Nvidia’s share price took a hit this week, closing at $120.54 on January 31, down 3.6% from the previous day, as investors reacted to concerns over big tech’s artificial intelligence (AI) infrastructure spending.
The recent performance was fueled by Chinese AI startup DeepSeek’s report of using fewer resources than industry leaders like ChatGPT, sparking questions about US AI dominance and leading to a $1 trillion technology stock rout. However, the meeting between Nvidia CEO Jensen Huang and President Donald Trump at the White House has raised hopes that policy shifts could boost the company’s stock past $140.
Analysts have varying opinions on NVDA’s next price target. EliteOptionsTrader sees solid support at $120 with resistance at $127, while Mike Investing highlights a cup-and-handle pattern that suggests institutional accumulation and potential catalysts like Huang’s meeting with Trump could drive prices to new highs.
Wall Street analysts are divided on the impact of DeepSeek’s release on Nvidia. Tigress Capital’s Ivan Feinseth remains bullish, citing The Stargate Project’s $500 billion AI investment as proof of Trump’s support. However, Citigroup’s Atif Malik and Cantor Fitzgerald’s C.J. Muse have downgraded their targets to $175 and $200, respectively.
Despite the volatility, Nvidia’s long-term outlook remains bullish. A target at the $130 resistance level will depend on upcoming fundamentals, including the company’s earnings. If NVDA beats analysts’ estimates, it could be a good starting point to move beyond DeepSeek-driven volatility and target $140 with potential policy shifts from the Trump meeting as a springboard for further highs.
Source: https://finbold.com/will-nvidia-stock-hit-140-after-ceo-huangs-meeting-with-trump