Nvidia Stock Forecast: NVDA Targets Record-High After New $2 Billion AI Deal

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Firmus, an Nvidia-backed artificial intelligence (AI) infrastructure firm, raised $2 billion in a fully subscribed equity round, lifting its valuation above $10.5 billion. The round closed as NVIDIA (NVDA) shares traded within about $13 of their all-time high.

The raise is the latest in a string of multibillion-dollar commitments tied to Nvidia’s ecosystem. For NVDA bulls, it signals that heavy AI spending remains intact ahead of the August 26 earnings report.

Nvidia Doubles Down on Firmus’ AI Infrastructure Buildout

Nvidia and Coatue Management returned as follow-on investors in the round. Blackstone-managed funds and trading firm Jane Street joined for the first time, Firmus said in a statement.

Former Bitcoin Miner Firmus Raises $2 Billion as Nvidia Backs Its AI Infrastructure Pivot

Reuters reported that Firmus, an AI infrastructure company that previously operated as a Bitcoin miner, has raised $2 billion in equity funding at a post-money valuation of more than $10.5… pic.twitter.com/qMB7hK0zaD

— Wu Blockchain (@WuBlockchain) August 7, 2026

The deal follows the SpaceX satellite computing deal announced earlier this week and a June agreement for Firmus to buy Nvidia infrastructure and resell Nvidia-powered cloud services. Each new commitment feeds the same demand story that supports the stock.

The Australian company will use the proceeds to accelerate Project Southgate, its rollout of AI training and inference factories across Australia. The capital also funds expansion into Asia-Pacific markets, including a recently announced development in Indonesia.

Firmus began as a supplier of cooling technology for Bitcoin mining before pivoting to data centers built on Nvidia’s DSX reference architecture. The firm has raised over $3 billion in equity in the past year, nearly doubling its $5.5 billion April valuation.

Emanuel Ajay Datt, managing director of investment manager Datt Group, told Reuters the raise reflects how scarce such opportunities have become.

“The pace at which Firmus has re-rated demonstrates how private capital views AI infrastructure as one of the few capital-scarce opportunities in global markets right now.”

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NVDA Stock Nears Record High as Wall Street Stays Bullish

NVDA changed hands at $223.67 in midday trading on Friday, up 2.14% from the prior close of $218.99, per Yahoo Finance data. The stock sits about $13 below its record $236.54, set on May 14.

Wall Street remains firmly behind the trade. Among the 37 analysts covering NVIDIA, 36 rate the stock a Buy, with one Hold and no Sells.

Their average 12-month target of $308.69 implies roughly 38.77% upside from current levels. Forecasts range from $250 to $500, while Bernstein and Wells Fargo each hold $315 targets.

However, skeptics still question the demand behind the spending wave. Michael Burry has warned of a 1987-style crash and argues Nvidia helps finance the customers buying its chips.

One financing round will not settle that argument, which feeds a wider AI bubble debate. It does show multibillion-dollar checks for Nvidia-aligned projects keep arriving, three weeks before earnings test the demand behind them.

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