Nvidia Shares Rise 22% as Cursor Eyes $2B Round, SK Hynix Boosts Supply
Semiconductor index rallied 30% in 13 days, lifting Nvidia shares 22% and pushing the SOX 16% above its 50-day average—a move historically followed by a short-term pullback. Nvidia-backed Cursor targets $2B funding at over $50B valuation, while SK Hynix begins mass production of 192GB modules for Nvidia's Vera Rubin platform.
1. Semiconductor Index Rally
The Philadelphia Semiconductor Sector Index surged 30% over the past 13 trading days, driving Nvidia shares up 22% and pushing the index 16% above its 50-day moving average, a historical signal that has preceded short-term pullbacks for the sector.
2. Nvidia-backed Cursor Funding Talks
Nvidia-backed AI startup Cursor is in talks to raise $2 billion at a valuation exceeding $50 billion, marking a more than 70% increase over its $29.3 billion post-money valuation in November 2025 and underscoring rapid investor enthusiasm for AI development platforms.
3. SK Hynix Memory Module Production
SK Hynix has initiated mass production of 192GB memory modules specifically for Nvidia’s upcoming Vera Rubin AI servers, addressing growing memory demands for large-scale model training and reinforcing Nvidia’s supply chain ahead of a late 2026 platform launch.