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NVIDIA has been raking in lots of cash this year and hit a major milestone back in late May, with a trillion dollar valuation—its stock price doubled thanks to upward trends in the artificial intelligence market, with growing global demand for AI-hardware. Business Insider believes that Team Green will continue to do very well for itself over the next couple of years: "Mizuho analyst Vijay Rakesh has given NVIDIA's stock price another 20% upside to run—and even this new target of $530 is "conservative," according to a Sunday client note seen by Insider. Rakesh's previous price target for NVIDIA was $400. NVIDIA shares closed 0.7% higher at $446.12 apiece on Monday. The stock has surged 205% so far this year."
Despite the emergence of competing hardware from the likes of AMD and Intel, Rakesh predicts that NVIDIA will maintain a dominant position in the AI chip market until at least 2027: "With demand for generative AI accelerating, we see significant opportunities for hardware suppliers powering the higher compute needs for large-language models, particularly AI powerhouse NVIDIA. Insider reports that the company: "could generate around $300 billion in AI-specific revenue by 2027 with a 75% market share of AI server units...That's 10 times his projection of $25 billion to $30 billion in AI revenues this year." Rakesh has reportedly stuck with a $140 buy rating and price target for AMD shares.
View at TechPowerUp Main Site | Source
Despite the emergence of competing hardware from the likes of AMD and Intel, Rakesh predicts that NVIDIA will maintain a dominant position in the AI chip market until at least 2027: "With demand for generative AI accelerating, we see significant opportunities for hardware suppliers powering the higher compute needs for large-language models, particularly AI powerhouse NVIDIA. Insider reports that the company: "could generate around $300 billion in AI-specific revenue by 2027 with a 75% market share of AI server units...That's 10 times his projection of $25 billion to $30 billion in AI revenues this year." Rakesh has reportedly stuck with a $140 buy rating and price target for AMD shares.
View at TechPowerUp Main Site | Source
