Following Nvidia CEO Jensen Huang’s GTC keynote, Evercore ISI analyst C.J. Muse said the firm’s primary takeaway from the event is that Nvidia is seeing accelerating demand for its solutions, driven by the rapid expansion of generative AI and increasing criticality of power efficiency in the data center. The event thus far has gone "largely as expected" and primarily served to increase confidence in Nvidia’s positioning as "the arm’s dealer and enabler of AI adoption across every industry," said the firm, adding that generative AI is marking an inflection point for AI and Nvidia "remains king" in the AI space. The firm reiterates its Outperform rating, $300 price target and "Top Pick" designation on Nvidia.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on NVDA:
- Nvidia Jumps after Receiving Analyst Praise from GTC Conference
- Nvidia Stock: GTC Confirms the AI Opportunity, but the Goodness Is Priced in, Says Deutsche Bank
- Nvidia price target raised to $300 from $260 at TD Cowen
- Nvidia price target raised to $320 from $275 at Wells Fargo
- Nvidia price target raised to $290 from $230 at Mizuho