Nvidia price target raised to $300 from $265 at Bernstein

Bernstein raised the firm’s price target on Nvidia to $300 from $265 and keeps an Outperform rating on the shares. Discussing the opportunity for LLM training, the firm notes that LLM training TAM does not appear all that big today — quite a bit smaller than LLM inference as training does not scale the same. But models are getting bigger, and "we are early on the adoption curve," Bernstein says. Over time, the firm believes the TAM could potentially reach into the billions as model complexity grows and adoption widens.