Nvidia: BofA still a buyer, targets $1100

(CercleFinance.com) - Bank of America on Tuesday maintained its Buy recommendation on Nvidia shares, with a target price of $1100 (cp: $894, +1%), the day after the first announcements made at the GTC conference for AI developers.


While mentioning presentations in line with expectations, BofA says it is particularly interested in the launch of the new Blackwell 'superchip', whose performance exceeds that of the previous architecture, Hopper, by up to 30 times, by promoting the development of large language models (LLMs) based on trillions of parameters.

The analyst notes that no release date has yet been communicated, but declares that he expects all the giants of 'tech' and accelerated computing such as Microsoft (Azure), Amazon (AWS), Google (GCP) and Oracle (OCI) to adopt the platform when it comes to market, expected by the end of the year.

From a professional point of view, the GTC meeting confirmed Nvidia's ability to open the doors to new markets likely to be worth trillions of dollars.

More generally, BofA emphasizes that the chipmaker is consolidating its dominance in the AI segment by offering not only hardware, but also software and services.


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