia’s latest Q3 fiscal 2026 results (quarter ended October 26, 2025) confirmed that AI demand remains enormous. According to Nvidia’s own release: [9]
- Revenue: $57.0 billion, up 62% year over year and 22% quarter over quarter.
- GAAP diluted EPS: $1.30, up about 67% from a year ago.
- Data Center revenue:
- Record $51.2 billion, up 66% vs. last year and 25% sequentially.
- Accounted for roughly 90% of Nvidia’s total sales in the quarter. [10]
A Zacks/Nasdaq analysis emphasizes how concentrated that growth is: the data center segment is now firmly Nvidia’s “most powerful growth engine,” driven by shipments of its latest Blackwell and Hopper 200 GPU platforms to cloud providers and enterprises scaling their AI infrastructure. [11]
Q4 2026 guidance: growth still accelerating
Nvidia’s outlook for the current quarter remains aggressive: [12]
- Q4 revenue guidance: $65 billion (±2%), implying about 66% year‑on‑year growth.
- Gross margin: around 75%, near record levels.
Reuters notes that this guidance beat Wall Street expectations and temporarily calmed fears that the AI infrastructure build‑out was turning into a bubble. CEO Jensen Huang reiterated that from Nvidia’s vantage point AI demand looks durable, not speculative — and he highlighted around $500 billion in advanced‑chip bookings through 2026. [13]
New catalysts: $2B Synopsys stake and fresh AI partnerships
Beyond earnings, Nvidia has moved aggressively to deepen its role across the semiconductor and AI stack.
$2 billion investment in Synopsys
In late November and early December, Nvidia announced a $2 billion equity investment in Synopsys (SNPS), one of the world’s leading chip‑design software companies. [14]
Key details:
- Nvidia acquired roughly a 2.6% stake in Synopsys, paying an average of about $414.79 per share. [15]
- The companies plan to integrate Nvidia’s CUDA‑X and AI platforms directly into Synopsys’ design tools, effectively pushing Nvidia GPUs and software deeper into the chip design workflow. [16]
Analysts view this as a form of vertical integration: Nvidia is trying to influence how future chips are designed, not just how they are manufactured and deployed. Finviz notes that Nvidia shares initially jumped about 2.6% on the news before settling to a gain of about 1.1%, reflecting the market’s view that the move is meaningful but not game‑changing on its own. [17]
Partnerships with HPE and Fanuc
The Synopsys stake sits alongside other partnerships announced or highlighted in recent days: [18]
- Hewlett Packard Enterprise (HPE): Launching an AI Factory Lab in France, built on Nvidia technology, to let European customers test AI workloads while respecting EU data‑sovereignty rules. [19]
- Fanuc (Japan): Integrating Nvidia platforms into industrial robots that can respond to verbal commands, pushing Nvidia deeper into AI‑powered robotics. Fanuc shares jumped on the announcement, underscoring investor enthusiasm for this use case. [20]
- Major AI infrastructure deals: Nvidia’s own Q3 summary highlighted partnerships with OpenAI (at least 10 gigawatts of Nvidia systems), Google Cloud, Microsoft, Oracle, xAI, Meta and others to build AI supercomputers and data center infrastructure worldwide. [21]
Together, these deals reinforce Nvidia’s strategy of being not just a chip vendor, but the default platform for AI computing.
At the same time, Amazon AWS is both a customer and a competitor
Adding a twist to the narrative, Amazon Web Services announced today that it will: [22]
- Integrate Nvidia’s NVLink Fusion interconnect into its future Trainium4 AI chip,
- While simultaneously rolling out new Trainium3 servers that it claims deliver 4× the compute of the previous generation while using 40% less power.
AWS is clearly competing aggressively on price‑performance with Nvidia’s GPUs, but it’s also embedding Nvidia’s networking technology into its future silicon — simultaneously partnering with and challenging Nvidia in AI infrastructure. [23]
Schwab’s earnings preview has already flagged this dynamic: hyperscalers increasingly want their own custom chips (or AMD alternatives), even as they continue to buy Nvidia’s GPUs in massive volumes. [24]
What Wall Street is saying: still overwhelmingly bullish
Despite November’s pullback, analyst sentiment around Nvidia remains strongly positive.
