TLDR
- Nvidia stock slipped 0.7% in premarket trading Monday, sitting at $213.64, just below its record close of $216.61 from April 27.
- NVDA is up 15% year-to-date, but that trails peers Intel (INTC) and AMD, which are rallying on CPU demand for AI inference.
- Independent analyst Richard Windsor says market focus has shifted from chip supply to electricity supply and CPUs as the new bottleneck.
- Institutional investor Warm Springs Advisors cut its Nvidia position by 4.8%, though NVDA still makes up 13.9% of its portfolio.
- The next major catalyst for the stock is Nvidia’s earnings report on May 20.
Nvidia’s stock has been on a strong run in 2025, but something interesting is happening. The chip giant that defined the AI trade is starting to get outrun by some of its semiconductor peers.
NVDA dropped 0.7% to $213.64 in premarket trading Monday. The stock closed Friday at $215.20, just a hair under its record close of $216.61 set on April 27.
Year-to-date, Nvidia is up 15%. That sounds solid — until you look at what Intel and AMD have been doing. Both have been climbing sharply, driven by excitement around how their central processing units are being used for AI inference workloads.
Independent analyst Richard Windsor, who writes the Radio Free Mobile blog, put it plainly: “The gold-plated investment in AI is now stagnating, while the second in line are making new highs almost every day.”
He added that market attention has moved away from chip supply as the main AI bottleneck, shifting instead toward electricity supply and CPUs.
Institutional Activity and Analyst Ratings
Warm Springs Advisors cut its Nvidia position by 4.8% during the fourth quarter, selling 4,872 units. Even after the trim, the fund still held 96,419 units worth roughly $17.98 million — and Nvidia remains its single largest holding at 13.9% of the portfolio.
At a broader level, 65.27% of Nvidia stock is held by institutional investors and hedge funds. On the analyst side, the stock carries a consensus “Buy” rating, with 48 analysts assigning a Buy and 4 giving it a Strong Buy. The average price target sits at $275.25. Cantor Fitzgerald has a $300 target, while Royal Bank of Canada is at $250.
What to Watch Next
Nvidia’s last earnings report, released February 25, beat expectations on both the top and bottom lines. The company posted EPS of $1.62 against a consensus of $1.54, and revenue of $68.13 billion against estimates of $65.56 billion. Revenue was up 73.2% year-over-year.
Goldman Sachs reportedly reiterated a Buy rating ahead of the upcoming print and raised its EPS forecast. The next earnings report is set for May 20 and will be the key event traders are watching.
The company’s market cap sits at $5.23 trillion. Its 12-month low is $115.21, while the recent 12-month high hit $217.80. The 50-day moving average is $187.59.
Nvidia recently announced partnerships with Corning and IREN, with analysts pointing to these moves as part of a broader push to deepen its control over AI infrastructure.
On the insider front, director John Dabiri sold 3,004 units in March at $184.90, and EVP Ajay K. Puri sold 300,000 units at $182.25. Combined insider sales over the past three months totaled over 906,000 units valued at roughly $162.8 million.
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