Nvidia presentation sets stage for ‘revitalization,’ says Cantor Fitzgerald

Nvidia updated its Investor Presentation, adding new commentary around inference and how OpenAi’s o1 models “starts inference-time scaling law,” something Cantor Fitzgerald believes remains underappreciated by the Street, the analyst tells investors in a research note. The firm, which reiterates an Overweight rating and $175 price target on the name and says Nvidia remains its Top Pick, says these new models are introducing chain-of-thought reasoning, which will drive a significant increase in compute requirements as inference compute will now scale exponentially to drive greater accuracy. In addition, Nvidia noted the “Blackwell” platform is in “full production,” setting the stage for a “revitalization” of the Nvidia trade over the coming months, Cantor says.