NEW YORK, Feb 20, 2026, 13:12 EST — Regular session
- Nvidia edged up, following a report it’s nearing a $30 billion investment in OpenAI.
- Meta climbed, with AMD slipping; Alphabet outpaced other megacaps as U.S. stocks moved higher
- Nvidia’s results, due next week, have traders watching closely for the latest signals on AI demand and spending.
Nvidia edged up 0.3% to $188.54 Friday on word that the AI chip giant is nearing a $30 billion deal to invest in OpenAI, according to a person with knowledge of the talks. The planned stake would come as part of OpenAI’s ongoing fundraising, with the ChatGPT creator looking to raise north of $100 billion and aiming for a valuation near $830 billion. 1
Timing is key here—investors have been jumpy about just how much cash is pouring into AI, and they want to know when those investments start lifting earnings. Nvidia’s set to report next week, and all eyes are on that number. “The expectation for outsized results for Nvidia has been a persistent theme,” said Marta Norton, chief investment strategist at Empower. She pointed out it’s getting tough for Nvidia to hype results when the whole market is already tuned in. 2
Stocks have been acting twitchy, with some moves coming off as almost automatic. “At a certain point, weakness in tech was bound to bring in the marginal buyer,” Baird investment strategy analyst Ross Mayfield said. Wall Street finished in positive territory Wednesday, lifted by Nvidia and other big AI names. 3
AI names caught a bit of a break as the broader market moved up on Friday, with the U.S. Supreme Court overturning President Donald Trump’s global tariffs and the Nasdaq climbing. Alphabet finished up roughly 4.2% at $315.67. Meta added 2.0%, ending the day at $657.98. 4
Meta is dialing up its investment game. According to the Financial Times, the company trimmed annual stock option grants by roughly 5% for most employees, while CEO Mark Zuckerberg pours billions into AI and data centers. Meta projects capital spending between $115 billion and $135 billion for equipment and facilities in 2026. 5
Advanced Micro Devices dropped roughly 2.0% to $199.38. Broadcom barely moved.
The “AI trade” is still on shaky ground—any sign of weak guidance or worries that costs are outpacing demand, and things could reverse in a hurry. Valuations are propping things up for now, but if there’s even a suggestion that spending’s being pushed back, or clients start splitting up orders between different suppliers, the entire sector could get hit all at once. 6
Nvidia’s earnings are on deck, and all eyes are on what Chief Executive Jensen Huang says about demand and customer spending. Traders are also tuning in to see if big software names deliver proof that AI is driving actual sales, not simply piling on more costs.
