After seeing the shares jump 171% in 2024 and another 39% in 2025, it’s understandable that Nvidia (NVDA +1.67%) investors would be a little disappointed with how the stock has performed so far this year. Nvidia is showing gains of only 6% on the year, marking the stock’s worst performance so far since 2022.

I’ve held Nvidia for several years now, so I watch the stock closely. And while I wish that we were seeing double-digit gains again this year, I’m really not that focused on the stock price. Instead, there’s another number that I’m keeping in mind when I consider my position in Nvidia stock.

Image source: Nvidia.

The $700 billion commitment

The biggest factor that’s going to influence Nvidia stock comes from other tech companies…