Nvidia Stock Had a Volatile 2025: What’s the 2026 Forecast?

Nvidia stock (NVDA) is up 41.88% year-to-date and is the second-best performing constituent of the “Magnificent 7” stocks, trailing only Alphabet (GOOG) (GOOGL), whose 2025 price action surprised even some of the bulls. While Nvidia’s 2025 returns – which are well above twice the average S&P 500 Index ($SPX) constituent – would look stellar, they pale in front of the triple-digit returns that it delivered in the previous two years.

Nvidia stock was quite volatile this year and plunged to $86.62 on April 7 amid U.S. President Donald Trump’s tariffs. The rebound was also quick, though, and the stock has more than doubled from its 2025 lows even as it is down 11.37% from the record high of $212.19 in late October.  

Nvidia Announced Multiple Deals in 2025

Nvidia went on a deal-making spree in 2025, announcing a flurry of investments. Among others, it reported an investment of up to $100 billion in OpenAI, $5 billion in Intel (INTC), $10 billion in Anthropic, $1 billion in Nokia (NOK), $2 billion in Synopsis (SNPS), and also participated in funding rounds of several other companies this year. In addition, it committed to invest two billion British pounds in AI startups in the U.K. as well as reportedly investing $2 billion in Elon Musk’s xAI. 

More recently, Nvidia struck a non-exclusive licensing agreement with Groq in a deal that is said to be valued at $20…