NVIDIA Corp. (NASDAQ:NVDA) stock rose more than 1% on Monday as investors returned to artificial intelligence stocks in a risk-on session. The Nasdaq gained 0.74%, while the S&P 500 advanced 0.26%. Technology was among the market’s strongest sectors.

The move also comes as Advanced Micro Devices Inc. unveiled Helios, its first rack-scale AI system, which is set to ship later this year to customers including Microsoft Corp., Meta Platforms Inc., OpenAI and Oracle Corp., according to CNBC.

Helios is positioned as a direct competitor to NVIDIA’s Grace Blackwell and Vera Rubin AI systems, offering cloud providers another option for large-scale AI infrastructure.

Futurum Group estimates NVIDIA controls more than 95% of the data center GPU market, while AMD holds about 4.5%. The research firm said Helios could help AMD gain share over time, with CEO Daniel Newman telling CNBC AMD could eventually capture 20% to 25% of the market.

NVIDIA Technical Analysis

NVIDIA remains in a longer-term uptrend. The stock trades about 7% above its 200-day simple moving average of $192.49 and 3.6% above its 100-day moving average of $198.80.

The short-term picture is less clear. Shares remain 2.1% above the 20-day moving average of $201.89 but sit 1.8% below the 50-day moving average of $209.88, which could act as near-term resistance.

The relative strength index stands at 51.07, indicating neutral momentum. The reading suggests the stock is neither overbought nor oversold.

Traders are watching resistance near $214 and support around $199.50, close to the 20-day moving average.

Earnings And Analyst Outlook

NVIDIA is expected to report quarterly results on Aug. 26.

Wall Street expects earnings of $2.07 per share, up from $1.04 a year earlier. Revenue is projected to reach $91.70 billion, compared with $46.74 billion in the prior-year period.

The stock trades at about 31.1 times earnings and carries a consensus Buy rating. The average analyst price forecast stands at $324.67. Recent analyst actions include:

• KeyBanc raised its price forecast to $330 on July 14 while maintaining an Overweight rating.
• China Renaissance initiated coverage with a Buy rating and a $319 price forecast on June 5.
• Needham maintained its Buy rating and $270 price forecast on June 2.

NVIDIA Benzinga Edge Rankings

Benzinga Edge assigns NVIDIA a Momentum score of 59.13, reflecting neutral price momentum.

The stock scores 98.02 for Quality and 98.62 for Growth, highlighting strong business fundamentals and earnings potential. However, its Value score of 7.05 suggests the shares remain expensive relative to traditional valuation measures.

ETF Exposure

NVIDIA is a top holding in several exchange-traded funds, including the Global X NASDAQ 100 Covered Call ETF (NASDAQ:QYLD), the Sapient Quality Select ETF (NASDAQ:SQS) and the REX AI Equity Premium Income ETF (NASDAQ:AIPI).

Because of NVIDIA’s large weighting, fund inflows and outflows can influence demand for the stock.

NVIDIA Price Action

NVDA Stock Price Activity: NVIDIA shares were up 1.19% at $205.23 at the time of publication on Monday, according to Benzinga Pro data.

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