Nvidia Corporation [NASDAQ: NVDA] reached a new 52-week high of $227.84 on Thursday, May 14, extending a six-day winning streak and building momentum ahead of the company’s fiscal first-quarter 2027 earnings report scheduled for May 20.

Bank of America analyst Vivek Arya drove the move, raising his price target from $300 to $320 while maintaining a Buy rating, citing a larger long-term AI data centre total addressable market and accelerating spending by hyperscalers that he expects will sustain revenue growth through 2027 and beyond.

Arya, ranked 81st out of more than 12,000 analysts tracked by TipRanks with an average 12-month return of over 82% on Nvidia alone over the past year, cited several specific upcoming catalysts including a potential new CPU announcement at Computex Taipei, the expected start of Vera Rubin AI system shipments in the second half of 2026, and the possibility of increased cash returns to shareholders as the company’s balance sheet strength continues to build.

Citi separately published analysis projecting Nvidia’s first-quarter revenue could beat the current Wall Street consensus of $78.62 billion by approximately $1.4 billion, which would represent a 78% year-over-year increase, while earnings per share of $1.74 would imply 115% growth versus the same quarter a year ago.

CEO Jensen Huang joined President Trump’s delegation on the China trip, sparking significant market optimism around the potential for renewed access to sell H20 chips to Chinese firms, a market that has been effectively blocked since the US government’s export controls took effect.

Nvidia has received US government clearance to sell H20 chips to approximately 10 Chinese companies, according to Reuters, but no deliveries have materialised due to pushback from Beijing-side corporate customers, making Huang’s presence in Beijing one of the most closely watched diplomatic developments heading into earnings.

Nvidia’s market capitalisation crossed $5.5 trillion during the session, a milestone achieved despite the company generating zero revenue from China under current export controls, underscoring the scale of the AI data centre opportunity that Wall Street believes will continue to drive growth without any contribution from that market.

Wells Fargo and Susquehanna both also raised their Nvidia price targets ahead of the earnings print, adding to a wall of bullish consensus that now includes 48 Buy or Strong Buy ratings from the 54 analysts actively covering the stock, with two Hold ratings and no Sells.

The average analyst price target across that group stands at $277.32, still implying meaningful upside from current levels even after the stock’s extraordinary run in 2026, with institutional ownership at 65.27% and options call volume running well above normal levels on Thursday as traders positioned for further upside into earnings.