Nvidia Stock Today: NVDA Trades at $191 as Wall Street Holds Its Breath for Wednesday's Earnings Blockbuster

Nvidia stock is the center of the financial universe this Monday, February 23, 2026, and every investor from Main Street to Wall Street is watching closely. NVDA is trading at $191.13, down $1.38 (-0.72%) on the session — a modest pullback that analysts say means nothing compared to what is coming. Nvidia will disclose its fiscal 2026 fourth-quarter earnings report after the close this Wednesday, February 25, making this one of Wall Street's most anticipated events of the year. With a $250 analyst price target circulating, a fresh Meta Platforms mega-deal inked, and $500 billion in Blackwell and Rubin chip orders already on the books, Nvidia stock is coiled like a spring heading into earnings.

Nvidia Stock Price Today: Where NVDA Stands Right Now

US stocks sank on Monday as fresh concerns about the impact of artificial intelligence hit financial and software companies, while President Donald Trump's move to impose a new across-the-board levy on US imports sowed confusion around global trade. Shares of Nvidia erased earlier gains before Wednesday's earnings report.

NVDA stock has gone nowhere in 2026 so far, even as major indices soared to record highs. It remains 10% below its all-time high and has formed a risky technical pattern ahead of earnings.

Nvidia Q4 Earnings Wednesday: What Analysts Expect

Analysts are calling for earnings of $1.53 per share, up 71.9% year over year, on revenue of $65.7 billion — a 67% increase from the same period last year. The bar is extraordinary, yet analysts believe Nvidia will clear it comfortably. One Wall Street analyst wrote in a February 23 note to clients: "We expect Nvidia to trade up on good results, with a clear acceleration in near-term drivers, an impactful and accelerating Vera Rubin ramp, and long-term confidence." He added that "it does not feel like there's been a deceleration" and that Nvidia will beat both its guidance and the Street's forecast.

Nvidia is due to post fourth-quarter results Wednesday, with eyes on the previously reported $500 billion in orders for Blackwell and Rubin chips lined up for the 2026 year.

Meta-Nvidia Deal and $660 Billion in AI Spending: The Bull Case

The macro backdrop for Nvidia stock has never been stronger. Data center spending has accelerated, with the top four companies pledging to spend over $660 billion this year — funds that will flow directly to Nvidia, the company that makes the most advanced AI chips.

On February 17, Meta Platforms and Nvidia announced a major expansion of their partnership. Under the new multi-year agreement, Meta will purchase millions of Nvidia's latest chips, including Blackwell and Rubin GPUs, along with CPUs, networking and security technologies. The chips will be deployed across Meta's own data centers and supplemented through Nvidia's Cloud Partner ecosystem — a deal that locks in billions in forward revenue before a single chip ships.

Nvidia's most recent quarter showed why investors are still upbeat about the AI boom. In its fiscal third quarter of 2026, the AI chipmaker's revenue rose 62% year over year to $57.0 billion — an acceleration from the prior quarter, when revenue rose 56% year over year to $46.7 billion. Data center revenue rose 66% year over year to $51.2 billion.

Vera Rubin, Blackwell, and the Next GPU Generation

Beyond this week's earnings, Nvidia's longer-term roadmap is what has analysts setting $250 price targets. A strong ramp in Nvidia's Vera Rubin next-generation, six-chip AI platform will help mitigate any worries over weakness in the share price. Vera Rubin — Nvidia's successor to the Blackwell architecture — is expected to begin volume shipments in late 2026 and represents the next leg of the AI infrastructure supercycle that has driven Nvidia stock up more than 750% over the past three years.

Nvidia is also moving back into the consumer laptop market, targeting the 150-million-unit laptop space with low-power but high-performance AI chips — a move that broadens Nvidia's revenue streams well beyond the data center.

Risks: Tariffs, SaaSpocalypse, and the China Question

Not every signal pointing at Nvidia stock is green. The catalyst for a sell-off in software stocks came after Anthropic released Claude Cowork, a sophisticated agentic AI system allowing for developing sophisticated agents without needing to know how to code — triggering what Wall Street has called "SaaSpocalypse." Nvidia CEO Jensen Huang pushed back, noting that "there's this notion that the software industry is in decline and will be replaced by AI — it is the most illogical thing in the world."

U.S.-China trade restrictions still pose risks. Even with the seeming thaw, tariffs could raise costs — which would explain the price hikes reportedly implemented. The Supreme Court's striking down of Trump's IEEPA tariffs, replaced by a new 15% Section 122 tariff, adds a fresh layer of uncertainty for a company with significant global supply chain exposure.

Should You Buy Nvidia Stock Before Earnings?

One analyst's note says clearly: "We would be buyers of Nvidia stock into this report" — backing a $250 price target representing more than 30% upside from current levels. Technical analysts note NVDA finds support from accumulated volume at $180.99, and systems project a possible swing of +/- 3.38% in the first trading day after earnings release on Wednesday. With $65.7 billion in quarterly revenue expected, $500 billion in forward chip orders confirmed, and the Vera Rubin platform accelerating, Wednesday's Nvidia earnings report has the potential to be one of the most market-moving events of 2026.