NEW YORK, August 4, 2026, 04:15 EDT
- Shares closed Monday at $206.64, gaining 2.9%.
- The estimated $143 billion value gain equaled 1.6 times quarterly sales guidance.
- Advanced Micro Devices NASDAQ:AMD reports Tuesday. Nvidia reports August 26.
NVIDIA Corporation NASDAQ:NVDA added an estimated $143 billion in market value Monday. The stock closed at $206.64, up 2.9%. The regular U.S. session was closed at the 04:15 EDT reporting time.
The one-day gain equaled about 1.6 times Nvidia’s quarterly revenue guide. Every 1% stock move now shifts roughly $50 billion in equity value. The next test is sales conversion, not spending direction.
Monday’s relative performance
| Asset | Closing price or index | Session change |
|---|---|---|
| NVIDIA Corporation NASDAQ:NVDA | $206.64 | +2.93% |
| Advanced Micro Devices NASDAQ:AMD | $484.64 | +1.78% |
| Broadcom NASDAQ:AVGO | $392.23 | +0.76% |
| Taiwan Semiconductor Manufacturing NYSE:TSM | $406.11 | +0.46% |
| iShares Semiconductor ETF NASDAQ:SOXX | $507.68 | +0.55% |
| Nasdaq Composite | 25,913.90 | +2.13% |
Nvidia beat the chip ETF by 2.4 percentage points. The move came as investors digested stronger cloud-demand signals. Nationwide strategist Mark Hackett said investors “did not get that from Amazon and Microsoft,” referring to feared spending cuts. Reuters
Amazon.com NASDAQ:AMZN raised its annual investment forecast by 10% to $220 billion. Microsoft NASDAQ:MSFT expects $175 billion of reported 2026 capital spending. Both companies also reported faster cloud growth.
Still, Monday mostly repaired earlier damage. Nvidia fell 2.9% during the week through July 31. The Nasdaq gained 1.6% over the same period. Monday recovered about 97% of Nvidia’s weekly dollar loss.
Previous-week scorecard
| Asset | Week ended July 31 | Difference versus Nvidia |
|---|---|---|
| NVIDIA Corporation | −2.9% | — |
| Nasdaq Composite | +1.6% | +4.5 percentage points |
| S&P 500 | +1.0% | +3.9 percentage points |
The demand pool remains huge. Amazon, Microsoft, Alphabet NASDAQ:GOOGL and Meta Platforms NASDAQ:META now indicate combined 2026 capital expenditure of $720 billion to $745 billion. That is roughly twice Nvidia’s annualized second-quarter sales guide.
Major AI buyers’ latest spending signals
| Company | Reported 2026 capex outlook | Latest operating signal |
|---|---|---|
| Amazon.com NASDAQ:AMZN | $220 billion | AWS revenue rose 37%; trailing free cash flow was negative $7.6 billion. |
| Microsoft NASDAQ:MSFT | $175 billion | Azure revenue rose 43%; quarterly free cash flow fell 23%. |
| Alphabet NASDAQ:GOOGL | $195 billion–$205 billion | Cloud revenue rose 82%; quarterly free cash flow was negative $5.9 billion. |
| Meta Platforms NASDAQ:META | $130 billion–$145 billion | Revenue rose 28%; quarterly free cash flow fell 91%. |
Not all capex reaches Nvidia. Data centers also require memory, networking, buildings and power. Microsoft and Alphabet are developing their own chips, adding another leakage point.
Nvidia’s internal hurdle is demanding. Its $91 billion midpoint implies 11.5% sequential revenue growth. It also represents roughly 95% growth from the year-earlier quarter.
First-quarter revenue reached $81.6 billion. Data-center sales supplied $75.2 billion, or 92% of that total. Market capitalization now equals about 13.7 times the annualized second-quarter sales guide.
Chief Executive Jensen Huang told analysts in May: “We should be growing faster than hyperscale capex.” Nvidia’s August 26 report will test that benchmark. Reuters
AMD reports after Tuesday’s close, with its call scheduled for 5 p.m. EDT. Its accelerator outlook offers the nearest public read-through for Nvidia. Friday’s U.S. employment report adds a separate interest-rate test.
Nvidia remains 12.6% below its May 14 record close of $236.54. Monday restored the $200 level. It did not restore the former peak.
Risks: Cash-flow pressure at large buyers could eventually slow orders. Memory shortages can lift system costs. Custom chips and AMD accelerators may capture more workloads.
Monday delivered the spending reassurance investors wanted. Nvidia’s scale raises the evidence bar. August 26 must show that capex still converts into Nvidia revenue.
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