NEW YORK, March 24, 2026, 08:13 EDT
Nvidia barely budged in early premarket action Tuesday, ticking up 0.13% to $175.87 after finishing Monday at $175.64, which was a 1.7% advance. MarketWatch
This is exactly what investors have been watching. Nvidia stands out as the go-to barometer for AI-driven spending, but the stock lags—still down about 17% from its 52-week peak of $212.19—as the market tries to size up whether surging demand is strong enough to overcome China exposure and ongoing supply hiccups. MarketWatch
There wasn’t much relief after Monday’s bounce. Nvidia moved 182.84 million shares, tacking on 1.70%. Broadcom surged 4.08%. The S&P 500 climbed 1.15%, Nasdaq up 1.38%. Investing.com
Asia headlines delivered a mixed bag for the stock. Broadcom’s Natarajan Ramachandran told reporters that TSMC is “hitting” its capacity ceiling, describing the crunch as having “kind of choked” the 2026 supply chain. TSMC, for its part, has pointed to Nvidia as one of the customers putting pressure on its advanced lines. Reuters
Nvidia’s ambitions now reach well past the chip market. On Monday, the company announced it’s teaming up with AES, Constellation, Invenergy, NextEra, Nscale, and Vistra to build out massive AI data centers—dubbed “AI factories”—designed for quicker hookups to the grid. “AI factories are the engines of the intelligence era,” Chief Executive Jensen Huang said. NVIDIA Investor Relations
Utilities are echoing that line. Constellation CEO Joe Dominguez argues data centers can actually help handle increased demand through demand response. “We don’t have a supply problem — we have a peak problem,” he said. NVIDIA Investor Relations
China is a different story. On Monday, a U.S. congressional advisory panel flagged that the country’s open-source AI — software where the underlying code is freely available for others to modify — is giving Beijing a “self-reinforcing competitive advantage,” even as Washington’s chip restrictions remain in place. The report pointed out that the U.S. has barred China from acquiring top-tier AI chips since 2022. Still, Nvidia’s second-best chip got the green light for export in December. Reuters
The warning comes as Nvidia works to get its China operations back on track. Last week, Huang said the company has resumed production of its H200 chip variant for Chinese customers after new orders came in. Even so, revenue from those chips isn’t factored into his estimate of over $1 trillion in potential sales through 2027 tied to Blackwell and Rubin systems. Reuters
Demand for Nvidia’s supply chain components isn’t showing any cracks yet. On Tuesday, Reuters said SK Hynix—one of the main suppliers of high-bandwidth memory, known as HBM, which sits close to AI chips to speed up data movement—has committed $7.97 billion to purchase ASML equipment over the next few years, aiming to ramp up advanced chip production through 2027. Reuters
The financial setup is still tough. According to Reuters, Nvidia reported fiscal 2026 revenue at $215.9 billion with net income totaling $120.1 billion. The company said it handed back $41.1 billion to shareholders over the past year, and there’s $58.5 billion left on its buyback authorization. Reuters
Still, the market hasn’t been willing to fully price in the best-case outcome for the stock. Fresh export curbs or supply snags—spilling from foundry capacity into lasers and printed circuit boards, as Broadcom flagged—could put Nvidia back in familiar territory: plenty of orders, but slower deliveries. It’s a key reason the shares, despite Tuesday’s bounce, are stuck well below last year’s highs. Reuters
