Nvidia stock (NASDAQ: NVDA) soared 5% in pre-market trading on Thursday, riding the wave of yesterday’s blockbuster earnings beat.
The chipmaker reported $57 billion in Q3 revenue, crushing analyst estimates of $55.2 billion, and issued guidance that sent Wall Street into overdrive.
With the stock currently trading near $186-$187 levels, all eyes are fixed on whether today’s momentum can propel Nvidia back toward its all-time high of $212.19, set on October 29, 2025, when the company briefly became the first $5 trillion company in history.
The math is simple: a move to that level would represent roughly 14% upside from today’s pre-market levels, entirely achievable if the bull momentum sustains.
The urgency is palpable. Yesterday’s earnings weren’t just a beat; they were a statement of dominance.
CEO Jensen Huang revealed that $500 billion in Blackwell and Rubin GPU orders are already locked in through 2026, a figure that crushes Street expectations and essentially guarantees multi-year revenue visibility that no other tech company can match.
The company’s data center business hit $51.2 billion, obliterating the $49.3 billion consensus estimate, while guidance for Q4 came in at $65 billion (vs. Street’s $62 billion expectation).
These aren’t marginal beats; they’re blowout numbers that validate Nvidia’s monopolistic grip on AI infrastructure spending.
Nvidia stock: Why today’s rally could stick
What makes today uniquely powerful is the triple catalyst storm hitting simultaneously.
First, yesterday’s earnings erased the “AI bubble” narrative that had battered tech stocks for the past week.
The FTSE 100 broke its longest losing streak since March, European stocks surged 1%, and Asian indices are soaring, with Taiwan’s TSMC up 4.3%, Samsung up 5.3%, and the entire semiconductor ecosystem rallying on validated demand signals.
Second, options positioning shows bullish skew, with call premiums elevated relative to puts, suggesting institutional money is positioning for higher prices.
Third, and most critically, Trump’s Genesis Mission AI executive order launches Monday, positioning Nvidia as the linchpin of US AI dominance and signaling massive government spending ahead.
The market is pricing in the geopolitical and policy tailwind. The technical picture supports a breakout attempt.
Nvidia has hovered in the $180-$185 range since early November, but with yesterday’s earnings catalyst and today’s 5% pre-market pop, the stock has already cleared the psychological $186 level.
The 50-day moving average sits around $185, meaning momentum traders now see clear air above this resistance.
To reach the all-time high at $212, Nvidia would only need another 13.5% move, well within the realm of possibility for a stock that routinely sees 20-30% moves on major catalysts.
What Wall Street says
Here’s what really matters: Analysts are now hiking price targets faster than the stock is rising.
Stifel raised its target from $212 to $250 per share yesterday, implying 34% upside from today’s levels, citing the $500 billion order backlog as potentially understated.
Wells Fargo and KeyBanc issued similarly bullish notes, emphasizing that capex across cloud giants (Microsoft, Amazon, Google, Meta) remains in overdrive.
When you combine yesterday’s earnings validation, today’s momentum, the upcoming Genesis Mission policy boost, and analyst targets in the $220-$250 range, a new all-time high isn’t just plausible, it’s probable.
The real question isn’t whether Nvidia hits $212 today. The question is how high it goes and how fast it gets there.
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