Nvidia stock on a 10-day winning streak, up 18% over that stretch

Nvidia The stock is on the decline, having risen more than 18% in the last ten days. This is the AI ​​chip giant’s longest winning streak since another ten-day rally in 2023.

Shares rose about 3% on Tuesday but are trading about 8% lower than October’s all-time high of $212.19, which adjusts for a 10-for-1 stock split that occurs in 2024.

The winning streak also comes with support from Nvidia denied the rumors Stating that it was in talks to buy a major computer company on Monday, CNBC said in a statement that it was “not in talks to buy any computer manufacturer.” both Dell And HP Inc. It rose on demand on Monday, then lost some of those gains early Tuesday.

On Tuesday, Nvidia also announced a new family of open source models. isingIt aims to accelerate the adoption of quantum computing.

The steady rise in the chip giant’s shares comes amid explosive AI demand, as the giants love it. Meta, Amazon, Google And Microsoft Grab Nvidia’s silicon.

At last month’s annual GTC conference, CEO Jensen Huang said Nvidia had more than $1 trillion in orders through 2027 for graphics processing units, including its current Blackwell and next-generation Vera Rubin GPUs.

Nvidia’s data center revenue is up 75% from last year and now accounts for 88% of its business. This is a sharp decline from five years ago, when gaming was the company’s largest source of revenue.

Nvidia can’t produce AI chips fast enough anymore. At GTC in March, Nvidia unveiled new types of chips to power artificial intelligence, including a language processing unit made with technology it acquired in its $20 billion acquisition of chip startup Groq in December.

“We don’t have enough compute, and that actually underscores Nvidia’s core theme of compute equals making money,” said chip analyst Ben Bajarin of Creative Strategies.

Nvidia also introduced a standalone rack of its latest Vera central processing units at GTC as agency AI changes computing needs and demand for CPUs revives.

Meta is the first major customer for Nvidia’s discrete CPUs. In a sweeping deal announced in February, Meta has committed to deploying millions of Nvidia chips into dozens of data centers around the world.

Last week, Meta added $21 billion to a previously $14 billion deal. CoreWeave To increase computing capacity. In addition to leveraging its own data centers, Meta will increase computing capacity by leveraging Nvidia’s Vera Rubin rack-scale systems in CoreWeave’s data centers.

In the past week, other tech leaders, including Amazon Web Services CEO Matt Garman and Alphabet CEO Sundar Pichai, have also expressed a desire for more AI computing amid growing opportunities for monetization.

Bajarin said Nvidia’s gains are a possible backlash.

“If we have this power scarcity, infrastructure scarcity, and need to deploy AI to make money, everything they do looks very attractive,” Bajarin said. “These are the positive signposts that people are looking for that justify the durability of the cycle.”

Watch: CNBC’s biggest takeaways from Nvidia’s GTC 2026