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Nvidia and Palantir Approach Record Highs: Too Late to Buy?

Nvidia ((NVDA - Free Report) ) and Palantir Technologies ((PLTR - Free Report) ) have been the unequivocal leaders of the bull market over the last three years. They represent the best thematic opportunities in the market today, namely AI infrastructure and applied AI for governments and enterprises.

Palantir Technologies is that stock, the one that skeptics have doubted at every turn, only to continue climbing despite the naysayers. Nvidia, meanwhile, has ascended to become the largest and most important company in the world. Just today, Nvidia underscored that leadership by announcing a $100 billion new partnership with OpenAI.

The numbers are staggering. Palantir has skyrocketed more than 2,300% over the last three years, while Nvidia has surged over 1,300% in the same period. And the momentum hasn’t slowed, as both stocks remain in demand through 2025, rising again in the first nine months of this year despite already historic rallies.

Understandably, investors are asking the important question: has the run gone on too long? And is it too late for investors to buy the stock? Below, I’ll share a tactical trading perspective on each stock and examine where they stand technically, and how investors might think about positioning in these market leaders as they press toward record highs.

Zacks Investment Research
Image Source: Zacks Investment Research

Nvidia Stock Breaking out on OpenAI News

The AI boom proceeds unabated, and Nvidia continues to grow at an extraordinary pace even at its massive scale. Demand for GPUs hasn’t cooled after three years of explosive growth, and if anything, it appears ready to accelerate further as hyperscalers chase the promise of AGI.

Just this morning, OpenAI and Nvidia announced a landmark partnership to deploy at least 10 gigawatts of Nvidia systems powering OpenAI’s next-generation AI infrastructure, representing millions of GPUs. As part of the deal, Nvidia will progressively invest up to $100 billion as each gigawatt comes online, with the first deployment slated for the Vera Rubin platform in the second half of 2026.

The announcement comes at a pivotal moment. Nvidia stock has just broken out of a strong technical consolidation into new record territory, and if shares can hold above the $180 level, another powerful bull run appears imminent.

TradingView
Image Source: TradingView

Palantir Technologies Shares Continue Higher

Crypto traders, who typically trade the absurd momentum of tiny, highly volatile coins, often refer to “the meta” when looking for big trades. This doesn’t refer to Meta Platforms stock or the Metaverse, it refers to the thematic trends moving the market. What is the overarching idea that is driving current herding trends in the market, which is critical to crypto trading, but also trading broadly.

No stock better embodies the “meta” of this bull market than Palantir Technologies. AI adoption, rising geopolitical tensions, surging defense spending, a contrarian streak in leadership, and sheer momentum have all converged to make PLTR the ultimate thematic play.

Just a couple of weeks ago, I shared my tactical perspective on PLTR (here). Since then, the stock has followed that roadmap closely and now looks poised to notch another record high. Unless we see a significant broad-market pullback, Palantir appears set to keep climbing.

TradingView
Image Source: TradingView

Should Investors Buy Shares in NVDA and PLTR?

There’s no question that Nvidia and Palantir have been the defining stocks of this bull market, and their leadership shows little sign of fading. Both names are riding powerful secular tailwinds that continue to attract capital and attention.

That said, the challenge for investors is timing. After parabolic gains over the past three years and sharp rallies again in 2025, valuations leave little margin for error. Chasing breakouts in these stocks can certainly pay off tactically, but it also requires trading discipline, by defining clear risk levels and recognizing that volatility cuts both ways.

For long-term investors, the case for both companies remains strong. Nvidia sits at the very center of AI hardware and ecosystem development, while Palantir has carved out a unique niche applying AI to some of the most urgent problems facing governments and enterprises worldwide. For traders, the technical setups suggest more upside ahead, with Nvidia breaking out and Palantir pressing toward new highs.

In short, Nvidia and Palantir are still stocks you want exposure to, but position sizing and risk management are key. They may no longer be the hidden gems they once were, but their leadership roles in the AI era make them hard to ignore, even near record highs.


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