NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) trades at $218.66. With shares pressing toward a 52-week high of $236.26, the question is whether the AI infrastructure story still has room to run or whether expectations have caught up to the business.

Nvidia designs the GPUs, networking fabric, and software platforms powering virtually every serious AI deployment globally. The company sits at the center of what CEO Jensen Huang calls “the largest infrastructure expansion in human history,” with hyperscalers, sovereign clouds, and enterprises racing to build compute capacity.

Shares are up 17.38% year to date and 54.29% over the past year, driven by a Blackwell ramp that has reaccelerated revenue…