Nvidia is once again in the spotlight, and this time, it’s for a very big reason. As of the 23rd day of May, its stocks are trading at $132.83, showing a gain of 0.8% in the past 24 hours only. More importantly, Nvidia is creeping ever closer to a $3 trillion market cap, a landmark that places it among the icons of technology with firms such as Apple and Microsoft. What’s fueling this excitement? It’s all eyes on Nvidia’s upcoming earnings report expected next week. Let’s break everything down: what has happened so far, where things stand now, and what could come next.
Nvidia’s Stock Journey: From March to May 2025
Just a few years ago, Nvidia was mostly seen as a gaming chip company. However, that view changed quickly as the world saw the potential of AI (artificial intelligence). From 2023 to early 2025, Nvidia’s stock made one of the strongest runs in the market, driven by record demand for AI chips.
In March 2025, Nvidia stock was hovering around $115. Since then, it has shown strong momentum, climbing steadily to reach $132.83 by May 23. That’s a powerful rally in just two months, and many believe this is just the beginning.
What the Charts Are Saying
Looking at technical indicators, there are a few important points to note:
- The Relative Strength Index (RSI) is approaching 70. When RSI gets close to this level, it may suggest that a stock is becoming overbought. In simpler terms, it means prices have gone up quickly, and a pause or small drop might happen soon.
- The upward trend is still indicated as MACD (Moving Average Convergence Divergence) remains in the positive. Nonetheless, since the histogram is getting smaller, buying momentum could be waning a tiny bit.
These signs don’t mean Nvidia is in danger, but they hint that the stock might trade sideways or even dip slightly before the next big move.
Balancing AI Growth and Global Risks
What’s really driving Nvidia’s rise is not just hype; it’s the reality of exploding demand for AI chips, especially for use in data centres. Nvidia’s H100 and upcoming B100 chips are the gold standard for companies like Amazon, Microsoft, and Google.
Investors are watching closely as Nvidia is about to report its fiscal Q1 earnings on May 28. Analysts expect the company to report:
- Earnings: $0.88 per share
- Revenue: $43.26 billion
These numbers would be impressive, but they come with a twist. Recently, Nvidia announced a $5.5 billion revenue hit due to new U.S. export restrictions to China. These restrictions apply to Nvidia’s H20 AI chips, a key product in its overseas strategy. This geopolitical issue could impact future growth. Still, investors are mostly confident. Oppenheimer recently repeated its “Outperform” rating on Nvidia and gave it a price target of $175, which suggests a 33% jump from where the stock is now.
Another confidence booster is the news of a deal with a Saudi Arabian AI project, where the country is buying hundreds of thousands of Nvidia’s top-tier GPUs. That’s a huge vote of confidence in Nvidia’s technology.
Nvidia’s Current Key Metrics
| Metric | Value |
| Current Price (as of May 23) | $132.83 |
| Daily Change | +0.8% |
| Market Cap | Nearing $3 trillion |
| Expected Q1 Earnings | $0.88 per share |
| Expected Revenue | $43.26 billion |
| Export Hit | $5.5 billion |
| RSI | Approaching 70 |
| Oppenheimer Price Target | $175 |
| Potential Upside from Current | 33% |
| Recent Strategic Deal | Saudi AI Initiative |
| Key Products | H100, B100, H20 chips |
Looking Ahead: Nvidia’s Next Moves
Right now, the stock is mostly staying in a range between $115 and $135. That could change quickly if Nvidia delivers strong earnings. If Nvidia beats estimates and offers good guidance (especially about its business with China), the stock could shoot up toward the $150–$153 zone. That would break it out of its current trading pattern and possibly bring in more big investors. But there’s a flip side too.
If earnings disappoint or if the company reveals more serious issues related to the China restrictions, the stock could drop back toward the $115 support level. If it falls below that, the next major support is around $96. This is more likely if the overall market also turns negative or cautious.
Exploring Nvidia’s Power: Growth, Challenges, and Global Impact
Nvidia is not just riding a wave it’s building the wave. The company is now essential to the AI revolution, making the chips that power everything from chatbots to self-driving cars. It has deals in place with cloud giants like Amazon, Google and Microsoft, and it continues to grow its reach internationally. The recent partnership with Saudi AI startup Humain is just one example of how Nvidia is thinking globally. Nvidia also dominates in high-performance computing, a key area for research, defence, and healthcare.
On the Brink of a $3 Trillion Milestone: What’s Next for Nvidia?
Nvidia’s story is not just about charts or earnings; it’s about being at the centre of one of the biggest technology shifts in history. AI is the future, and Nvidia is building the tools that will make that future happen. Yes, there are risks. The China export ban is real. The stock could see short-term corrections. But the long-term path remains strong, and if the May 28 earnings report delivers, Nvidia could finally break through to the next level.
With a market cap close to $3 trillion, an Outperform rating from major analysts, and rising global demand, Nvidia is positioned not just to grow but to lead.
Tech Writer