NEW YORK, January 2, 2026, 16:06 ET — After-hours
- Nvidia shares rose about 1% in late U.S. trading as chip stocks led the market on the first session of 2026.
- A broad semiconductor rally and shifting rate expectations kept the focus on AI-linked “capex” spending.
- Next catalysts include CEO Jensen Huang’s CES appearance and Nvidia’s Feb. 25 earnings report.
NVIDIA Corp shares rose $2.00, or about 1.1%, to $188.50 in late trade on Friday, extending a semiconductor-led lift in the first trading session of 2026.
The move mattered because chipmakers helped offset broader market churn, with the Philadelphia SE Semiconductor index up about 3.5% in afternoon trading. 1
For investors, Nvidia’s direction is a quick read on whether the “AI infrastructure” trade is regaining traction after a choppy year-end. That trade centers on spending for servers, networking and power gear that run artificial intelligence workloads. 2
Peers also advanced. AMD was up about 4.5%, Intel gained roughly 7.0%, and Taiwan Semiconductor’s U.S.-listed shares rose about 5.3%, while Broadcom was little changed.
The backdrop was less friendly. U.S. Treasury yields climbed and the dollar firmed, which can weigh on high-valuation growth stocks by increasing the effective “discount rate” investors apply to future profits. 3
That’s why Wall Street is watching capital expenditures, or “capex,” the spending companies commit to build and equip data centers. “If companies start to pull back on the capex … you’re probably looking at more of a flat year,” said Jeff Buchbinder at LPL Financial. 2
Savita Subramanian, Bank of America’s equity and quant strategist, flagged elevated near-term index risks in a note on Friday, arguing valuations remain stretched on most measures. 1
A Reuters analysis on Thursday underscored why Nvidia remains at the center of that debate: earnings for S&P 500 companies are projected to rise more than 15% in 2026, with the “Magnificent Seven” megacaps expected to grow faster than the rest of the index. Nvidia is part of that group, along with companies such as Apple and Amazon. 2
Near-term, traders are also watching CES 2026 in Las Vegas, where Nvidia is slated to appear during the Jan. 5–9 show. Investors often treat CEO Jensen Huang’s CES remarks as a signal on the company’s product roadmap and customer demand. 4
The next hard catalyst on the calendar is earnings. Nvidia is scheduled to report fourth-quarter fiscal 2026 financial results on Feb. 25, according to the company’s investor relations events calendar. 5
Macro data could still move the tape first. Next week’s U.S. labor market releases are a key focus for rate expectations after recent Fed communications emphasized the need for more clarity on jobs. 1
With Treasury yields edging up and valuations in focus, Nvidia is likely to keep trading as a barometer for AI infrastructure demand — and for how much risk investors are willing to take in mega-cap tech to start 2026.