Consensus ratings and 12‑month price targets
Data from StockAnalysis shows that: [25]
- 39 analysts currently cover NVDA, with a consensus rating of “Strong Buy.”
- The average 12‑month price target stands at $248.64, implying roughly 37% upside from around $181.
- Targets range from $100 on the low end to $352 on the high end, reflecting a wide dispersion of views on long‑term AI demand and competition.
MarketBeat, which tracks a somewhat broader analyst set, reports an average price target around $258.65, with 5 “Strong Buy,” 46 “Buy,” 2 “Hold” and 1 “Sell” ratings. [26]
Morgan Stanley and other big banks turn more bullish
Multiple big banks have raised their targets following Nvidia’s Q3 print and Q4 guidance:
- Morgan Stanley lifted its target from $235 to $250 and maintained an “overweight” rating, implying roughly 40% upside. [27]
- The firm’s Asia trip left analysts convinced that Chinese AI hardware competitors still lag significantly, and that supply constraints, not competition, remain Nvidia’s main limiter. [28]
- Other banks including Bank of America, Barclays, JP Morgan and KeyCorp have also raised their price targets, many into the $250–$275 range. [29]
A UK‑focused Motley Fool column even argued that a £7,000 position in Nvidia today could be worth much more in 12 months if consensus targets are met, reflecting the persistent optimism among growth‑oriented investors. [30]
Revenue and earnings outlook: 2026–2027 and beyond
Street’s revenue and EPS forecasts
Analyst aggregates show expectations for continued rapid growth, though at a slower pace than 2024–2025:
According to StockAnalysis: [31]
- Revenue 2026: ~$211 billion (up ~62% vs 2025).
- Revenue 2027: ~$289 billion (up ~37% vs 2026).
- EPS 2026: $4.61 (up ~57% vs 2025).
- EPS 2027: $6.73 (up ~46% vs 2026).
S&P Global Ratings, which recently revised Nvidia’s outlook to “Positive”, projects revenue of around $205 billion in fiscal 2026 and $272 billion in fiscal 2027, broadly in line with Street expectations but emphasizing the company’s balance sheet strength and cash generation. [32]
Independent price predictions out to 2030
A new 24/7 Wall St. model published today offers a longer‑dated price path: [33]
- 2025 target: $233.16 (~30% above today).
- 2026: $300.14.
- 2030: $318.42, implying roughly 77% upside over today’s price, based on an EPS estimate of $7.24 and a 2030 P/E multiple of 50.
- Their high‑case 2030 target is $506.80, while the low‑case scenario is $217.20.
These are scenario‑based projections, not guarantees, but they illustrate that many forecasters expect Nvidia to keep growing into its premium valuation rather than collapsing from it.
The bull case: why optimists still love Nvidia stock
Pro‑Nvidia arguments dominate current coverage and research notes:
- AI data center leadership and market share
Estimates still place Nvidia’s share of the AI accelerator market around 80–90%, even as AMD, Intel and in‑house cloud chips begin to ramp up. [34] - Sustained explosive growth
- Q3 FY26 revenue up 62%, Q4 guided up 66%, with data center sales up 66% year‑on‑year. [35]
- Zacks/Nasdaq notes that Nvidia generated $23.75 billion in free cash flow in the third quarter alone, with more than $60 billion in cash and securities on its balance sheet — giving it ample firepower for R&D, capacity and buybacks. [36]
- Massive booked demand
Jensen Huang’s comments about $500 billion in advanced‑chip bookings through 2026 suggest a multiyear runway of AI infrastructure spend already lined up with hyperscalers and enterprise customers. [37] - Ecosystem and software lock‑in
Nvidia’s CUDA stack, networking (NVLink, Spectrum‑X), and growing software/services business create a high‑switching‑cost ecosystem around its hardware. The Synopsys deal extends that ecosystem straight into EDA design tools. [38] - Valuation relative to its own history
While not “cheap” in an absolute sense, MarketWatch/Morningstar commentary argues that recent weakness has pushed Nvidia’s valuation toward the lower end of its historical range, which bulls see as an attractive entry point given the growth outlook. [39]
For bullish analysts like Morgan Stanley, the key message is that supply, not demand, is the constraint, and that AI chip rivals are still far behind in performance, ecosystem depth and real‑world deployments. [40]
The bear case: AI bubble fears, competition and concentration risk
A growing minority of analysts and commentators are more cautious, pointing to several red flags.
