Nvidia and MAGS ETF rally as earnings season focuses AI spending

  • Nvidia rallied alongside the MAGS ETF as investors refocused on AI infrastructure and large-cap technology.
  • Nvidia announced a $150 billion buyback, while MAGS drew more than $1.1 billion in 30-day inflows and $1.58 billion over 12 months.
  • Upcoming Magnificent Seven, semiconductor and cloud-company earnings will indicate whether AI spending is supporting growth and Nvidia demand.

Nvidia shares reached $237 before closing at $233, while the Roundhill Magnificent Seven ETF (CBOE: MAGS) ended last week at $72.60, 1.2% below its $73.47 record, as investors returned to artificial-intelligence and large-cap technology stocks. Nvidia announced a $150 billion share-repurchase program in addition to an existing $80 billion authorization, and MAGS attracted more than $1.1 billion over 30 days and $1.58 billion over 12 months, lifting assets under management above $5.5 billion. Upcoming earnings from Alphabet, Tesla, Meta Platforms, Microsoft, Apple, Amazon and Nvidia, along with suppliers SK Hynix and Taiwan Semiconductor, rivals AMD and Intel, and neocloud providers CoreWeave and Nebius, will test whether AI infrastructure spending is translating into growth. Nvidia’s customers Microsoft, Meta Platforms, Amazon and Alphabet account for more than 40% of its revenue, while analysts cited by Benzinga expect Nvidia revenue to rise 90% to $411 billion this year and 70% next year.

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Nvidia and MAGS ETF rally as earnings season focuses AI spending - CoinPost Terminal