NVIDIA’s (NASDAQ: NVDA) stock price is melting up and can extend the move to lofty levels. While little has been confirmed, easing trade tensions with China, reduced semiconductor restrictions on Arab nations, and improving economic conditions point to an improved outlook for sales and market sentiment. Up 50% from the April low to the mid-May highs, this undervalued stock could add another 25% to its share price by summer and continue trending higher as the year progresses.
The latest news is that NVIDIA will provide Saudi Arabia’s Humain with hundreds of thousands of its most advanced semiconductors. The deal is slated to run over five years and lead to nearly two gigawatts of data center capacity by 2030. The first will link 18,000 Grace Blackwell GPUs in a supercomputer for Saudi Arabia's people and businesses. Humain was launched in preparation for the announcement and is owned by Saudi Arabia’s Public Investment Fund (PIF).
