Nvidia CEO Jensen Huang will deliver a keynote address at a major consumer electronics show on Monday, highlighting the company’s growing demand for AI chips. Analysts expect Nvidia to raise sales expectations for its Blackwell GPUs, which power generative artificial intelligence processes such as large language models.
Many analysts, including those from Morgan Stanley, Bank of America, and Bernstein, have upgraded Nvidia to a “top pick” due to the company’s strong performance in 2024. The consensus price target is around $177, representing a 28% premium over Nvidia’s intraday Thursday level.
Nvidia’s Blackwell GPUs are seen as a key driver of growth for the company, with analysts citing “insane” demand from customers such as Microsoft and Meta Platforms. The event at CES comes after Nvidia’s stock surged about 170% in 2024, driven by Big Tech companies investing heavily in AI data-center and cloud computing infrastructure.
Huang is expected to discuss a potential demand inflection in artificial intelligence robotics and may unveil new products, including Rubin, a successor to Blackwell chips. The event is seen as a significant catalyst for Nvidia’s growth, despite the company’s shares experiencing a correction last month.
Source: https://www.investopedia.com/what-analysts-think-of-nvidia-stock-ahead-of-ceo-jensen-huang-s-ces-keynote-8768126