Nvidia’s Multi-Pronged HBM Strategy Takes Shape in Seoul While Shares Test Technical Floor

Nvidia shares hover near 50-day moving average after Computex profit-taking, while CEO Jensen Huang finalizes HBM deals with SK, Samsung, and Micron to secure supply for Vera Rubin.

Nvidia shares ended last week nursing a 5.4% loss at €178.08, leaving the stock within striking distance of its 50-day moving average. That technical line, currently at €174.40, now acts as a flashpoint for a market grappling with profit-taking following the Computex 2026 product blitz. Yet even as the paper trades nervously, chief executive Jensen Huang is working on the ground in Seoul to fortify the supply chain that underpins Nvidia’s next growth chapter.

Huang is set to appear alongside SK Group chairman Chey Tae-won on Monday to formalise a cooperation plan centred on high-bandwidth memory (HBM). The two executives will lock in agreements to secure critical memory chips for Nvidia’s Vera Rubin supercomputing platform. SK hynix will supply DRAM for the new processors, while Samsung and Micron are being drafted in to deliver HBM4 modules as part of a deliberate diversification strategy. Huang has warned that HBM shortages could persist for years, and the multi-supplier approach is designed to insulate Nvidia from a bottleneck that threatens to constrain the entire AI sector.

The urgency of that mission stands in sharp contrast to the mood in the secondary market. Nvidia stock now sits roughly 12% below the all-time high of €202.50 it touched in May. Friday’s selloff followed the conclusion of Computex 2026, where Nvidia unveiled its RTX Spark “Superchip” for AI PCs and confirmed the start of serial production for the Vera-Rubin architecture. Rather than euphoria, the news triggered a wave of profit-taking.

Adding to the near-term unease are insider transactions that have drawn scrutiny. Over the past 90 days, company insiders have sold shares worth approximately $387m, with director Mark A. Stevens offloading 500,000 securities alone. Institutional investors, however, have largely held their ground, suggesting the selling is not a broad vote of no confidence.

Technically, the 50-day line at €174.40 is the defining level for the week ahead. The 14-day relative strength index stands at 45.3 – neutral, with a slight bearish tilt. The annualised 30-day volatility of 43.54% underscores the violent swings typical of the semiconductor space right now. Should the 50-day give way on a closing basis, the next support levels sit at the 100-day average of €165.70 and the 200-day line at €161.46. Conversely, a successful defence of the moving average could trigger a bounce toward €190.

The fundamental case for owning Nvidia remains robust, providing a counterweight to the technical jitters. Bank of America maintains a buy rating with a $350 price target, arguing that the value per gigawatt of AI infrastructure will double from $40bn on the Blackwell generation to $80bn on Vera Rubin. That thesis is backed by operating results: revenue surged 85% year-on-year to $81.6bn in the most recent quarter. Nvidia has also raised its quarterly dividend to $0.25 per share and is running a multi-billion-dollar buyback programme.

This week brings additional catalysts. Nvidia is represented at London Tech Week from June 8 to 12, where further details on the Vera-Rubin platform and initial delivery timelines could emerge. Analysts’ average price target of €258.67 implies a theoretical upside of roughly 45% from current levels – but that potential will only start to be realised if the stock can hold the €174.40 floor. All eyes are now on Seoul and the specifics of the memory pacts that Huang is assembling to keep the AI engine running.