Nvidia stock nears record high as Europe AI push adds $10B in growth potential
Nvidia disclosed partnerships with leading European telecom operators including Orange, Telefónica, and Telenor
As of June 12, Nvidia stock is trading at $142.83, down 0.8% over the past 24 hours.
Nvidia (NASDAQ: NVDA) continues to demonstrate strength as it consolidates just below its record high of $149.43, which was reached on January 6, 2025.
Highlights
- Nvidia is trading at $142.83, just below its all-time high, supported by strong technical momentum and bullish indicators.
- The company’s European AI expansion, including a new industrial cloud in Germany and telecom partnerships, enhances long-term growth prospects.
- A breakout above $145 could lead to new highs, while $135 remains key short-term support.
From a technical standpoint, NVDA is currently supported by its 50-day moving average at $137.50 and remains well above the 200-day moving average, now at $125.30. The steep positive slope of both moving averages confirms a strong bullish trend. Importantly, the price has formed a higher low around the $132 level in May, and the recent recovery above $140 suggests renewed buying interest.
The Relative Strength Index (RSI) is hovering at 65, close to the overbought threshold but not yet extreme, which implies there is still room for upward movement before reaching exhaustion. Bollinger Bands are tightening, indicating a potential breakout move is imminent. Immediate resistance lies at the $145 level, where Nvidia stalled earlier this month. A decisive close above this mark could open the door to a retest of the $149.43 all-time high. Should this level break, psychological resistance at $150 may briefly cap gains before a move toward $155.
NVDA stock price dynamics (April 2025 - June 2025). Source: TradingView
On the downside, initial support is seen at $140, a former resistance area that may now provide a cushion. Below that, the $135 level coincides with the 21-day moving average and could attract dip buyers if sentiment weakens. A loss of this level, however, could trigger a deeper correction toward the $130–$132 consolidation range observed in late May.
European expansion and sovereign AI narrative fuel long-term optimism
Nvidia’s presence at the GTC Europe conference in Paris this week underlined its strategic ambition to lead Europe’s AI transformation. CEO Jensen Huang revealed a major initiative: the creation of an industrial AI cloud platform based in Germany, featuring 10,000 Nvidia GPUs. This platform aims to serve sectors such as engineering, simulation, and industrial design, highlighting Nvidia’s pivot from gaming and consumer hardware to high-value infrastructure solutions.
Additionally, Nvidia disclosed partnerships with leading European telecom operators including Orange, Telefónica, and Telenor. These collaborations aim to enhance AI-powered services and data processing efficiency at the network edge, a key growth area for the company as data workloads surge globally. By embedding its chips deeper into Europe’s digital architecture, Nvidia is positioning itself as a national infrastructure partner rather than a simple hardware vendor.
Huang also emphasized the concept of “sovereign AI,” arguing that countries need to control their AI data flows, models, and systems to align with national priorities. This strategic framing appeals to governments seeking autonomy over digital infrastructure, potentially opening up new public-private partnership opportunities. With Europe becoming more assertive about technological sovereignty, Nvidia’s alignment with these trends could accelerate both regulatory support and adoption.
Breakout likely, but risks remain below $135
Given Nvidia’s strong technical setup, recent strategic announcements, and favorable market sentiment toward AI leaders, the stock appears positioned for another leg higher. A breakout above $145, if sustained on strong volume, would likely lead to a retest of the $149.43 high, with potential extension to $152–$155 if AI optimism continues to attract capital inflows.
However, short-term risks remain. A failure to clear $145 could see Nvidia trade sideways, especially if macroeconomic headwinds or profit-taking pressures emerge. A break below $140 would increase the likelihood of a drop to the $135 support area, where buyers are expected to step in again.
Nvidia’s strong technical performance is backed by surging demand for AI infrastructure, especially from cloud and enterprise sectors. The company posted a 69% year-over-year revenue jump to $44.06 billion in Q1, driven by record data center sales.
