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Checking in at midday, NVIDIA shares are now up 3.5% as of 1:15 p.m. ET.
It’s worth noting that this jump is far higher than Broadcom (Nasdaq: AVGO), which is down .3% today. Advanced Micro Devices (Nasdaq: AMD) is outperforming NVIDIA today, but the announcement of a $6 billion share buyback could be fueling outsized gains.
The bottom line is that recent announcement of large purchase orders from Saudi Arabia benefit NVIDIA more than rivals like Broadcom that design custom chips that are more popular with hyperscaler customers like Meta Platforms and Google.
Shares of Nvidia are up another $2.73 to $132.60 since the market opened.
Helping, the company just announced a deal with Saudi Arabian company, Humain, to work on the development of artificial intelligence models and data center infrastructure.
Analysts at Bank of America just raised their price target on NVDA to $160 a share with a buy rating. All thanks to a cooling trade war, the latest deal with the Saudis, and earnings.
In addition, analysts at Wedbush just said, “We believe the market opportunity in Saudi Arabia could over time add another $1 trillion to the broader global AI market in the coming years and this dynamic is not being priced into the market and tech names in our view”.
NVIDIA will add to its already stellar week, up 15% over the past 5 trading days with what looks to be another 3% starting Wednesday trading.
Nine Dow 30 stocks are up 9%+ over the last week.
Disney $DIS is up the most with a 20.8% gain, followed by NVIDIA $NVDA and Amazon $AMZN with gains of 14%. pic.twitter.com/Os4pLW67Y8
— Bespoke (@bespokeinvest) May 14, 2025
Live coverage has ended. The full story is below.
Continuing its 5.6% rally from yesterday, Nvidia (NASDAQ: NVDA | NVDA Price Prediction) is set to open up about 3% higher at $133.73.
That’s because of two key catalysts. One, the trade war is finally cooling with China. That should remove a good deal of uncertainty from tech stocks, like Nvidia.
Two, as we noted yesterday, the company announced it would send 18,000 of its top AI chips to Saudi Arabia. “Nvidia said its first deployment will use its GB300 Blackwell chips, which are among Nvidia’s most advanced AI chips at the moment, and which were only officially announced earlier this year,” as noted by CNBC.
Analysts at Bank of America just raised their price target on NVDA to $160 a share with a buy rating. All thanks to a cooling trade war, the latest deal with the Saudis, and earnings.
In its most recent quarter, NVDA’s EPS of 89 cents beat by four cents. Revenue of $39.33 billion, up 78% year over year, beat by $1.17 billion.
“We’ve successfully ramped up the massive-scale production of Blackwell AI supercomputers, achieving billions of dollars in sales in its first quarter. AI is advancing at light speed as agentic AI and physical AI set the stage for the next wave of AI to revolutionize the largest industries,” said founder and CEO Jensen Huang, as quoted in a company press release.
Moving forward, the company expects to see first-quarter revenue of $43 billion, as compared to estimates for $42.05 billion.
Additionally, analysts at Wedbush say, “We believe the market opportunity in Saudi Arabia could over time add another $1 trillion to the broader global AI market in the coming years and this dynamic is not being priced into the market and tech names in our view”.
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Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.
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