Nvidia stock hits new all-time high: should you buy or take profits?

Nvidia stock NVDA climbed again on Friday, extending a rally that has already pushed the stock to a fresh all-time high.

NVDA touched fresh record territory between roughly $216.8 and $217.7 intraday on Friday before easing back toward the $215.80 level.

The latest rally has reignited a familiar debate that follows every big leg up: Is this still a buy, or is it time to lock in gains?

The answer from Wall Street is still largely bullish, but the stock’s scale, valuation and pace of gains mean the bears are not hard to find.

Nvidia stock: What is driving today’s move

The immediate catalyst is Nvidia’s new partnership with IREN, the data-center operator that is building out a large AI infrastructure footprint.

Nvidia is planning to invest up to $2.1 billion in IREN through a five-year option to buy as many as 30 million shares at $70 each, while the two companies aim to deploy as much as 5 gigawatts of AI infrastructure.

Jensen Huang framed the deal in classic Nvidia fashion, saying, “AI factories are becoming foundational infrastructure for the global economy.”

The bigger message is that the AI build-out is still broadening rather than narrowing.

AMD’s strong outlook this week and the latest gains in chip stocks have reinforced the view that hyperscalers and infrastructure players are still spending aggressively on compute.

The bull case is still firmly in charge

The Street remains overwhelmingly constructive as MarketBeat data shows 54 analysts covering Nvidia, with 48…