Nvidia stock is showing positive signs on a technical level in a week of significant news for artificial intelligence that should help market sentiment -- but still the stock seems range-bound.

The shares were edging up in early trading Thursday, after a 3% jump on Wednesday. The shares are up some 15% from a low in late June, which came amid concerns including around the sustainability of chip prices, and remain almost a quarter higher over the past year.

On paper, the technicals for the stock look positive. After closing above $224 on Wednesday, the share price is sitting comfortably above all of its 20-day, 50-day, and 200-day moving averages -- $208, $206, and $195, respectively. In fact, a week ago Nvidia stock's 20-day moving average crossed over the 50-day figure, a typically strong sign of momentum.

Yet this week shares of the chip giant, one of the darlings of the AI boom, have barely budged, chopping up and down in around a $10 range.

This may be slightly unusual given the flurry of news around AI, including developments that should help Nvidia.

Earlier this week Nvidia announced its partnership with some of the biggest names on Wall Street to mobilize some $500 billion in financing for AI infrastructure. The move should allay some fears around "circular financing" in the AI sector as the plan paves the way for big Wall Street money to get into the infrastructure funding game.

The company, along with Meta, also released open-weight AI models this week, making a significant foray into the open-source AI model space that has so far been dominated by Chinese companies.

A report in the past day that Anthropic, the AI powerhouse behind Claude, could go public in October at a valuation north of $2 trillion, according to the Financial Times, was another opportunity for Nvidia to shine. While there remain some nerves in markets around the sustainability of AI spending, if Anthropic may be seriously poised for a $2 trillion go public, that would suggest optimism continues to reign supreme.