Nvidia's European Training Run and a $40 Billion SpaceX Order Bookend a Choppy Week
Published on 10/10/2026 at 03:31 | Editorial boerse-global.de
Nvidia closed the trading week in Europe at EUR 204.80, a level that leaves the stock up 28% since the start of the year. The steady finish came after a stretch in which the semiconductor giant absorbed a fresh analyst initiation, a pair of bullish broker moves, a landmark European training project and reports of a massive financing package tied to its chips.
The most concrete operational signal arrived Tuesday, when French AI developer Mistral disclosed that its Le Chonk model had been trained over two months on 4,000 of Nvidia's Grace Blackwell graphics processors. All of the compute power came from European data centers — a detail that matters for two reasons. It demonstrates that the current chip architecture is now running at scale in production environments, and it shows that demanding AI infrastructure is being built well beyond the large US technology firms.
That rollout story sits alongside an infrastructure assessment from Morgan Stanley, which on Monday rated both Nvidia and Broadcom as relatively well insulated against supply bottlenecks at US data centers, according to Reuters. Delays in secondary components such as memory remain a possibility, but the bank's estimates for 2027 are not at risk on that account.
BNP Paribas moved in the same direction the same day, lifting its price target on Nvidia from $285 to $345 while keeping an Outperform rating. The analysts pointed to the company's position as the foundational compute platform for the global AI economy.
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A New Bull on the Street, and a $40 Billion Borrowing Plan
Yorkville Ives added its own vote of confidence on Wednesday, launching coverage of Nvidia with an Outperform rating and a $300 price target. The initiation landed during a period of noticeable unease in the technology sector, where sentiment has been weighed down by questions over OpenAI's revenue outlook and the future scale of AI infrastructure spending. Rising oil prices and interest rate worries added further headwinds on US exchanges.
The stock found its footing in Wednesday's session, trading at EUR 206.20 for a gain of 0.3%. Even so, the shares remain 4.6% below their 52-week high as investors weigh continued technology investment against near-term economic concerns.
A financing initiative reported by Axios points to demand that runs well past the current mood swings. SpaceX is seeking a $40 billion debt package to buy Nvidia processors, split between roughly $30 billion in investment-grade corporate bonds and $10 billion in bank loans. The move underscores how specialized compute has become essential to technology projects outside traditional data centers, with major players locking in financing early to build out their own systems and sidestep hardware procurement bottlenecks.
Beyond the Data Center
Nvidia's reach is widening on other fronts as well. Microsoft unveiled the Surface Laptop Ultra, powered by Nvidia's RTX Spark platform — a step that extends the company's presence into AI-capable personal computers.
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On the research side, Nvidia announced commitments totaling $1 billion over five years to strengthen scientific work in the United States. The program spans university research, quantum computing, healthcare, energy security and cloud services for government contracts. The company did not break down how the funds will be allocated.
Between live training deployments, an expanding device footprint and long-term research funding, the operational base looks solid. Shifting revenue expectations from individual software partners will keep generating market noise from time to time, but production line utilization and the physical delivery of chips continue to provide a durable foundation.
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