Nvidia ( (NVDA) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Nvidia (NASDAQ:NVDA) is making waves in the AI industry, with CEO Jensen Huang’s ambitious predictions for the sector’s growth appearing increasingly accurate. Barclays analyst Tom O’Malley, initially skeptical of Huang’s forecast of a $1 trillion AI industry by the decade’s end, now sees over $2 trillion in planned AI spending. This surge is largely driven by increased demand for compute and networking, with Nvidia positioned to benefit significantly. O’Malley has assigned an Overweight rating to Nvidia shares, raising his price target from $200 to $240, suggesting a potential 36% gain over the next year.
In addition to Nvidia’s promising outlook, CoreWeave, an AI cloud provider backed by Nvidia, has expanded its partnership with OpenAI, signing a new $6.5 billion cloud services agreement. This deal is part of a series of high-profile collaborations that have rapidly increased CoreWeave’s presence in the AI infrastructure space. The company’s strategic moves, including a $6.3 billion hardware purchase agreement with Nvidia, highlight its role as a key player in the global race to build scalable AI infrastructure. Analysts have responded positively, raising price targets for CoreWeave stock, reflecting confidence in its growth potential.