New York, Feb 7, 2026, 18:50 (EST) — Market’s done for the day.
- Nvidia finished Friday with a 7.9% gain, closing at $185.41 and sparking a new chip rally heading into the weekend.
- Traders flagged fresh attention on how major cloud firms are planning to spend on AI data centers.
- U.S. jobs and inflation data are on deck next week, with Nvidia reporting results on Feb. 25.
Friday saw NVIDIA Corp shares jump almost 8%, settling at $185.41. Investors moved into the chipmaker ahead of a busy week for economic releases and renewed focus on AI-related outlays. U.S. markets remain shut on Saturday.
This matters because the “AI trade” is getting rewritten as we speak. Some software names took a hit during the tech shakeout, while chipmakers? They’ve basically become the go-to for betting on data center growth — for now, anyway. 1
Chipmakers surged Friday, lifted by bets that Amazon and Alphabet will ramp up AI data-center spending. “There’s real demand for AI products,” said Ross Mayfield, investment strategy analyst at Baird, adding that meeting it “necessitates a lot of spending.” 2
Amazon is eyeing roughly $200 billion in capex for 2026, a sizable jump from $131 billion in 2025, according to Reuters. CEO Andy Jassy put it to investors this way: with AWS now tracking at a $142 billion annualized run rate, the growth picture isn’t what it was back when the business was smaller. 3
Yet nerves remain on Wall Street over the bill. Andrew Wells, chief investment officer at SanJac Alpha, called the AI build-out trade “got too pricey,” flagging what he described as a “de-risking” move—even as Nvidia CEO Jensen Huang told CNBC that demand is “sky-high.” 4
Nvidia supplier Wistron isn’t seeing a bubble, at least according to chairman Simon Lin. He told reporters orders are solid and stretch through 2027. The company’s CEO, per Reuters, also pointed to plans for volume production at its new U.S. sites kicking off in the first half of 2026. 5
Semiconductors led the way in the wider market. The VanEck Semiconductor ETF climbed 5.4% Friday. For the indexes, QQQ was up 2.2%, with SPY not far behind, gaining 1.9%. Advanced Micro Devices surged 8.2%. Broadcom tacked on 7.1%.
Traders get their first test at Monday’s open. The question: will buyers keep pressing bets on chips, or does profit-taking snap back as soon as the weekend’s done?
Nvidia is looking to the end of the month for its next big move. The tech giant said it’ll release both fourth-quarter and full-year numbers on Feb. 25, aiming to have results out by about 1:20 p.m. PT. After that, written CFO commentary is on deck. Then, at 2 p.m. PT (5 p.m. ET), execs will jump on a conference call. 6
The market’s focus lands on that report for more than just a capex headline — it’s after guidance, margins, signs of any change in customer orders. Capex signals intent; revenue and profit confirm what’s actually happening.
The downside risk remains. Following Amazon’s spending announcement, MoffettNathanson flagged that the number came in “materially greater than consensus expected,” cautioning that the “margin of error is shrinking.” Investors have started reviving dot-com-era parallels and are questioning the high hopes. 7
Nvidia’s earnings aren’t out yet, but there’s plenty on tap first. The U.S. Employment Situation report for January lands Feb. 11. Then comes January’s Consumer Price Index on Feb. 13—one to watch, since that inflation read can shake up rate bets and, with them, growth-stock values. 8
