NEW YORK, July 3, 2026, 05:03 EDT
- U.S. equity markets shut Friday for the Independence Day holiday.
- Nvidia closed Thursday at $194.83, dropping 1.39% on the day. That’s still up 1.2% from where shares finished last Friday.
- Two named Nvidia cloud partners are targeting up to 210,000 GPUs. Firmus says its offtake deal values each planned accelerator between $147,000 and $176,000 over six years.
NVIDIA Corporation NASDAQ:NVDA heads into the extended U.S. holiday with shares that outperformed the chip sector overall but are still held back by Wall Street’s latest concern: how much future sales will come from customers relying on Nvidia-funded infrastructure. Nasdaq will be closed July 3 for Independence Day observed. Regular trading hours are 9:30 a.m. to 4 p.m. Eastern.
Nvidia ended Thursday at $194.83, off 1.39%, with 142.4 million shares traded. That’s 17.6% under its May 14 peak of $236.54. The after-hours quote was $194.43.
The clearer take is to look at week-on-week numbers. Nvidia climbed 1.2% since the June 26 close. Invesco QQQ Trust Series 1 NASDAQ:QQQ gained 0.9%. VanEck Semiconductor ETF NASDAQ:SMH dropped 3.2%. The table is based on Thursday closes, with June 26 as the starting point.
| Security | Thursday close | Thursday move | Change from June 26 close | What it says |
|---|---|---|---|---|
| NVIDIA Corporation NASDAQ:NVDA | $194.83 | -1.39% | +1.2% | NVIDIA kept its gains from last Friday even with chip names down |
| Invesco QQQ Trust Series 1 NASDAQ:QQQ | $712.60 | -1.73% | +0.9% | Large tech names dropped Thursday but are still up on the week |
| VanEck Semiconductor ETF NASDAQ:SMH | $592.29 | -4.54% | -3.2% | Semiconductors saw heavier selling continue |
Nasdaq Composite lost 0.8% Thursday and the Philadelphia Semiconductor Index tumbled 5.4%, Reuters reported, though the Dow still finished at an all-time high. Bruce Zaro at Granite Wealth Management said investors were probably “taking profits in chip stocks” after their strong run. Adam Sarhan, chief at 50 Park Investments, said softer jobs data “takes the pressure off the Fed” for now. Reuters
Nvidia is shifting its focus to contract density, saying this week it will let AI cloud firms get its infrastructure via a revenue-sharing and credit-support model. The company gets its typical product revenue, but also takes a cut of the cloud revenue from supported capacity. Colette Kress and Raj Mirpuri said new AI firms have faced “limited access to capital-intensive infrastructure.” Nvidia says the deal setup builds a “recurring, usage-linked earnings stream.” NVIDIA Blog
| Partner | Market status | Stated Nvidia-linked capacity | Revenue or funding data | Implied investor read |
|---|---|---|---|---|
| SharonAI Holdings Inc. NASDAQ:SHAZ | Public | Up to 40,000 Grace Blackwell GB300 GPUs | $1.6 billion private placement; AI factory total 132 MW, 102 MW already contracted | Backed growth, but stock risk for partner stands out |
| Firmus Technologies | Private | Up to 170,000 Nvidia AI accelerators; 360 MW Batam campus | $25 billion to $30 billion in offtake lined up for first six years | Works out to about $147,000-$176,000 per planned accelerator |
| Named early partners combined | Mixed | Up to 210,000 GPUs/accelerators | Nvidia cloud revenue share hasn’t been released | Big GPU count, but investors still watching revenue delivery |
Firmus said its deal with Nvidia runs to 2034. The partnership includes accelerators for Grace-Blackwell, Vera-Rubin and Vera platforms into 2027 and 2028. “AI-native companies need scalable, energy and cost-efficient compute infrastructure to compete globally,” said co-CEO Tim Rosenfield. Firmus
SharonAI plans to use the $1.6 billion it raised to fund its six-year compute partnership with Nvidia. Co-founder and CEO James Manning said demand for GPU compute is still “significantly outpacing supply.” Sharon AI
This makes a difference for Nvidia holders, since the model shifts focus from just chip shipment numbers to include factors like utilization, customer credit, and how much revenue comes from the cloud. The breakdown hasn’t been made public. Nvidia finished Thursday with a market cap near $4.75 trillion, pricing the stock at about 29.7 times earnings using current data.
Markets reopen Monday, July 6, after the holiday break for U.S. cash equities. First move is watching if $192.53, Friday’s close, holds up as support. The other focus is SharonAI’s NASDAQ:SHAZ trading, with the stock off 14.3% at $67.91 on Thursday. Nvidia’s decline was much less.
