Nvidia Stock Climbs as Huang Defends AI Capex Surge

Nvidia shares rose about 8% after CEO Jensen Huang argued on CNBC that AI-related capex by major tech firms is necessary and sustainable, driven by a massive infrastructure buildout for AI. He pointed to growing cash flows and rising demand for computing power, with hyperscalers like Meta, Amazon, Alphabet, and Microsoft potentially spending up to $660 billion on capex this year, much of it on AI infrastructure and Nvidia chips. Analysts show a Strong Buy consensus with an average target near $260, implying roughly 40% upside.