Buying NVIDIA stock with $235 in sight

NVIDIA shares are currently trading within a flat range of $190–$235. Over the past week, they have been supported by new large-scale contracts and the company’s expanding role in artificial intelligence (AI) infrastructure projects. To be more specific, the firm has recently secured more orders for its Blackwell system, alongside SpaceX’s decision to use NVIDIA equipment for computational tasks. What does this tell us? Chip demand remains robust, with interest coming not only from tech giants but also from companies building their own AI infrastructure.

The key fundamental driver is still the same—capital expenditures by industry leaders on new data centers. For now, the growing chatter around a potential AI bubble has not hindered the sector, as real demand for computing power remains elevated and continues to rise. At the same time, investors have already started to price in the prospects of future product generations. For NVIDIA to keep climbing, it must not only sustain a high revenue growth rate but also consistently exceed forecasts.

In the foreseeable future, market participants will shift their focus to NVIDIA’s financial report, scheduled for August 26. If earnings once again come in above expectations and the company delivers a strong outlook, the stock could receive a fundamental boost to support the rally. On the technical side, the next target could be an all-time high of $235.

The ultimate recommendation is to buy NVIDIA stock at the current price of $217, aiming to reach $235 within a couple of weeks. To mitigate the risk of adverse market movements, place a Stop Loss order at $200.