Nvidia Stock Steadies After Tough Week with Focus on AI Chip Demand

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Nvidia was edging up early Monday after a difficult week that saw the chip maker's shares fall below its recent floor of $200. News of another major data-center deal could be helping the stock.

Nvidia shares were up 0.9% at $194.33 in premarket trading. The stock is down 7.7% over the past five trading sessions, hit by a widespread selloff in the chip sector.

However, there are still plenty of signs of strong demand for Nvidia's processors. Australian firm Firmus signed an eight-year partnership with Nvidia to build a dedicated 360 megawatt AI facility in Batam, an Indonesia island off the coast of Singapore, it said in a statement Monday. The agreement includes procuring up to 170,000 Nvidia graphic processing units through 2027 and 2028.

Firmus said in April it raised $505 million in strategic equity investment led by Coatue with participation from Nvidia.

Firmus will sell Nvidia-powered cloud services, with Nvidia receiving both standard product revenue and a share of the cloud revenue on the supported capacity. Firmus projects it will receive $25 billion to $30 billion from committed agreements from customers during the first six years of the partnership.

Nvidia was named a Barron's stock pick on May 13, when shares were trading at $226.

Write to Adam Clark at adam.clark@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

 

(END) Dow Jones Newswires

June 29, 2026 06:51 ET (10:51 GMT)

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