Nvidia and AMD shares rally as AI chip earnings loom

Nvidia’s stock closed Friday up 2.98% at €174.36, trading just above its 100‑day moving average and 4.8% above the 200‑day line. The company’s market capitalisation of roughly €4.1 trillion underscores its role as a core AI‑infrastructure provider. Analysts note that the next catalyst will be AMD’s quarterly results, scheduled for 4 August 2026, which are expected to confirm continued demand for data‑center accelerators.

AMD’s shares jumped 13% after the launch of its MI450 server chips, and options markets predict the earnings report could trigger a weekly price swing of about 10%, with potential moves between $430 and $527. Wall Street has raised target prices for AMD, with estimates ranging from $580 to $730. The broader technology sector is experiencing strong demand and record revenues, yet investors are increasingly wary of high valuations and the financing of AI‑related growth.

Overall, the semiconductor market is showing both robust growth prospects and heightened valuation scrutiny as AI chip demand intensifies.