Nvidia shares rose 0.7% to $226.24 in premarket trading Friday after Elon Musk outlined xAI’s deployment of Nvidia processors at its Memphis facility, Colossus. The site currently operates about 780,000 Hopper and Blackwell-generation processors, with 220,000 GB300 Blackwell processors scheduled to go live next week and another 220,000 planned for October. Musk said a further 220,000 could be added by late December if conditions allow, potentially bringing the facility’s total to 1.44 million processors by year-end. The pace could ease concerns that data center construction will lag chip supply, while Oracle’s Project Jupiter development in New Mexico has faced reported payment-related setbacks, though Oracle says the project remains on schedule. Analysts remain bullish on Nvidia, with four Strong Buy ratings, 50 Buy ratings and one Hold rating; the average price target is $324.14, while Wedbush and BMO Capital Markets have targets between $340 and $345. SFE Investment Counsel increased its Nvidia holding by 1.9% in the latest quarter. Insiders sold about $399.5 million of shares over the past three months, including transactions by director Mark Stevens and EVP Timothy Teter under predetermined trading plans. Nvidia’s August 26 quarterly results exceeded analyst expectations, with revenue reaching $96.22 billion, up 105.9% year over year. Rising Treasury yields and higher memory-component costs remain headwinds, but Musk’s chip orders are supporting the stock’s momentum into the weekend.