Goldman Sachs states three key factors influencing Nvidia’s stock performance through year-end, including hyperscaler spending and updates from China. Nvidia’s stock saw significant fluctuations this year, dropping but rebounding 92%. Goldman has a mixed near-term outlook but remains optimistic for growth in 2026. Hyperscalers’ capex guidance and next-gen AI chip, Rubin, are pivotal drivers. Concerns over Nvidia’s chip sales in China led to stock volatility, with a ban on H20 chip sales impacting revenue projections. Nvidia’s sales in China represent a substantial portion of its business, with uncertainties leading to a $4.5 billion writedown.

Read more at Yahoo Finance: Goldman pinpoints the 3 biggest drivers of Nvidia stock through the end of 2025