NVIDIA ($NVDA) rose on May 06, 2026. Here's the breakdown of what drove the move and what traders are watching next.
What Happened
Continued AI infrastructure demand, Anthropic partnership for AI supercomputer access
The Bull Case
4.25% gain on $5T market cap; AI infrastructure secular tailwind intact; SpaceX/Anthropic deals validate demand; RSI 58.4 shows room to run
The Bear Case
Valuation stretched at P/E 41.9; some analysts warn chip trade broadening beyond NVDA; potential margin compression if competition intensifies
Price Target & What to Watch
$269.82 (analyst target)