NEW YORK, August 8, 2026, 10:06 EDT
- The stock ended trading on Friday at $223.96, up 11.6% over the week.
- Space Exploration Technologies Corp. NASDAQ:SPCX has selected Nvidia as its sole provider for future AI systems.
- NVIDIA is set to report fiscal second-quarter earnings on Aug. 26. Analysts surveyed by FactSet expect earnings per share of $2.08.
Nvidia closed Friday at $223.96, marking a 2.27% daily increase. The stock achieved its strongest weekly performance since May 2025. U.S. markets did not open on Saturday.
The 11.6% surge boosted market value by a record $562 billion. That figure amounts to 6.2 times Nvidia’s $91 billion quarterly revenue forecast. This indicates investors factored in long-term resilience, not just immediate sales.
SpaceX delivered the most definitive example of the week. CEO Elon Musk stated that the company had “decided to build exclusively on Nvidia.” He also described Vera Rubin as the best AI architecture. MarketWatch
The backing diminished the strength of the competing claim. Advanced Micro Devices Inc. NASDAQ:AMD posted data-center revenue of $6.72 billion, more than twice the previous year’s figure. Despite this, shares declined 6.6% on Wednesday as investors were looking for a larger AI-driven gain. Bernstein analyst Stacy Rasgon noted that buyers maintained a “fairly bullish outlook.” Reuters
The five-day results highlight a premium unique to the company, outpacing the general technology sector rally.
| Asset or index | Weekly return | Nvidia’s advantage |
|---|---|---|
| Nvidia | 11.60% | — |
| PHLX Semiconductor Index | 9.25% | Lead of 2.35 percentage points |
| Nasdaq Composite | 5.19% | Margin of 6.41 percentage points |
| S&P 500 | 3.58% | Outperformance of 8.02 percentage points |
Nvidia outperformed the Nasdaq by 6.4 percentage points and surpassed the chip index by 2.35 points. That outperformance served as the primary signal to investors for the week.
At the end of trade on Friday, Nvidia’s market capitalization stood near $5.42 trillion. Shares were priced at 34.3 times trailing earnings. Over the week, Nvidia’s market value rose by an amount close to 70% of AMD’s total market capitalization.
Nvidia’s upcoming test is scheduled for Aug. 26. The company has provided a forecast for fiscal second-quarter revenue at $91 billion, with a margin of plus or minus 2%. FactSet shows an EPS consensus of $2.08.
| Fiscal second-quarter measure | FY2027 benchmark | FY2026 actual | Year-on-year change |
|---|---|---|---|
| Revenue | $91.0 billion guidance midpoint | $46.74 billion | Up 94.7% |
| Non-GAAP EPS | $2.08 consensus | $1.05 | An increase of 98.1% |
| Non-GAAP gross margin | 75.0% guidance | 72.7% | Rises 2.3 points |
A performance close to the outlook would nearly double both revenue and earnings, offering limited scope for a typical outperformance. Attention from investors will shift to guidance for the third quarter and Rubin supply.
Nvidia’s outlook excludes any data-center compute sales from China, leaving out a revenue stream influenced by policy. Export regulations continue to influence possible gains as well as inventory exposure.
FactSet data shows Wall Street continues to hold a strong bullish stance.
| Recommendation | Current | One month ago | Three months ago |
|---|---|---|---|
| Buy | 54 | 55 | 57 |
| Overweight | 7 | 7 | 8 |
| Hold | 2 | 3 | 4 |
| Sell | 1 | 1 | 1 |
| Consensus | Buy | Buy | Buy |
Out of 64 published analyst calls, 61 are rated Buy or Overweight. Analysts set an average price target of $314.29, representing a premium of roughly 40% to Friday’s closing level. The lowest target, at $180, suggests close to 20% downside.
July consumer inflation data is due Wednesday, Aug. 12, with producer prices to be released the following day. Applied Materials Inc. NASDAQ:AMAT will announce earnings after the closing bell on Thursday, providing additional insight into chip demand.
Nvidia’s upcoming financial event is its earnings call on Aug. 26, set for 5 p.m. EDT. In the meantime, shares may be influenced by macroeconomic data and indications of customer spending.
Risks: Nvidia’s high valuation offers limited tolerance for any slowdown in AI investment. Sales or margins could be hit by export limits, supply shortages, or delays with Rubin. AMD’s recent drop highlights how robust performance can quickly lead to disappointment.
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