May 29 – Nvidia's (NVDA, Financial) upbeat quarterly results and guidance drew positive reactions from analysts on Wednesday, who pointed to rising global demand for AI chips despite headwinds from China.
Wedbush's Dan Ives described the performance as “robust” and said demand signals remain strong, even with export restrictions to China. Ives noted recent deals in the Middle East, including from Saudi Arabia and the UAE, as signs of growing interest from governments in AI infrastructure.
Morgan Stanley's Joseph Moore said Nvidia's report helped ease concerns over slowing momentum, especially with signs of growth in all markets except China. He raised his price target to $170 from $160 and reaffirmed an Overweight rating.
Jefferies analyst Blayne Curtis said earlier worries about supply mismatches have faded, with hyperscalers now deploying Nvidia's NVL72 systems at scale. He added that networking and gaming segments showed healthy recovery.
Bank of America's Vivek Arya lifted his price target to $180 and said Nvidia's earnings potential could reach $10 per share as sovereign demand picks up.
J.P. Morgan's Harlan Sur said the results reinforce Nvidia's position as a leader in the AI chip market.
