The stock climbed to $207.28 on Wednesday, lagging AMD's 17% jump after strong earnings and moving Nvidia from worst to third-worst recent performer in the PHLX Semiconductor index.
The rally came despite Nvidia's weaker recent returns over one, three and six months, reflecting investor concern that AI chip demand is shifting from model training toward inference computing.
That transition has reduced enthusiasm for Nvidia's GPU-heavy positioning, even as demand grows for AI agents that require far more inference capacity across the semiconductor sector.
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