Nvidia Corp. made a significant impression on investors during its GTC conference, akin to a Taylor Swift moment, as Chief Executive Jensen Huang delivered a keynote that showcased the company’s dominance in artificial intelligence (AI) and its ongoing innovation efforts. While the keynote didn’t offer any groundbreaking surprises, it reaffirmed Nvidia’s position as a leader in AI technology and its commitment to advancing AI accessibility globally.
Analysts, including Cantor Fitzgerald’s C.J. Muse, noted the event’s affirmation of Nvidia’s current and future dominance in AI, highlighting the company’s innovative strides and efforts to democratize AI technology. Muse emphasized Nvidia’s potential to deliver significant value to investors, particularly with its just-revealed Blackwell chip architecture, which is expected to be a significant growth driver in 2025.
Similarly, Truist Securities analyst William Stein expressed confidence in Nvidia’s continued growth trajectory, citing the potential of Blackwell’s performance to drive demand and support elevated growth through at least 2025. Stein also praised Nvidia’s software partnerships and the launch of cloud-native microservices, which aim to fortify the company’s position in software and models within the developer community.
Overall, analysts remain optimistic about Nvidia’s future prospects, with expectations of sustained growth driven by its technological innovations and strategic initiatives.
Stein has a buy rating and a $1,177 target price on the stock.
The reception of Nvidia’s Blackwell chip architecture at its GTC conference has drawn significant praise from analysts, highlighting its ambitious nature and the company’s continued innovation in the AI space.
Rosenblatt Securities analyst Hans Mosesmann described Blackwell as “likely the most ambitious project Silicon Valley has ever witnessed,” suggesting strong demand for the chip well into 2025. He maintained a buy rating on Nvidia with a $1,400 target price.
Bernstein’s Stacy Rasgon, while acknowledging the difficulty of living up to the hype surrounding the conference, was impressed by Nvidia’s presentation. He emphasized the strength of Blackwell and Nvidia’s comprehensive approach to software and hardware ecosystems, rating the stock at outperform with a $1,000 price target.
Stifel’s Ruben Roy noted the significant improvement in inference performance with the new lineup compared to the H100, highlighting Nvidia’s competitive edge in longer-tailed inference workloads. He also pointed out the extensive list of announced customers for Blackwell, indicating strong adoption. Roy maintained a buy rating on Nvidia with a $910 target price.
JPMorgan’s Harlan Sur praised Nvidia’s aggressive product launch strategy and its ability to stay ahead of the competition. He reiterated an overweight rating on the stock with an $850 target price.