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What you need to know
- The artificial intelligence chip maker Nvidia has had a record year, with sales reaching new highs.
- The demand for Nvidia chips continues to exceed supply, and most analysts predict that the market will continue to rise.
- Citi analysts predicted that the next major boost in the stock could be next month. CEO Jensen Huang is scheduled to give a keynote speech at the Consumer Electronics Show, which will take place in January.
The stock of artificial intelligence darling Nvidia (NVDA), which is currently on a roll, could continue to grow for a long time.
Analysts remain bullish about the stock despite recent falls that have brought it into correction territory. They expect further gains, as the demand for AI chips from the company continues to exceed supply.
“The age of AI is upon us, and it’s large and diverse,” Nvidia CEO Jensen Huang said to investors in a recent investor meeting that the company would benefit from increased computing power. “exponentially.”
Nvidia is a stock that analysts are bullishly predicting will rise. Visible Alpha tracks 21 analysts who cover the company. All but one hold an optimistic view. “buy” The average price target is $177, which implies a 31% increase from the closing price on Friday of $134.70.
Nvidia’s stock and sales are at record levels
The booming demand for AI has sent Nvidia stock prices and sales to new highs in 2018. Shares will more than double in value by 2024. This has pushed the company’s value into rich territory. Nvidia is one of three companies with market capitalizations exceeding $3 trillion.
The company announced last month that its quarterly revenue had reached an all time high of $35 billion during the third fiscal quarter. Data-center revenues more than doubled from year to year, reaching a new record amount of $30.8 billion.
In the company’s earnings call executives claimed to have seen “staggering” Blackwell AI, which Jensen Huang is the CEO has been called by many as the next generation of AI. “a complete game changer for the industry.”
Morgan Stanley’s analysts described Nvidia as a “disaster” in a note they sent to their clients at the end of December. “top pick,” Writing that they expect the chipmaker will maintain its AI leader in near-term, citing their research and development budgets and strong relationships between major cloud providers.
The January keynote by CEO Jensen Huang could be a catalyst
Citi said that next month could bring a big boost to the company’s stock, as CEO Jensen Huang will deliver a key note address at Consumer Electronics Show.
Citi analysts believe Huang will announce that Blackwell’s sales are expected to increase at this event. They also expect Huang highlight the growth potential of robotics in industries and enterprises. Nvidia could also make product announcements and unveil new graphic cards.
Goldman Sachs analysts also pointed out Nvidia’s annual GPU Technology Conference (GTC), which will be held in March. Nvidia announced new partnerships, unveiled its Blackwell platform and much more at this year’s GTC. The fiscal fourth-quarter report will be published in February.
Huang previously stated that his company intends to release one new chip family each year. In the near future, the manufacturer is expected to give more information on Blackwell’s replacement, Rubin. Its release date, 2026, has been set.
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