Nvidia Stock Analysis: Correction Near $182 Amid X.AI Partnership and Upcoming Earnings

This week, reports emerged that Elon Musk’s startup X.AI Corp. intends to lease high-performance chips worth up to $20 billion. The company’s business model differs from rivals like OpenAI and Anthropic, which prefer to own their data centers outright. The leased hardware is expected to be used in the upcoming Colossus 2 data center. The leasing operation will reportedly be handled by Valor Equity Partners, which plans to invest $7.5 billion in equity and $12.5 billion in debt financing. Meanwhile, Nvidia Corp. will not limit its role to supplying chips — it is also set to contribute $2 billion in equity to the joint venture.

The company will release its quarterly earnings report on November 19. Forecasts suggest revenue will rise to $54.5 billion from $46.7 billion in the previous quarter and $35.1 billion a year earlier. Earnings per share are expected to reach $1.24, compared with $1.04 and $0.81, respectively.

Support and Resistance Levels

On the daily chart, the price continues to move within a corrective phase of a broader uptrend, trading near the lower boundary of the channel between 210.00 and 174.00.

Technical indicators maintain a moderately bullish but unstable signal: the EMA-based “Alligator” indicator is narrowing downward, and the AO histogram is approaching the zero line while forming new corrective bars.

Support levels: 176.50, 157.60.
Resistance levels: 188.00, 205.00.

Trading Scenarios and Nvidia Stock Forecast

If the price continues to rise and consolidates above the resistance level of 188.00, buy positions will be relevant with a target at 205.00. Stop-loss: 180.00. Time horizon: 7 days or more.

If the price reverses and breaks below the support level of 176.50, sell positions will become relevant with a target at 157.60. Stop-loss: 181.00.