Nvidia Stock Price Forms Bullish Pattern After Intel Earnings

Nvidia stock remained inside a narrow range on Friday despite Intel’s stronger-than-expected earnings report.

NVDA traded near $208, about 27% above its lowest level this year. Investors also awaited earnings from several major technology companies.

Intel’s report supported the wider artificial intelligence demand outlook. However, Nvidia stock failed to deliver a clear breakout amid rising infrastructure spending.

Intel Published Strong Earnings

Nvidia stock wavered after the recent earnings by some of the biggest technology companies in the world. Intel’s results showed that its business was doing well as the artificial intelligence boom accelerated.

Its revenue jumped by 25% YoY to $16.1 billion, while its gross margin jumped to 40.4%. Also, its data center and AI revenue soared by 59% to $6.3 billion, while its client computing and physical AI group rose by $13 to $8.9 billion.

Intel’s earnings are important for Nvidia for two main reasons. First, its numbers are a sign that the artificial intelligence boom is continuing and accelerating.

Second, Nvidia is the third-biggest shareholder of Intel after BlackRock and Vanguard Capital Management. It holds 214 million shares, currently worth over $21 billion. It invested $5 billion in the company last year, making it one of the best investments. Intel’s stock surge will benefit the company.

Nvidia has benefited from other large investments, including companies like Arm, CoreWeave, Nebius Group, and Lumentum.

Intel’s earnings came a few days after Alphabet and Tesla published their numbers. Alphabet expects that it will spend over $205 billion in revenue this year. Tesla also announced that it will continue spending, especially in its Texas plant, where Intel is a partner. The company expects to spend about $10 billion on Nvidia hardware for AI training.

More companies in the technology space will publish their financial results next week. Microsoft and Meta Platforms, which are valued at over $3.15 trillion and $1.69 trillion, will release their numbers on Wednesday. Amazon will then release its numbers on Thursday.

These companies are expected to report strong earnings next week. Most importantly, they will provide more color on their spending plans. A sign that they will follow in Alphabet’s footsteps will be a sign that Nvidia will continue seeing strong demand.

Nvidia’s Business is Still Thriving

Nvidia’s business is still doing well despite the rising competition from companies like AMD, OpenAI, and Google.

The most recent data revealed that its revenue jumped by 85% in the first quarter to over $81 billion. In its guidance, the company estimated that its revenue will jump to over $91 billion.

Analysts, on the other hand, expect that the revenue will come in at $92 billion, up by 96% YoY. Such a big revenue growth is a big milestone for a company that was started three decades ago.

The company has numerous catalysts that may fuel its revenue growth. It recently launched its CPU that will see it compete with the likes of Intel and AMD. This business will see it benefit from the ongoing AI agents business. It has also started selling its products in China, and recently reached a deal with Bristol Myers Squibb.

Nvidia Stock Price Technical Analysis

The four-hour chart showed that Nvidia stock rebounded from approximately $190 in July to around $208.

NVDA appeared to form an inverted head-and-shoulders pattern. Traders often view that structure as a potential bullish reversal when price clears its neckline.

The stock also moved above its 50-period exponential moving average. It was testing the 38.2% Fibonacci retracement level.

A confirmed breakout above the pattern’s neckline could expose the $220 resistance level. That price also aligned with the 23.6% retracement area.

A move above $220 could shift attention toward the previous high near $236.

However, the pattern remained unconfirmed while Nvidia stock traded below resistance. A rejection could return price toward the $200 psychological level.

A deeper decline would expose the July support area near $190.

Intel’s earnings supported Nvidia’s broader demand outlook. The immediate NVDA stock direction still depended on the technical breakout and upcoming hyperscaler spending guidance.