NVIDIA Shares Extend Gains, Poised for Longest Winning Streak in Two Years

Deep News03:10

NVIDIA's stock rose approximately 3% in Friday's late trading session, positioning the chipmaker to achieve its longest consecutive gain streak in over two years. This advance would mark the eighth straight day of increases for NVIDIA, a run not seen since November 2023. Broader equity markets also climbed, with the S&P 500 index edging higher after March inflation data came in slightly below economists' forecasts.

Despite the positive momentum, NVIDIA's recent performance appears relatively modest. As of Thursday's close, the stock had gained about 11% over the seven-session period. In contrast, rival Intel surged roughly 50% over the same timeframe.

NVIDIA remains a central player in the artificial intelligence investment theme, although its shares have been trading within a range of $165 to $195 for several months. Investors continue to assess how long major cloud service providers can sustain high levels of capital expenditure. The current winning streak has not yet been sufficient to push NVIDIA's share price beyond this established trading band.

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