NVIDIA Corporation (NASDAQ: NVDA) ended the holiday-shortened Christmas Eve session essentially flat-to-lower and then dipped slightly in after-hours trading, as Wall Street’s “Santa Claus rally” window officially began amid thin volumes and record-setting moves in the broader market.
NVDA last traded at $188.61 at the close, with after-hours trading around $188.52 (about -0.05%) shortly after the bell. The stock’s day range was $186.59 to $188.72, with a 52-week range of $86.63 to $212.19 and market cap around $4.58 trillion, per market data at the close. [1]
One key calendar note before we go further: U.S. markets are closed Thursday, Dec. 25, for Christmas Day, and Dec. 24 was an early close at 1:00 p.m. ET. The next regular U.S. session is Friday, Dec. 26. [2]
Below is what mattered for NVDA after the bell on Dec. 24, 2025, and what investors will likely be watching before markets reopen.
NVDA after-hours snapshot: what happened after the bell on Dec. 24
Because today was an early close, the post-bell tape should be read with extra caution:
- Close (early close): $188.61
- After-hours: $188.52 (roughly -$0.09 vs. close)
- Day range: $186.59–$188.72
- Previous close: $189.21 [3]
In holiday sessions like Christmas Eve, liquidity is often thin, and even large-cap names can see outsized “micro-moves” in after-hours trading that don’t necessarily signal a strong next-day trend. Reuters explicitly flagged thin volumes in today’s shortened session and noted the market would be shut Thursday for Christmas. [4]
The market backdrop: “Santa rally” starts as big indexes hit records
Even with reduced holiday participation, the broader tape stayed constructive:
- The S&P 500 and Dow notched record closes, and the Nasdaq finished modestly higher, according to Reuters. [5]
- Reuters also tied part of the market’s rebound to a bounce in AI-related names after a recent selloff that had been driven by valuation and capex concerns. [6]
- Rate expectations remain central: Reuters reported the market is still pricing roughly 50 bps of Fed cuts next year, while expectations for a January cut are low (per CME FedWatch, as cited by Reuters). [7]
For NVIDIA, that matters because the stock has become one of the market’s most important “risk-on” bellwethers. When rates, AI sentiment, and megacap flows line up, NVDA often moves with (or leads) the Nasdaq.
Today’s NVDA headline that investors are parsing: Intel 18A test reportedly halted
The most NVDA-specific news thread circulating today wasn’t a new NVIDIA product or earnings update—it was a manufacturing/supply-chain storyline that hit Intel, but inevitably pulled NVIDIA into the conversation.
A Reuters report said NVIDIA tested Intel’s 18A manufacturing process but stopped moving forward, citing people familiar with the matter. [8]
Why this matters for NVIDIA investors:
- Foundry optionality vs. status quo: If NVIDIA continues to rely predominantly on established foundry partners (rather than shifting meaningful production to Intel), it reinforces the idea that leading-edge capacity and execution certainty remain the top priorities.
- Competitive signaling (indirect): The story lands in the middle of an intense narrative war around who can manufacture the most advanced chips at scale—an issue that affects NVIDIA’s long-term margins, supply, and product cadence even if NVIDIA isn’t changing strategy tomorrow.
- The Intel partnership angle: Reuters’ broader Intel feature described a partnership that included a $5 billion investment from NVIDIA (in the context of Intel’s turnaround efforts and political/industrial-policy backdrop), while emphasizing that NVIDIA made no commitment to manufacture with Intel when that investment was announced. [9]
The takeaway: this is not an “NVDA revenue tomorrow” story. It’s a strategic manufacturing-read-through that can shape how investors handicap NVIDIA’s supply chain resilience and competitive positioning going into 2026.
Analyst forecasts and upgrades published today: the “targets” are rising again
While price targets should never be treated as promises, today’s analyst notes show a familiar pattern: when NVDA stabilizes, bullish targets quickly reassert themselves.
Evercore ISI: price target lifted to $352
TipRanks reported that Evercore ISI analyst Mark Lipacis raised his NVDA price target to $352 from $261 and reiterated an outperform/buy-equivalent view, citing improving supply expectations and platform momentum. [10]
Cantor Fitzgerald: “ripe for outperformance,” $300 target
In a separate TipRanks write-up, Cantor Fitzgerald said NVDA is “ripe for outperformance,” kept an overweight stance, and maintained a $300 price target. TipRanks also summarized a Strong Buy consensus among the analysts it tracks, with an average price target of about $263.58 (implying ~40% upside from the levels referenced in that note). [11]
Zacks (via Nasdaq): growth forecasts and “breakout” framing
A Zacks feature syndicated on Nasdaq highlighted NVIDIA as “Bull of the Day,” arguing that GPU demand remains durable and pointing to aggressive growth forecasts (Zacks cited projections for strong sales and earnings growth over the next couple of years) while also describing the stock as breaking out of a bearish wedge-type pattern. [12]
The bottom line on forecasts: across multiple research outlets today, the messaging converged on “NVDA consolidation may be ending” and “2026 catalysts could re-accelerate the AI trade.” The disagreement is mostly about timing and how much upside is already priced in.
