- Oppenheimer analyst Patrick Scholes maintains Nvidia Corp (NASDAQ:NVDA) with an Outperform rating, raising the price target from $300 to $350.
- The chipmaker reports its quarterly results on May 24. Scholes saw an upside to print and outlook.
- Nvidia’s Data Center Products will likely go up through the year as cloud vendors scale-out AI infrastructure. ChatGPT has sparked a sense of urgency some call “AI’s iPhone moment.” AI models continue to grow and proliferate.
- The company’s complete stack hardware and software platform remains the cornerstone of an expanding AI ecosystem.
- Nvidia’s A100 and H100 accelerators enjoy a dominant training share as they increasingly penetrate inference workloads.
- Grace (ARM CPU) and Bluefield (DPU) round out NVDA’s AI hardware line-up.
- Gaming channel inventory has normalized and is ready for accelerated growth into the second half.
- Nvidia’s AI-led structural growth thesis is intact, deems the analyst.
- DC, high-performance gaming, and auto are triple players for sustained growth.
- As per the analyst, the chipmaker remains a best-in-class play on AI adoption.
- Sustained structural growth led by DC AI as cloud accelerator attach picks up (could hit 40– 50% within five years, from 20% today).
- The analyst remains a long-term buyer.
- Price Action: NVDA shares traded higher by 3.59% at $312.56 on the last check Thursday.
Cryptocurrency Maker Rises More Than 6% In 24 hours
Over the past 24 hours, Maker's (CRYPTO: MKR) price has risen 6.2% to $3,971.59. This continues its positive trend over the past week where it has experienced a 10.0% gain, moving from $3,545.57 to its current price.
