HSBC analyst Frank Lee raised the firm’s price target on Nvidia to $1,050 from $880 and keeps a Buy rating on the shares. The analyst is encouraged by Nvidia’s artificial intelligence product roadmap which focuses on moving beyond GPUs and towards owning the entire value chain. This will take shape next year given the comapny’s GB200 AI platform will incorporate both Grace Hopper CPU and B200 AI GPU, implying Nvidia is using its own in-house CPUs for the first time, the analyst tells investors in a research note. HSBC believes this will enable Nvidia to capture further significant pricing power.
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