- AI bubble and valuation risk
- Money.com warns that Nvidia’s $5 trillion market cap could pose a risk to diversified portfolios if AI optimism proves excessive. [41]
- A prominent Bloomberg piece highlights how the stock’s recent slide reflects doubts about Nvidia’s long‑term AI dominance, even as the multiple cools from extreme levels. [42]
- A widely shared Seeking Alpha note titled “Nvidia: Too Many Red Flags” points to bubble risk, elevated valuation and growing competition, suggesting meaningful downside is possible even with strong near‑term earnings. [43]
- Competition from AMD, custom chips and now AWS
Schwab’s analysis underlines a competitive landscape that is shifting quickly: [44]- AMD’s MI300/MI400 accelerators are winning deals with OpenAI, Microsoft and Meta.
- Intel, Qualcomm and other chipmakers are pushing new AI accelerators and NPUs.
- Hyperscalers are designing in‑house chips, such as Google’s Ironwood and AWS’s Trainium line, which is now rolling out Trainium3 servers and planning Trainium4 using Nvidia’s NVLink Fusion. [45]
- Customer concentration and capex cyclicality
Reuters reporting notes that about 61% of Nvidia’s revenue comes from just four major customers, mostly cloud giants. [46]
If these hyperscalers curb AI capex — or accelerate migration to in‑house chips — Nvidia’s growth could slow abruptly. Schwab cites research from CFRA projecting Nvidia’s sales growth slowing from about 60% in fiscal 2026 to ~39% in 2027, still strong but far below the triple‑digit increases seen in prior years. [47] - Insider and institutional positioning
- Schwab highlights that SoftBank sold its entire $5.83 billion Nvidia stake, with the CFO openly acknowledging uncertainty about a possible AI bubble. [48]
- Separate reports recount SoftBank founder Masayoshi Son later saying he was emotionally affected by the sale, which some investors interpret as FOMO rather than outright bearishness. [49]
- Macro and sentiment risk
Broader markets have turned more volatile as December begins, with major indices pulling back and crypto markets swinging sharply — a backdrop in which richly valued AI stocks can become “sell first, ask questions later” targets if sentiment sours. [50]
Bottom line: what to watch next for Nvidia stock
As of December 2, 2025, Nvidia sits at a fascinating crossroads:
- Fundamentals remain extraordinarily strong, with Q3 results and Q4 guidance confirming that AI demand is still accelerating, not slowing. [51]
- Wall Street remains mostly bullish, with consensus targets suggesting 30–40% upside over the next 12 months and multi‑year revenue forecasts that would justify much of today’s valuation if achieved. [52]
- Risks are also rising, from hyperscaler self‑sufficiency (AWS, Google, Microsoft) and AMD’s advances to the broader question of whether AI infrastructure spending can keep compounding at current rates without a pause. [53]
For investors, the next key signposts include:
- Nvidia’s Q4 FY26 earnings and updated guidance in early 2026.
- Evidence of any slowdown or diversification in hyperscaler AI capex.
- Competitive data points from AMD, AWS Trainium, Google’s Ironwood, Intel and Qualcomm. [54]
- Regulatory developments, especially around U.S.–China chip export rules that could affect Nvidia’s addressable market. [55]
This article is informational only and not personal investment advice. Nvidia remains a highly influential, high‑growth, and high‑expectation stock. Anyone considering NVDA today should weigh its exceptional AI leadership and growth trajectory against valuation, concentration, and competition risks — ideally in the context of their own risk tolerance and portfolio diversification.
References
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