After Nvidia unveiled the all-new Blackwell architecture artificial intelligence GPU chip B200 at the GTC 2024 conference, the bullish sentiment of many investment banks on Wall Street was also ignited.
Investment banks led by Goldman Sachs and Wells Fargo have further raised their target prices for Nvidia, emphasizing that Nvidia's new products have further widened its gap with competitors.
Wall Street is raising target prices one after another
On Wednesday Eastern Time, Goldman Sachs analyst Toshiya Hari raised Nvidia's target stock price by $125 to $1000 per share. He expressed that he was once again pleased to see Nvidia's ambition in artificial intelligence from Huang Renxun's speech.
Harry reiterated Goldman Sachs' firm position as a "buy in" for Nvidia, citing its "unique innovation capabilities in data center scale" and being a key driver and beneficiary of generative artificial intelligence infrastructure construction.
Meanwhile, Rosenblatt Securities analyst Hans Mossman also described the launch of the Blackwell series of products as "possibly the most ambitious project in Silicon Valley history.".
Aaron Rex, an analyst at Wells Fargo, pointed out that Huang Renxun's speech emphasized the company's innovation and commercial monetization capabilities. He raised Nvidia's target stock price by $130 to $970 per share and reiterated his overweight rating.
Susquehanna analyst Christopher Roland also believes that Blackwell's release consolidates Nvidia's leadership position in the field of artificial intelligence. He raised Nvidia's target price by $200 to $1050 per share.
Nvidia further widens the gap with its competitors
Analysts believe that Nvidia's new chips may potentially change the potential of artificial intelligence models and reasoning, while further enhancing Nvidia's advantage over its chip manufacturer competitors.
Bernstein analyst Stacy Rasgon rated Nvidia's stock as a buy with a target price of $1000. He said, "Blackwell seems likely to perform strongly, and the company's sustained push not only in the chip field, but also in the broader software and hardware ecosystem is still unparalleled. In our view, it is difficult to defeat."
Baird analyst Tristan Gerra said,& Quota; The significant improvement in performance means that Blackwell may trigger strong refresh rates, while making competition for ASIC architectures extremely difficult& Amp; Quota;
"We have heard that the pricing of B100 will be nearly 40% higher than H100, which is a key catalyst for Nvidia's revenue growth next year." Tristan Gerra's target price for Nvidia's stock is $1050, rated as overweight.
Morgan Stanley analyst Joseph Moore maintains Nvidia's overweight rating, but the target price remains unchanged at $795. He also agrees that the release of the Blackwell series of products has widened the distance between this technology giant and its chip manufacturing competitors.
Moore's team wrote, "Although there were no major surprises at the GTC conference, the performance of the Blackwell series will once again improve the benchmark."