--- title: "Nvidia Can't Break Out. Wall Street Is Questioning $600 Billion AI Payoff" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/275932302.md" description: "Nvidia's stock has struggled to gain momentum despite significant AI capital spending plans from major tech companies, totaling over $600 billion by 2026. The stock is up less than 1% since Q4 began, raising concerns among investors about potential returns on investment. Analysts note a valuation reset, with Nvidia trading at 24 times profit estimates, down from a five-year average of 38. Investors are awaiting Nvidia's earnings report on February 25 for insights on demand and future guidance." datetime: "2026-02-13T17:39:56.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/275932302.md) - [en](https://longbridge.com/en/news/275932302.md) - [zh-HK](https://longbridge.com/zh-HK/news/275932302.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/275932302.md) | [English](https://longbridge.com/en/news/275932302.md) # Nvidia Can't Break Out. Wall Street Is Questioning $600 Billion AI Payoff Big tech's swelling AI budgets haven't given Nvidia much lift, leaving the chipmaker trading in a narrow range. Despite record highs in October, the stock is up less than 1% since the start of the fourth quarter, a far softer pace after Nvidia's gains in 2025. Meta , Alphabet , Microsoft (MSFT) and Amazon (AMZN) are planning AI capital spending estimated at over $600 billion in 2026, yet that deluge hasn't erased worries about returns. Some investors fear capex may outpace revenue from AI, accelerating a pause in new spending, said JoAnne Feeney of Advisors Capital Management, saying higher outlays raise the chance compute is "digested" sooner. Bloomberg shows sales may rise about 58% in the current year and about 28% in 2027, helping explain the valuation reset and analyst scrutiny. Nvidia now trades at about 24 times profit estimates, down from a five-year average near 38, a shift UBS strategists say reflects cooling capex growth for infrastructure providers. Investors will scrutinize Nvidia's earnings and guidance on Feb. 25, with many waiting for management's read on demand before adjusting models. ### 相關股票 - [SPDR S&P Software (XSW.US)](https://longbridge.com/zh-HK/quote/XSW.US.md) - [YieldMax NVDA Option Income Strategy ETF (NVDY.US)](https://longbridge.com/zh-HK/quote/NVDY.US.md) - [Direxion Daily NVDA Bear 1X ETF (NVDD.US)](https://longbridge.com/zh-HK/quote/NVDD.US.md) - [NVIDIA (NVDA.US)](https://longbridge.com/zh-HK/quote/NVDA.US.md) - [Direxion Semicon Bull 3X (SOXL.US)](https://longbridge.com/zh-HK/quote/SOXL.US.md) - [iShares Expanded Tech Software Sector ETF (IGV.US)](https://longbridge.com/zh-HK/quote/IGV.US.md) - [T-Rex 2X Long NVIDIA Daily Target ETF (NVDX.US)](https://longbridge.com/zh-HK/quote/NVDX.US.md) - [Spdr Select Tech (XLK.US)](https://longbridge.com/zh-HK/quote/XLK.US.md) - [iShares Semiconductor ETF (SOXX.US)](https://longbridge.com/zh-HK/quote/SOXX.US.md) - [GraniteShares 2x Long NVDA Daily ETF (NVDL.US)](https://longbridge.com/zh-HK/quote/NVDL.US.md) - [GraniteShares 2x Short NVDA Daily ETF (NVD.US)](https://longbridge.com/zh-HK/quote/NVD.US.md) - [VanEck Semiconductor ETF (SMH.US)](https://longbridge.com/zh-HK/quote/SMH.US.md) - [T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ.US)](https://longbridge.com/zh-HK/quote/NVDQ.US.md) - [AXS 1.5X NVDA Bear Daily ETF (NVDS.US)](https://longbridge.com/zh-HK/quote/NVDS.US.md) - [Direxion Daily NVDA Bull 2X Shares (NVDU.US)](https://longbridge.com/zh-HK/quote/NVDU.US.md) ## 相關資訊與研究 - [Nvidia Executives Join AI Investment Firm Raising $250 Million](https://longbridge.com/zh-HK/news/278931577.md) - [Foxconn says Iran conflict having limited impact so far](https://longbridge.com/zh-HK/news/278019227.md) - [Compal Electronics to present rack-level AI infrastructure at NVIDIA GTC 2026](https://longbridge.com/zh-HK/news/279001315.md) - [Jensen Huang Says The $700 Billion AI Buildout Has 'Just Begun,' Explains Why 'Trillions…Still Need To Be Built'](https://longbridge.com/zh-HK/news/278714475.md) - [Better Artificial Intelligence (AI) Stock to Buy in March: Nvidia vs. Taiwan Semiconductor Manufacturing Co.](https://longbridge.com/zh-HK/news/278624430.md)