Nvidia, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Atif Malik from Citi maintained a Buy rating on the stock and has a $200.00 price target.
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Atif Malik has given his Buy rating due to a combination of factors surrounding Nvidia’s strategic initiatives and partnerships. A key factor is Nvidia’s announcement of a significant investment in OpenAI, where they plan to deploy at least 10 gigawatts of Nvidia systems to support OpenAI’s next generation models. This partnership is expected to enhance Nvidia’s position in the AI ecosystem, particularly in the GPU market, which is crucial as the industry debates between GPU and XPU technologies.
Furthermore, the planned investment of up to $100 billion, to be rolled out in phases starting in the second half of 2026, underscores Nvidia’s commitment to advancing AI capabilities. The collaboration with OpenAI is seen as a positive move that could influence the spending patterns in the AI sector, benefiting Nvidia’s growth prospects. This strategic alignment with a key player like OpenAI is a significant reason for Malik’s optimistic outlook on Nvidia’s stock.
In another report released today, Bernstein also maintained a Buy rating on the stock with a $225.00 price target.
Based on the recent corporate insider activity of 117 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVDA in relation to earlier this year.