Nvidia Surges on SpaceX Deal, Eyes $308 Price Target

Nvidia (NVDA.US) stock has surged 15% over its last five days of trading, pushing its market capitalization to $5.35 trillion and reclaiming its position as the top-valued company from Apple (AAPL.US).

The rally was triggered by Elon Musk's confirmation that SpaceX will exclusively use Nvidia GPUs in its operations, including the upcoming Vera Rubin platform.

Nvidia's commitment to AI infrastructure has been a key driver of growth, with investors estimating that the expansion could generate over $160 billion in incremental revenue for the company.