Nvidia stock rose 3% on August 4, 2026, as investors remained optimistic about the chipmaker’s central role in the artificial intelligence infrastructure buildout, with expanding data center investments and favorable analyst sentiment supporting the move ahead of its upcoming earnings report.
Large cloud service providers are increasing spending on AI infrastructure, including Nvidia’s latest Blackwell systems, according to recent industry reports cited by market analysts. The gain came despite the stock trading mostly sideways over the past three months, underscoring how sentiment around AI demand can shift quickly even when price action remains muted.
The rally reflects growing confidence in sustained AI capex spending. Goldman Sachs’ baseline model implies $765 billion in annual AI capital expenditure in 2026, growing to $1.6 trillion by 2031. Other analysts project AI data center spending could reach $750 billion in 2026 alone, with the top four hyperscalers—Amazon, Google, Microsoft, and Meta—expected to invest over $700 billion in data centers this year.
Q2 2026 earnings season confirmed what the market had been signaling: AI capex is accelerating. Nvidia’s own fiscal 2026 results, reported in February, showed record quarterly data center revenue of $62.3 billion, up 22% from the prior quarter, with full-year fiscal 2026 revenue reaching $215.9 billion, up 65% year-over-year. That momentum has kept analysts broadly bullish on the company’s near-term prospects.
Nvidia is scheduled to report second-quarter fiscal 2027 earnings on August 26, 2026. Wall Street expects revenue and earnings to nearly double in the quarter, according to analyst forecasts cited in market commentary. The stock’s move today suggests investors are betting that cloud providers’ continued buildout of AI infrastructure will translate into strong demand for Nvidia’s chips and systems when the company reports results.
Sources
- Alpha Spread — reported Nvidia stock rose 3% on August 4, 2026, on optimism about AI infrastructure demand and data center spending.
- Yahoo Finance — confirmed Nvidia stock price movement and trading data for August 4, 2026.
- Nvidia Investor Relations — provided fiscal 2026 quarterly and full-year revenue figures, including record data center revenue.
- Goldman Sachs — projected $765 billion in annual AI CapEx in 2026, growing to $1.6 trillion by 2031.
- Tom’s Hardware — reported AI data center spending projected to reach $750 billion in 2026, with top four hyperscalers expected to invest over $700 billion.
- 247wallst.com — noted Q2 2026 earnings season confirmed AI capex acceleration.
