Nvidia (NVDA, Financial) remains in the news on Thursday as Morgan Stanley expressed a more bullish view on the company's trajectory following an analyst Q&A at its GTC event. Morgan Stanley analyst Joseph Moore highlighted that management's energy for the Blackwell phase was “notable,” despite cautious market sentiment.
During his keynote, Nvidia CEO Jensen Huang stated that major cloud providers, Amazon Web Services, Azure, Google Cloud Platform, and Oracle Cloud, have placed orders for 3.6 million Blackwell GPUs for 2025, a jump from 1.3 million Hopper GPUs in 2024.
Moore explained that sharing these figures aimed to refocus the narrative on strong demand, addressing concerns over shifting Open AI spending and ASIC pressures. He noted that cloud capital expenditures should remain robust through 2025, with IT spending and AI investments driving growth in coming years.
Furthermore, Moore reiterated his Overweight rating and a $162 price target on Nvidia, while management outlined plans to meet increasing inferencing demands at scale, underscoring confidence in Nvidia's long-term prospects. Investors remain optimistic about growth.
