Nvidia was edging up early Monday after a difficult week that saw the chip maker's shares fall below its recent floor of $200. News of another major data-center deal could be helping the stock.
Nvidia shares were up 0.9% at $194.33 in premarket trading. The stock is down 7.7% over the past five trading sessions, hit by a widespread selloff in the chip sector.
However, there are still plenty of signs of strong demand for Nvidia's processors. Australian firm Firmus signed an eight-year partnership with Nvidia to build a dedicated 360 megawatt AI facility in Batam, an Indonesia island off the coast of Singapore, it said in a statement Monday. The agreement includes procuring up to 170,000 Nvidia graphic processing units through 2027 and 2028.
Firmus said in April it raised $505 million in strategic equity investment led by Coatue with participation from Nvidia.
Firmus will sell Nvidia-powered cloud services, with Nvidia receiving both standard product revenue and a share of the cloud revenue on the supported capacity. Firmus projects it will receive $25 billion to $30 billion from committed agreements from customers during the first six years of the partnership.
Nvidia was named a Barron's stock pick on May 13, when shares were trading at $226.
Write to Adam Clark at adam.clark@barrons.com
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(END) Dow Jones Newswires
June 29, 2026 06:51 ET (10:51 GMT)
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