- OpenAI's strategic shift integrates Google AI chips, diversifying from Nvidia.
- Nvidia's stock is rated "Outperform" by analysts, with significant upside potential.
- GuruFocus estimates suggest a strong valuation growth for Nvidia Corp.
OpenAI, a prominent force in artificial intelligence, has been heavily dependent on Nvidia (NVDA, Financial) for its AI model computing needs. However, the company is now making strategic moves towards integrating Google AI chips into its operations. By embracing Google's tensor processing units via Google Cloud, OpenAI aims to diversify its supplier base. This shift not only helps mitigate risks associated with reliance on a single supplier but also potentially reduces operational costs for products like ChatGPT.
Wall Street Analysts Forecast
Wall Street analysts have provided insights into the future of Nvidia Corp (NVDA, Financial), projecting price targets that span a range of possibilities. According to data from 52 analysts, the one-year average target price for NVIDIA Corp (NVDA) is forecasted at $176.73. Price targets highlight a high estimate of $372.87 and a low of $100.00. This average target price suggests there is an upside potential of 12.03% from the current share price of $157.75. For additional details, visit the NVIDIA Corp (NVDA) Forecast page.
Nvidia Corp's (NVDA, Financial) prospects appear positive as the consensus recommendation from 65 brokerage firms positions it at an average brokerage recommendation of 1.8. This rating indicates an "Outperform" status, with the rating scale ranging from 1, representing a Strong Buy, to 5, signifying a Sell.
Further support for Nvidia's potential comes from GuruFocus estimates. The GF Value for NVIDIA Corp (NVDA, Financial) in one year is estimated at $274.32. This estimation points to a remarkable upside of 73.9% from the current price of $157.75. The GF Value reflects GuruFocus' calculation of the fair market value at which the stock should trade, derived from historical trading multiples, past business growth, and future performance forecasts. For a more comprehensive understanding, please refer to the NVIDIA Corp (NVDA) Summary page.
