Nvidia stock was rising ahead of the open Monday but it was still lagging the broader semiconductor sector even as the chip maker eyes a raft of deals with SK Hynix, OpenAI and Siemens.
The shares were up 1.1% to $209.16 in premarket trading, after falling 0.9% in the previous session. However, the stock again looked set to underperform its peers -- Intel climbed 2.8%, Broadcom pointed 2.6% higher and Advanced Micro Devices rose 3.2%.
Nvidia has missed out on the chip rally this year, up just 11% compared with the PHLX Semiconductor Index's (SOX) 67% rise -- the index that tracks the 30 biggest U.S.-listed companies connected to semi's. That's started to change recently, though -- the stock is up 3% in July, while the SOX is down 17%.
But investors are digesting reports that the chip maker is in talks to guarantee $250 billion in financing for OpenAI for potentially the largest data-center project to date. The backing would help OpenAI lease the project that Softbank's energy subsidiary is developing in Ohio, The Wall Street Journal reported.
OpenAI and Nvidia did not immediately respond to a request for comment.
Separately, Nvidia announced a $500 billion deal with Korean memory-chip giant SK Hynix late Friday, securing a stable long-term supply of artificial-intelligence memory. The company also expanded its partnership with Siemens to deliver self-verifying agentic AI workflows, in a release late Sunday.
But with all of those developments to dissect, the stock was still looking like a chip laggard.
Write to Callum Keown at callum.keown@dowjones.com
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July 27, 2026 06:50 ET (10:50 GMT)
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