Nvidia Hits $236 High as Q1 Revenue Jumps 85% to $81B
Nvidia stock hit $236 to reach a $5.7 trillion market cap after a 3.7% one-day surge and 25% YTD gains as China readies H200 processor approvals. Quarterly revenue jumped 85% to $81 billion with net income up 211%, fueled by Blackwell platform demand and previews of the Vera Rubin AI system.
1. Stock Soars to Record High
Nvidia shares climbed above $236 last session, reflecting a 3.7% one-day surge and pushing the company's market capitalization toward $5.7 trillion. Year-to-date gains have surpassed 25%, significantly outperforming the broader semiconductor index.
2. Record Q1 Earnings
In its latest quarter, Nvidia reported an 85% increase in revenue to $81 billion and a 211% rise in net income. Strong uptake of the Blackwell AI platform and previews of the upcoming Vera Rubin system drove margins and investor optimism.
3. China Demand Reignited
Several leading Chinese tech firms, including Alibaba, Tencent, ByteDance and JD.com, are poised to order Nvidia's H200 processors pending regulatory approval. Nvidia's CEO Jensen Huang engaged in talks in China, suggesting progress toward easing export restrictions.
4. Technical Support Levels
Key moving averages provide support near $210 for the 20-day, $193 for the 50-day and $186 for the 200-day. The Ichimoku Kijun level at $210.63 also serves as a critical short-term support level for gauging any pullbacks.