TradingKey – Nvidia’s chip demand remains strong, driving its stock price to surge and likely challenge its all-time highs in August.

On August 5, Eastern Time, Nvidia ( NVDA) saw its stock price surge over 3% to close at $219.22, hitting its highest level since early June this year. Over the past five trading days, Nvidia’s stock has continued to rebound, gaining a cumulative 10.47% and recovering most of its losses since May, primarily driven by tech giants continuously ramping up AI capital expenditure and SpaceX ( SPCX) securing massive new orders.

Recently, Microsoft ( MSFT ), Amazon ( AMZN ), Alphabet ( GOOG) and Meta ( META) and other large cloud service providers released their earnings reports. Their capital expenditures all…