- summary:
- NVIDIA’s share price momentum was strengthened by the Stargate project and provides a strong request book.
The NVIDIA share price decreased in Thursday’s session before the market, which disrupted the winning chain for three days. The company is seen as a central figure in Stargate, a project to develop a huge infrastructure that combines Openai, Oracle and SoftBank. The shares were traded at $ 144 at the time of writing this report.
Stargate adds ice to Nvidia Mussy Momitum
The Stargate project is a $ 500 billion in artificial intelligence infrastructure project offered by the administration of US President Donald Trump. It is directed towards developing multiple data centers that will benefit from artificial intelligence to transform the main aspects of daily life ranging from health care to security. The project aims to Marshall $ 500 billion in the next four years and create tens of thousands of jobs.
The price of the NVIDIA shares rose after the Stargate advertisement, thanks to its location as a pioneer in the market in the high -performance AI chips. The project is good news for NVIDIA, which is already fighting to meet the strong demand for its products. The company currently has a strong request book with its customer list, including technology giants such as Microsoft, Meta, Alphabet and Amazon.
The NVIDIA share price increased by 8 % on an annual basis and gained 10 % in the last five sessions. This indicates a strong upward momentum that would support more gains by NVDA.
NVIDIA share price prediction
The momentum is preferred on the price of NVIDIA buyers to extend their control if the procedure remains above $ 143.50. The immediate resistance is likely to come at $ 145.30, however, a stronger momentum will penetrate this level and may test the second barrier at $ 146.80
On the other hand, the momentum will turn to the negative side if the price decreases to less than $ 143.50. If this happens, NVDA is likely to move to the first support at $ 142.10, however, a stronger momentum will lead to the collapse of this level and lead to nullifying the bullish narration. Also, it can extend the negative side and test the second support at $ 140.90.
