Nvidia shares rose on Tuesday, putting the stock on track for a 10th consecutive session of gains.
At the time of writing, the Nvidia stock was up 1.6% to trade around $192.
The move was supported by a broader market rally. The S&P 500 gained 0.4%, while the Dow Jones Industrial Average added 158 points, or 0.3%.
The Nasdaq Composite advanced 1%, led by technology stocks.
Markets moved higher even as peace talks between the US and Iran showed signs of strain, with investors still hopeful that a deal could be reached.
Nvidia denies acquisition speculation
The stock also found support after Nvidia dismissed reports that it was considering a major acquisition.
A report from SemiAccurate claimed the company had been in discussions for more than a year to acquire a large PC and server-focused business, naming Dell Technologies and HP as potential targets. Nvidia denied the report.
While Nvidia has been active in making smaller strategic investments across its supply chain—including stakes in companies such as Marvell Technology, Lumentum, Coherent, CoreWeave, Nebius, Synopsys, and Nokia—a large-scale acquisition would represent a significant strategic shift.
Such a move could raise antitrust concerns, potentially undermine Nvidia’s position as a neutral supplier, and pressure its margins and capital return profile.
Launch of Quantum AI models
Separately, Nvidia announced the launch of its “Ising” family of open-source quantum AI models, designed to help researchers and enterprises build more reliable quantum computing systems.
The models aim to address key challenges such as quantum processor calibration and error correction.
According to the company, the Ising models can deliver up to 2.5 times faster performance and three times higher accuracy in decoding processes used for error correction.
Jensen Huang said the technology represents a step toward scalable quantum computing. “AI is essential to making quantum computing practical,” he said.
“With Ising, AI becomes the control plane — the operating system of quantum machines — transforming fragile qubits to scalable and reliable quantum-GPU systems.”
The quantum computing market is expected to surpass $11 billion in 2030, according to analyst firm Resonance
Nvidia stock remains range-bound
Despite the recent rally, Nvidia shares continue to trade within a narrow range of $175 to $195, where they have remained for several months.
Investors are looking for a clear catalyst to push the stock beyond this band.
Stability in geopolitical conditions is seen as one potential trigger, as ongoing tensions have weighed on risk appetite.
A key overhang for the stock remains uncertainty around artificial intelligence spending.
Large technology companies—often referred to as hyperscalers—have driven demand for Nvidia’s chips through aggressive investment in data centres and infrastructure.
However, investors are increasingly questioning how long this pace can be sustained and when it will translate into meaningful returns.
Major customers, including Microsoft, Alphabet, and Amazon, continue to spend heavily, but confidence in near-term monetisation has weakened.
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