Nvidia (NVDA) Stock Forecast 2026: AI Capex Boom, Hyperscaler Spending & Strategic Partnerships Drive NVDA Price Surge

Quick overview

Nvidia (NVDA) shares are still in the thick of their powerful rally. As of May 12, 2026, they were going for $219.44, up by 1.97% on big volume. Still the clear leader in AI GPUs, NVDA is best positioned to profit from the global AI infrastructure buildout, particularly as hyperscalers are ramping their GPU and data center spending.

AI Capex Explosion Fuels Nvidia Demand

AI capex surges, lifting Nvidia’s prospects. With AI capex set to reach a record $650 billion to $725 billion in 2026, Microsoft, Google, Meta and Amazon expect to spend big on AI data centers, power and related equipment, with NVDA at the center of the AI boom thanks to its ubiquitous role in AI model training and inference.

Major Nvidia Partnerships & $40B AI Investments Accelerate Growth

On the partnership front, NVDA recently signed a ground-breaking deal with IREN (Iris Energy) to create up to 5 gigawatts of AI computing capacity. Nvidia is pouring over $40 billion into AI investments in 2026. Some highlights:

• $30 billion committed to OpenAI
• $3.2 billion into cabling solutions partner Corning for AI applications
• $2.1 billion into IREN for AI data center projects
• Stakeholders in networking, software and power infrastructure investments

Through these Nvidia partnerships and investment decisions, NVDA is expanding the entire AI stack, which in turn, will drive ongoing growth in demand for its products in the long term.

Nvidia Financial Performance & Q1 FY2027 Results

Nvidia’s recent fiscal 2026 results were impressive. It posted $216 billion in annual revenue. Last quarter (ended April 2025) saw NVDA rattle through Q1 FY2027 revenue of $44.1 billion, up 69% year-over-year, supported by its Data Center revenue.

NVDA Technical Analysis: Bullish Breakout Above Key Fibonacci Level

Technically, NVDA’s daily chart looks strong. The stock closed at $219.44, firmly breaking the 0.0 Fib extension of $216.67. NVDA’s price respects the uptrend from the April low of approximately $164 and holds support in the 0.618 to 0.786 Fib zone of $184 to $196.

Momentum is also supportive of a continued bullish outlook, with the RSI higher at above 68 and positive divergence. Price objectives stand at $228.65 to $246.71. The nearest major resistance sits at $228.65 and $238.10, with immediate support zones at $216.67 to $204.28.

Trade Idea: NVDA to the long above $220 to $228.65 to $238 with stops below $216.

Nvidia Earnings Catalyst on May 20, 2026

Investors have a key NVDA catalyst awaiting on May 20, 2026, as Q2 earnings are due. Consensus expects an upside beat thanks to a continued robust Data Center performance amidst record levels of AI demand.

Bottom Line: Overall, Nvidia stock remains highly bullish for 2026. Massive AI capex spending, hyperscaler spending on AI infrastructure and ongoing growth in the number of partnerships solidify its status as the market share leader. Although NVDA has been a monster stock with gains that would have been unimaginable a few years ago, the AI buildout is still in early innings, making it a great stock to go long in this sector.

ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.