By Ari Levy
Publication Date: 2026-02-24 13:00:00
Jensen Huang, president and CEO of Nvidia, attends the 56th annual World Economic Forum meeting in Davos, Switzerland, Jan. 21, 2026.
Denis Balibouse | Reuters
It’s been a tough start to the year for technology investors. Shares of seven of the eight trillion-dollar tech companies have notched losses so far.
The lone exception is Nvidia. The chipmaker’s stock is up 2.7% in 2026 as of Monday’s close, while the Nasdaq has dropped more than 2.5%. Microsoft, Amazon and Tesla have all seen double-digit declines.
Heading into Nvidia’s quarterly earnings report Wednesday, Wall Street has a pretty clear idea of where the company stands. That’s because its biggest customers announced results a few weeks ago and told investors that their mammoth spending on artificial intelligence infrastructure is only going to increase.
“Hyperscale capex forecasts for CY2026 have exceeded prior expectations,” analysts at Wedbush Securities wrote in a Monday note previewing Nvidia’s earnings. “With servers and AI infrastructure representing the bulk of forward spend, we expect growth in AI investment will somewhat exceed overall capex trends.”
Like over 90% of firms tracked by FactSet, Wedbush analysts recommend buying Nvidia shares. They have a $230 price target on the stock, which is 20% above Monday’s close.
Nvidia, the world’s most valuable publicly traded company, now gets roughly 90% of its revenue from its data center business, which houses the graphics processing units, or GPUs, and AI systems…