Nvidia’s (NVDA) shares are seeing an upswing following an optimistic move by Bank of America analysts, who raised the chipmaker’s price target from $700 to $800 per share. The analysts, maintaining a Buy rating, anticipate Nvidia to outperform current expectations in its upcoming earnings report scheduled for February 21.
Bank of America underscores Nvidia’s supremacy in AI inference within its chips, expecting the company to maintain a robust 90% share in training and achieve a significant 50% share in inference. While acknowledging a potentially smaller upside surprise in the upcoming results compared to past quarters, the analysts view this measured pace as a positive factor, fostering an environment conducive to sustained growth.
The news has prompted Nvidia’s shares to surge by almost 5%, with the company already holding a substantial market share in cutting-edge technologies. As Nvidia continues to play a pivotal role in the sector, investors and analysts are optimistic about its ongoing dominance and growth in the field of artificial intelligence.
