NVIDIA (NASDAQ:NVDA) shares are inching higher in the pre-market session today after the European Commission clarified that antitrust regulators have not initiated an investigation into the chipmaker’s AI chips, according to Reuters.
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The development comes after French authorities raided NVIDIA offices over anti-competitive practices last week. As AI gains center stage, the French authorities fear that larger cloud computing players could abuse their might to edge out smaller peers.
Meanwhile, after losing its footing in recent times, Intel (NASDAQ:INTC) may be on the cusp of a rebound. The company is setting up a new chip facility in Ireland. Besides Ireland, Intel has a plant in Germany and is planning an assembling facility in Poland.
NVIDIA, though, remains highly sought after the world over. Last week, the company teamed up with the Indian conglomerate Reliance Industries to develop foundation large language models trained on the country’s multitude of languages and set up an AI infrastructure that surpasses the country’s fastest supercomputer.
Is NVDA Stock Expected to Go Up?
Overall, the Street has a consensus price target of $639.82 for NVIDIA, along with a Strong Buy consensus rating. This points to a mouth-watering 47% potential upside in the stock.
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