Nvidia stock hits record $157 as AI demand accelerates chip rally
Nvidia’s recent strategic partnerships have also bolstered investor confidence
As of July 3, Nvidia stock is trading at $157.25, up 2.6% in the past 24 hours.
This latest surge confirms a strong breakout above the critical resistance level of $154.31, signaling renewed bullish momentum.
Highlights
- Nvidia surged 2.6% to a record $157.25, breaking key resistance and confirming strong technical momentum.
- AI-driven demand and new partnerships with CoreWeave and HPE continue to reinforce its leadership in the sector.
- Short-term projections point to a potential move toward $205 by late July, with $150 as a key support level.
Technically, the breakout follows a well-defined ascending wedge pattern that Nvidia had been forming since late April, and the upside resolution suggests strong accumulation and investor conviction. The stock is now up nearly 80% since its April lows and over 15% year-to-date.
On the daily chart, the 50-day moving average has sharply turned higher and is approaching a golden cross formation with the 200-day moving average—a classic signal that the bullish trend may have longer to run. Momentum indicators like the RSI are nearing overbought territory at around 73, but this has not deterred buying pressure, indicating the presence of a strong uptrend rather than a short-term speculative bounce.
Nvidia stock price dynamics (May 2025 - July 2025). Source: TradingView
Volume during the breakout session was significantly higher than average, confirming the validity of the move and attracting institutional interest. Key technical support now lies at the $150 level, which could act as a new floor. If the price corrects, this would be the first area to watch for a bounce. A deeper pullback could find support around $130, where previous consolidation and the 50-day average converge. Resistance beyond the current high is thin, with price discovery likely to continue toward the $170-$180 range unless momentum fades.
AI leadership and strategic expansion fuel investor optimism
The latest rally comes amid a wave of positive news and developments surrounding Nvidia’s AI leadership. Despite a recent insider sale by CEO Jensen Huang, which in other circumstances might dampen sentiment, investors remain highly confident in Nvidia's long-term prospects. The company continues to dominate the AI chip market, with its H100 and H200 chips in strong demand across cloud and enterprise sectors.
Nvidia’s recent strategic partnerships have also bolstered investor confidence. Collaborations with CoreWeave and Hewlett Packard Enterprise are aimed at building AI factories and expanding enterprise AI capabilities. Particularly notable is the rollout of Nvidia’s Nemotron language model designed specifically for European languages—a sign that the company is pushing to localize and scale its AI tools globally. These efforts position Nvidia not just as a chipmaker, but as a key enabler of the AI industrial ecosystem.
Adding to the broader bullish case is favorable macroeconomic news. A recent federal tax credit aimed at accelerating AI infrastructure deployment has provided a boost to the entire semiconductor sector, with Nvidia leading the charge. The Nasdaq has also responded positively, further fueling Nvidia’s upward momentum. While some volatility could be expected following the recent rally, the overall sentiment remains constructive.
Short-term outlook: Nvidia targeting $205 by late July
Given the strong breakout above resistance, increased institutional volume, and ongoing AI-driven tailwinds, Nvidia appears poised to continue its ascent in the short term. Bars pattern projection, supported by momentum indicators and volume analysis, suggests Nvidia could reach the $205 level by the end of July if the current trajectory holds.
Traders should monitor any potential pullbacks toward $150 for reentry opportunities. As long as the stock holds above this new support, the technical picture remains bullish. A drop below $130 would be a cause for concern, but this scenario appears unlikely barring a major shift in market conditions.
Nvidia is well-positioned as the global AI data center market heads toward a projected $2 trillion valuation by 2028. Its expanding supply chain and strategic partnerships with European AI firms and cloud providers like CoreWeave are diversifying revenue beyond major hyperscalers.
