Nvidia: Trillion-Dollar Revenue Ambition, Expanding AI Inference Strategy, and Advanced Rack Architectures Underpin Buy Rating and $240 Target

Needham analyst Quinn Bolton maintained a Buy rating on Nvidia today and set a price target of $240.00.

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Quinn Bolton has given his Buy rating due to a combination of factors tied to Nvidia’s long‑term growth trajectory and product roadmap. He highlights that Nvidia’s newly articulated goal of surpassing $1 trillion in revenue by calendar 2027 is underpinned by robust demand visibility, driven primarily by the Blackwell and Rubin platforms while still excluding several future product contributions.

He also points to Nvidia’s expanded strategy in AI inference through Groq, where selling Groq chips alongside Vera Rubin racks should position the company to capture large, agentic inference workloads as LP30 volumes ramp. Additionally, Bolton underscores that forthcoming rack architectures, which will blend copper and co‑packaged optics connectivity, support his valuation framework that uses a roughly 25x P/E multiple on his FY28/CY27 EPS estimate and yields a $240 price target, justifying the Buy rating.

In another report released today, Wells Fargo also assigned a Buy rating to the stock with a $265.00 price target.