Nvidia posted its biggest weekly gain in more than a year after Big Tech firms disclosed a combined $650 billion in planned AI infrastructure spending for 2026. Wells Fargo followed with a higher price target, and attention now shifts to Nvidia's next earnings report.
Nvidia shares gained roughly 7.7% to 8.2% in February 2026, adding more than $300 billion in market value within days. The move followed a wave of capital-expenditure announcements from major technology companies, each effectively endorsing Nvidia's hardware as core infrastructure for the AI economy.
Big Tech's spending commitments drive the rally
Amazon anchored the wave with plans for approximately $200 billion in capital investment. Across major technology firms, the broader tally reached roughly $650 billion in planned AI-related spending for 2026.
Microsoft added further confirmation in July 2026, reporting quarterly capital expenditure of $41 billion that exceeded analyst expectations. Nvidia shares gained nearly 3% on that news alone.
Analysts raise their price targets
Wells Fargo raised its Nvidia price target from $265 to $315 in August 2026, maintaining an Overweight rating. Nvidia had already reached a $4 trillion market capitalization milestone in July 2025.
Yet year-to-date performance through early August 2026 has stayed in the low single digits, a sign the market has absorbed much of the positive news already and is now waiting for fresh data.
What the next earnings report could change
The clearest near-term catalyst is Nvidia's Q2 FY2027 earnings report, expected around August 26. Investors will watch data center revenue growth and gross margins.
Data center has been Nvidia's dominant revenue segment, and its trajectory shows how quickly hyperscalers are converting their capex announcements into actual hardware purchases. Margins matter because they reveal whether Nvidia can hold pricing power as it scales production of its latest GPU generations.
Source: Crypto Briefing
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