RBC Capital analyst Srini Pajjuri initiated coverage of Nvidia (NVDA) with an Outperform rating and $240 price target. The firm sees “limited threat” to Nvidia’s full-stack AI dominance, despite the recent progress by ASICs and AMD (AMD), the analyst tells investors. The firm expects any hyperscaler capex spending slowdown to be gradual and believes that valuation is already discounting a potential slowdown to an extent, adding that it has higher conviction in Nvidia’s order book that that of peers.
Claim 55% Off TipRanks
New trading tool for NVDA bearsPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVDA:
- OpenAI Signs $10B Deal with Chip Startup Cerebras for More Computing Power
- OpenAI partnering with Cerebras to add 750MW of AI compute to platform
- OpenAI in over $10B computing partnership with Cerebras, WSJ says
- “Apple Went In”: Intel Stock (NASDAQ:INTC) Gains as Trump Spills Beans on Apple Investment
- AI Daily: U.S. to review Nvidia, AMD chip exports case by case