Citi analyst Atif Malik raised the firm’s price target on Nvidia (NVDA) to $190 from $180 and keeps a Buy rating on the shares. The firm cites the company’s artificial intelligence total addressable market expansion for the target increase. Citi now assumes the addressable market in 2028 for data center semis AI to reach $563B, 13% above its prior expectation of $500B. The increase is driven in part to higher than expected sovereign AI demand, the analyst tells investors in a research note.
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