New York, June 21, 2026, 11:01 AM EDT
- Nvidia finished Thursday at $210.69, up 2.95%. That was its last close before Nasdaq shut for the June 19 Juneteenth holiday.
- Nasdaq picked up 2.43% for the shortened week as chip stocks pushed U.S. equities up.
- Micron reports earnings on June 24, with Nvidia’s annual shareholder meeting also set for that day. Both are seen as the next near-term tests for the AI trade.
Nvidia shares started the week trading close to their recent highs. Last week’s shortened rally in chip names has investors now turning to Micron Technology’s upcoming results for a read on artificial-intelligence demand.
U.S. markets stayed closed on Friday for Juneteenth and will stay shut until Monday. Nvidia finished Thursday’s session at $210.69, up 2.95%. Shares are down from the 52-week high of $236.54 but Nvidia still holds a market cap over $5 trillion.
The focus isn’t only Nvidia’s price right now. The question is whether other AI hardware names will keep backing up the spending trend that sent the Nasdaq and chip stocks up. Reuters said the Nasdaq rose 1.91% on Thursday and is up 2.43% for the week. The Philadelphia Semiconductor Index climbed 6.4% Thursday.
Micron is set to report earnings Wednesday, June 24. The company’s memory chips are different from Nvidia’s GPUs, which are used in AI work, but demand for Micron’s high-bandwidth memory has become one sign of where data-center spending is going. Andy Pratt, director of investment strategy at Burney Company, told Reuters there is “still a lot of juice” in AI’s revenue surprise trend. Reuters
Peer moves gave some of the pace. Intel jumped 10.6% on Thursday, Broadcom added over 4%, and Micron climbed before its earnings. Nvidia kept up and stayed one of the main drivers for chip stocks.
Nvidia’s results are still driving the numbers. The chipmaker posted fiscal Q1 revenue of $81.6 billion, an 85% jump from the same period last year. Data-center sales climbed 92% to $75.2 billion. CEO Jensen Huang said “AI factories” are scaling up, and Nvidia guided for Q2 revenue of around $91 billion. NVIDIA Newsroom
Nvidia is going to raise $25 billion in its first U.S. corporate bond sale since 2021, the company said last week. That deal saw $85 billion in orders from investors, according to Reuters. Nvidia said the cash will go to general corporate purposes like paying down or refinancing debt.
Nvidia will hold its 2026 annual meeting online at 9 a.m. Pacific time Wednesday. The meeting isn’t expected to have the same impact as earnings, but investors are watching for updates on capital returns, supply, China, and AI infrastructure spending.
Risks are building as expectations tighten. Steve Kolano, chief investment officer at Integrated Partners, told Reuters semiconductors are “the only game in town.” That can turn fast. A softer Micron outlook, higher inflation, tougher Fed policy, export curbs, or supply chain problems could flip a popular trade into a valuation risk. Reuters
Nvidia faces a key test this week. The shares aren’t looking for a new product to drive gains. What matters now is proof that customers remain active, suppliers haven’t eased, and backers are still betting on AI budgets defying the doubt that trails such a big move higher.
