SpaceX selects Vera Rubin chips exclusively: Can Nvidia stock break out above $234.45?

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Nvidia climbs 1.48% to $222.49 today

Highlights

Nvidia was chosen by SpaceX as the sole supplier of Vera Rubin chips for its AI infrastructure, reinforcing its leadership in advanced hardware solutions.
Nvidia authorized an $80 billion stock buyback and raised its quarterly dividend to $0.25 per share, underlining a strong capital return strategy for shareholders.
Nvidia stock shows a sustained bullish trend with buyers dominant, expected to trade between $210.53 and $234.45 in the coming sessions.

Bullish sentiment intensifies as AI deals and buyback drive outlook

Nvidia's selection by SpaceX as the exclusive supplier of Vera Rubin chips for its AI infrastructure, according to Moneycheck, highlights surging hardware demand and solidifies Nvidia’s reputation as a critical technology provider in advanced commercial applications. This news coincides with Volta Infra’s $10 billion contract with Anthropic, which leverages Nvidia hardware, further validating the sustained enterprise-scale need for Nvidia’s solutions and supporting future growth prospects. Simultaneously, Nvidia has authorized an $80 billion stock buyback and increased its quarterly dividend from $0.01 to $0.25 per share, reflecting a strong capital return commitment that enhances shareholder value. These factors have fueled positive sentiment toward the stock, aligning with today’s market direction.

Mixed signals for buyers as momentum remains but oscillators diverge

On the technical front, NVDA is trading above the MA-20 and MA-50 on the H1 chart alongside the long-term MA-200, with the Ichimoku Kijun at $214.77 acting as immediate support. MACD indicates strong upward momentum, while ADX also points to sustained buying interest. RSI remains in buy territory, but Stochastic RSI is in oversold conditions, and CCI is neutral. Bull/Bear Power signals buyer dominance in the session, although the mixed signals from oscillators and momentum indicators suggest some short-term divergence as buyers maintain control but caution is indicated by short-term oscillators.

Consolidation expected as upside potential outweighs immediate risks

In the near term, NVDA is expected to consolidate within a $210.53–$234.45 range, reflecting typical volatility for the current environment. The most probable scenario is further consolidation within this band, with upward movement viewed as highly likely and downside risk appearing limited for now. A break above the upper resistance could lead to a rapid move toward the high end of the range, while a drop below immediate support near the Ichimoku Kijun may trigger a pullback toward the lower boundary.

Anton Kharitonov, expert at Traders Union, sees Nvidia’s fundamentals as robust, with exclusive deals and capital returns boosting sentiment. However, he notes technical signals are mixed, with some oscillators showing short-term caution despite price strength above key moving averages. Kharitonov believes the stock will likely consolidate within the $210.53–$234.45 range, with breakouts or breakdowns driven by volume near key levels. "For now, I remain defensive — unless Nvidia pushes above $234.45 with conviction, the risk of a reversal still outweighs chasing upside here."

Earlier, analysts noted that Nvidia’s strong fundamentals and earnings outlook positioned the stock for continued investor focus, particularly in the context of its expanding AI market presence. The latest developments around Nvidia's deepening commercial partnerships and robust technical setup reinforce the prevailing upward momentum, making consolidation within the $210.53–$234.45 range the key scenario to monitor in the near term.

Source of Data: NVDA Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.