Nvidia stock moves closer to all-time high

September 4, 2026 - 22:57

Nvidia kept climbing on Friday, bringing the stock within striking distance of the high it set back in May. The chipmaker has been on a steady upward run over the past several weeks, fueled by renewed optimism around artificial intelligence spending and strong demand for its data center products.

Shares rose more than two percent in afternoon trading, building on gains from earlier in the week. At the current price, Nvidia is roughly three percent away from its previous all-time closing high. Investors have shrugged off concerns about a possible slowdown in AI infrastructure investment, instead focusing on the company's dominant position in the market for advanced graphics processors.

The recent momentum also follows a series of positive analyst notes, with several firms raising their price targets after Nvidia's latest earnings report showed better-than-expected revenue from its Hopper and Blackwell chip lines. The company also signaled that orders from cloud providers and enterprise customers remain robust through the next quarter.

Some traders caution that the stock could face resistance near its old peak, especially if broader market sentiment shifts. But options activity suggests many investors are betting on a breakout rather than a pullback. Nvidia's volatility has cooled compared to earlier this year, which some see as a sign that the stock is building a more stable base for another leg higher.

The broader semiconductor sector has also firmed up this week, with peers like AMD and Broadcom posting modest gains. That tailwind, combined with Nvidia's own fundamentals, has put the spotlight back on the company as one of the key drivers of the tech rally. Whether it can finally clear the May high in the coming sessions remains the big question for traders watching the charts.