Still, the retail sentiment for NVDA was ‘extremely bearish’ on Stocktwits.
- Kazakhstan announced it is setting up a large-scale computing complex that will use 100,000 advanced Nvidia GPUs.
- US stocks rose on Monday after the U.S. and Iran announced a peace deal, ending months of war.
- NVDA stock has been a laggard compared to chip peers and its retail sentiment dipped to ‘extremely bearish’ on Monday.
Nvidia Corp. shares rose about 3% in early premarket trading on Monday, joining a broader market rally after U.S. President Donald Trump and Iranian officials announced a peace agreement expected to end months of conflict and reopen the strategically important Strait of Hormuz.
If those gains hold on Monday, it would be NVDA’s best session in two weeks, although it’s still lagging its peers in terms of returns year to date. As of the last close, NVDA stock has gained just 10%, compared to 97% gained in the semiconductor benchmark, the iShares Semiconductor ETF (SOXX), and a 16.3% rise in the Invesco QQQ Trust Series 1 (QQQ).
Retail View On NVDA
The mixed reaction was reflected in trader sentiment. On Stocktwits, retail sentiment on Nvidia remained “extremely bearish,” down from “bearish” a day earlier. Even so, many users welcomed the stock’s premarket gains and expressed optimism that the move could help Nvidia break out of its recent trading range.
Nvidia’s premarket move was notably smaller than its peers'. Intel stock gained 3.5%, Advanced Micro Devices stock gained 4.7%, and Broadcom stock rose 4.2%.
“$NVDA $MU $AAPL $AMD $BA As long as Iran sticks to the deal and the strait remains open OIL will come way down and so will inflation. And stocks will just keep going up. Of course there'll be some setbacks from time to time. But you can play off of that,” said a trader.
Kazakhstan’s Nvidia Deal
In other catalysts, Kazakhstan signed accords with the startup Firebird Inc. on computing projects involving Nvidia Corp. that could bring as much as $10 billion in investment
Kazakhstani Prime Minister Olzhas Bektenov said the project will enable the creation of a large-scale computing cluster based on 100,000 of the latest-generation GPUs, including Nvidia GB300 and Vera Rubin, according to a Bloomberg report. Last year, Kazakhstan launched a supercomputer powered by Nvidia H200 chips.
US Stocks Jump As Iran War Nears End
U.S. stock futures rose, and oil prices fell early Monday, reacting to Trump’s war update. “The Deal with the Islamic Republic of Iran is now complete,” Trump said on his Truth Social account at 4:30 pm ET on Sunday. “Congratulations to all! I hereby fully authorize the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade.”
In a follow-on post, he said the formal agreement would be signed on June 19, which is when the Strait of Hormuz would be opened “for purposes of mine removal, (and) oil will flow on both ends again for the Region.”
Market expectations have shifted throughout the war, with broad rate-cut expectations fading and being replaced by higher-for-longer interest-rate environments across economies, CNBC reported.
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