On Thursday, NVIDIA Corp.
The roughly $300 million collaboration includes about $50 million in annual compute contributions over five years, funding for at least 10 KAIST researchers each year, NVIDIA internships and full-time hiring opportunities.
The lab will use NVIDIA Nemotron open models and local NVIDIA Cloud Partner infrastructure to support AI research and accelerate the deployment of Korean-language AI models across enterprise and national applications.
Stock Performance And Technical Analysis
NVIDIA stock fell on Friday as weakness in megacap technology stocks weighed on sentiment. The stock was down 0.62% at $207.47 at last check. The Nasdaq fell 0.85%, while the S&P 500 slipped 0.01%.
Investors remained cautious as the stock traded between key technical levels after reaching a swing low in June and a swing high in May.
NVIDIA remains in a long-term uptrend, trading above its 200-day simple moving average of $192.90 and its 100-day SMA of $199.71. However, the shares remain below the 50-day SMA of $209.17, suggesting near-term momentum is still mixed.
The relative strength index stands at 49.71, indicating neutral momentum. The reading suggests the stock is neither overbought nor oversold.
The 20-day SMA remains below the 50-day SMA, a bearish short-term signal. At the same time, the 50-day SMA remains above the 200-day SMA, supporting the longer-term bullish trend. This combination points to consolidation within a broader uptrend.
Key resistance is near $214.00, while initial support sits around $199.50 near the 100-day SMA.
Earnings And Analyst Outlook
NVIDIA is expected to report quarterly results on Aug. 26.
Wall Street expects earnings of $2.07 per share on revenue of $91.70 billion, compared with earnings of $1.04 per share and revenue of $46.74 billion a year earlier. The stock trades at about 32 times earnings.
The analyst consensus rating is Buy, with an average price forecast of $324.67. Recent analyst actions include KeyBanc raising its price forecast to $330 on July 14, China Renaissance initiating coverage with a Buy rating and a $319 price forecast on June 5, and Needham maintaining its Buy rating with a $270 price forecast on June 2.
Benzinga Edge Rankings
Benzinga Edge rates NVIDIA highly for Growth (98.59), Quality (97.97) and Momentum (71.52). However, the stock scores just 6.84 for Value, reflecting its premium valuation.
ETF Exposure
NVIDIA is among the largest holdings in the Global X NASDAQ 100 Covered Call ETF
Price Action
NVDA Stock Price Activity: NVIDIA shares were down 0.62% at $207.47 at the time of publication on Friday, according to Benzinga Pro data.
