NVIDIA shares extend gain to 1%, session high

NVIDIA shares rose 1% to a session high on March 10, 2026, extending gains amid renewed optimism about its AI-driven growth trajectory. The stock’s rise followed recent comments from CEO Jensen Huang, who emphasized the sustainability of hyperscalers’ $660 billion AI infrastructure investments, citing robust cash flows and high hardware utilization rates. Morgan Stanley recently reinstated NVIDIA as its top pick, citing its critical role in AI ecosystems and cost advantages from declining memory chip prices.

The company’s financial performance reinforced this bullish sentiment. For the quarter ended January 25, 2026, NVIDIA reported $68.1 billion in revenue, a 73% year-over-year increase, with data center revenue surging 75% to $62.3 billion. Earnings per share grew 82% to $1.62, exceeding analyst estimates. The firm also raised its fiscal Q1 2027 revenue guidance to $78 billion, reflecting sustained demand for its Blackwell and Rubin platforms.

Analysts remain largely positive, with 44 of 49 covering the stock assigning a “Strong Buy” rating and a mean target price of $264.38, implying ~44% upside from recent levels. However, NVIDIA’s forward price-to-sales ratio of 11.93 exceeds the semiconductor sector median of 3.05, raising questions about valuation.

In sector comparisons, NVIDIA outperformed the Computer and Technology group, which declined 2.2% year-to-date, though it lagged IPG Photonics, which surged 88% in 2026. The stock remains a focal point for investors navigating AI-driven market shifts, with its dominance in GPU ecosystems and strategic partnerships positioning it as a key player in global AI infrastructure.