TLDR
- NVDA closed at $230.36 on Friday, up as much as 2% during the session, just below its record high of $235.74
- Nvidia acquired AI model hub Hugging Face for nearly $13 billion
- Anthropic, which received up to $10 billion from Nvidia last year, is reportedly preparing to file for an IPO
- Nvidia invested $3.5 billion in Taiwanese chip designer MediaTek earlier in the week
- Analysts maintain a consensus “Moderate Buy” rating with an average price target of $324.83
Nvidia (NVDA) closed at $230.36 on Friday, up 0.84% on the day after rising as much as 2% intraday. That puts it just below its all-time high of $235.74, set on May 14.
The stock has been moving higher on the back of continued momentum in AI-related semiconductor names, and fresh news flow is adding fuel.
The biggest headline this week was Nvidia’s acquisition of Hugging Face, the open-weight AI model hub, for nearly $13 billion. The platform is used by more than 18 million developers and 200,000 companies to share and adopt AI models.
Nvidia says Hugging Face will remain open to the broader AI ecosystem following the deal.
Futurum CEO Daniel Newman framed the rationale plainly: “Nvidia wants to be in front of this, access to more developers, access to more enterprises.”
Also moving the needle: reports that Anthropic is preparing to file for an IPO. Nvidia committed up to $10 billion to Anthropic last year, so a public listing would put a market value on that bet.
A Busy Week of Deals
Nvidia’s spending didn’t stop at Hugging Face. On Monday, the company announced a $3.5 billion investment in MediaTek, the Taiwanese chip designer, which will adopt Nvidia’s NVFusion platform.
That move is seen as a way for Nvidia to stay relevant as hyperscalers build more custom silicon, keeping it inside the revenue cycle.
The company is also expanding into consumer AI hardware. Lenovo and Acer are expected to launch Windows PCs powered by Nvidia’s RTX Spark chip in October, with HP also announcing new OmniBook PCs using the same technology.
Analysts and Institutions Still Buying In
Wall Street remains broadly positive. JPMorgan raised its price target from $280 to $320 with an “overweight” rating. Evercore has a $465 target. The consensus average sits at $324.83, with 50 analysts at “Buy” and just three at “Hold.”
Institutional buying has continued too. Baker Tilly Wealth Management grew its NVDA position by 7.4% in Q2. Brighton Jones lifted its stake by 12.4% in Q4. Across the board, 65.27% of Nvidia stock is held by institutional investors.
On the earnings front, Nvidia reported Q2 EPS of $2.22, beating the $2.09 consensus. Revenue came in at $96.22 billion, ahead of the $92.27 billion estimate. That was a 105.9% jump year-over-year.
The company also has an $80 billion share buyback program approved by its board.
One thing worth watching: insiders have been selling. Director Mark Stevens sold around 885,000 NVDA shares in June, and EVP Timothy Teter sold 30,000 in August. Both sales were executed under pre-arranged Rule 10b5-1 plans.
Nvidia’s 12-month low stands at $164.07. Its 12-month high is $236.54.
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