Goldman Sachs has initiated coverage on Nvidia (NVDA, Financial), assigning a "buy" rating and setting a target price of $185. This comes shortly after the chipmaker's market capitalization briefly surpassed the $4 trillion mark. Analyst James Schneider emphasized Nvidia's leadership in accelerated computing, highlighting its CUDA software as a foundational tool for developers building AI applications.
Schneider noted Nvidia's expanding customer base, which includes cloud service providers, healthcare companies, and robotics firms, driving sustained demand for its next-generation GPU products. He praised Nvidia's rapid pace of product releases and contrasted it with competitors still developing their AI platforms. Despite recent stock price increases, Schneider believes Nvidia's valuation remains attractive and predicts continued strong performance over the next 12 months.
Investors are closely watching whether this bullish rating will help Nvidia's stock reach new heights amid fierce competition and the rapidly evolving AI landscape.
