Nvidia’s stock could fly to $550 amid ‘robust demand’ across the board in AI, analyst says
Nvidia Corp. is benefiting from “robust demand” for artificial-intelligence servers across the board, and that could help extend the stock’s stunning rally, according to KeyBanc Capital Markets.
Shares... Nvidia Corp. is benefiting from “robust demand” for artificial-intelligence servers across the board, and that could help extend the stock’s stunning rally, according to KeyBanc Capital Markets. Vinh’s heightened optimism about Nvidia’s prospects comes after he conducted channel checks in Asia. Those indicated strong interest in AI servers that are “not only coming from cloud but also enterprise and from AI startups,” he wrote in a note to clients.
“Delays associated with AMD’s MI300 are likely to free up incremental capacity in 2H23, while we believe NVDA has secured enough capacity to quadruple its datacenter revenues in 2024,” Vinh wrote, referring to chip-on-wafer-on-substrate, a type of packaging.That said, Vinh also boosted his price target on shares of AMD, despite more “mixed” channel checks there, compared with the “positive” ones for Nvidia.
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