Technical and trading setup: what the charts imply heading into the next open
You asked for “what we should know before the market opens.” For NVDA, that usually boils down to levels and catalysts.
Support and “next resistance”
MarketWatch cited Fundstrat’s Mark Newton suggesting NVDA was breaking out of a downtrend and that the stock needed to hold above roughly $185; the same commentary floated a possible move back toward $220 in coming months if momentum builds. [13]
From a pure “market structure” standpoint, Google Finance shows the 52-week high around $212.19, which aligns closely with what many traders would treat as a major overhead level. [14]
The CES 2026 catalyst window is already on the calendar
Investor’s Business Daily (IBD) highlighted NVIDIA as “Stock of the Day” ahead of CES, noting CEO Jensen Huang is scheduled for a media briefing on Jan. 5 and CES appearances on Jan. 6, which could shape sentiment around NVIDIA’s 2026 roadmap. [15]
That’s important because NVDA has a history of turning major public roadmap moments into momentum triggers—or, if expectations are too high, into “sell the news” reactions.
What to know before the market “opens tomorrow” (and the key correction to the calendar)
Because today is Wednesday, Dec. 24, 2025, “tomorrow” is Thursday, Dec. 25—and U.S. markets are closed for Christmas Day. Nasdaq’s official schedule lists Dec. 24 as a 1:00 p.m. ET early close and Dec. 25 as closed. [16]
So the actionable “pre-open” window for NVDA is really before Friday, Dec. 26.
Here are the key items to watch between now and that next session:
1) Headline risk is higher than usual in a thin, holiday tape
With much of Wall Street on reduced staffing, liquidity can be patchy. That tends to amplify reactions to:
- policy headlines
- unexpected corporate statements
- geopolitical developments tied to semiconductors and AI
Reuters emphasized thin trading volumes today and the holiday closure. [17]
2) U.S.–China chip policy remains the swing factor investors can’t ignore
Even when the day-to-day stock move is small, NVDA’s medium-term narrative is still heavily influenced by export policy and China demand.
This week’s Reuters reporting said NVIDIA aims to begin H200 shipments to China by mid-February 2026, contingent on approvals and policy details. [18]
Separately (also reported recently by Reuters), U.S. policy debate has included:
- the administration’s stance on which advanced chips can be sold to China
- review mechanisms that could affect licensing and enforcement [19]
If you see a “quiet” after-hours quote tonight, don’t overread it—policy headlines can reprice the stock quickly when the next session reopens.
3) Watch the “AI capex vs. AI profits” debate—because it drives multiples
Reuters explicitly called out the market’s sensitivity to concerns that high AI capital expenditures could dent profits (even as AI remains a dominant theme). [20]
Investopedia echoed the broader framing: Wall Street expects a solid 2026 but sees growing risks, with tech/AI valuations a recurring concern as spending ramps. [21]
For NVDA, this debate matters because:
- bulls see NVIDIA as the key “picks-and-shovels” supplier
- skeptics ask whether customers (hyperscalers and enterprise) can monetize AI fast enough to justify the spend
4) The manufacturing narrative can shift sentiment fast—even when it’s “about Intel”
Today’s Reuters reporting about NVIDIA’s Intel 18A testing decision sits in a broader market narrative about:
- who controls leading-edge manufacturing,
- who has capacity,
- and how quickly supply can scale for next-gen platforms. [22]
That doesn’t mean NVDA stock moves 5% on this alone—but it can influence how investors price execution risk and supply confidence for 2026 ramps.
5) Don’t forget the dividend calendar
NVIDIA’s investor materials noted its next quarterly dividend is scheduled to be paid on Dec. 26, 2025 to shareholders of record on Dec. 4, 2025. [23]
This is usually not a major trading driver for a stock like NVDA, but it’s a concrete “Friday date” item that some holders track.
Bottom line for NVDA after hours on Dec. 24
NVIDIA stock finished around $188.61 in the early-close session and traded fractionally lower after hours, a relatively quiet finish that fits the day’s holiday-thinned conditions. [24]
But “quiet” does not mean “unchanged narrative.”
Going into the next session on Friday, Dec. 26, NVDA investors will likely focus on:
- whether the broader Santa rally momentum continues,
- how the market digests today’s Intel 18A testing headline involving NVIDIA,
- whether bullish analyst targets ($300–$352 in some notes) keep pulling sentiment upward,
- and how export-policy headlines shape expectations for 2026 demand. [25]
This article is for informational purposes and reflects publicly reported news and analyst commentary, not personalized investment advice.
References
1. www.google.com, 2. www.nasdaq.com, 3. www.google.com, 4. www.reuters.com, 5. www.reuters.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.reuters.com, 9. www.reuters.com, 10. www.tipranks.com, 11. www.tipranks.com, 12. www.nasdaq.com, 13. www.marketwatch.com, 14. www.google.com, 15. www.investors.com, 16. www.nasdaq.com, 17. www.reuters.com, 18. www.reuters.com, 19. www.reuters.com, 20. www.reuters.com, 21. www.investopedia.com, 22. www.reuters.com, 23. investor.nvidia.com, 24. www.google.com, 25. www.reuters.com
