Nvidia '1-2 Steps Ahead of Competitors' After Blackwell GPU Reveal At GTC 2024, Analyst Says
Portfolio Pulse from Surbhi Jain
At GTC 2024, Nvidia Corp (NASDAQ:NVDA) unveiled its next-generation Blackwell GPU and B200 chipset, showcasing significant advancements in AI, data center acceleration, and networking infrastructure. Despite these announcements, NVDA's stock saw a modest increase of 0.70% on the day, with a 1.42% dip in post-market trading. JPMorgan analyst Harlan Sur reiterated an Overweight rating on NVDA, with a price target of $850, highlighting Nvidia's strong positioning in AI, high-performance computing, gaming, and autonomous vehicles. Sur emphasized Nvidia's technological leadership and expansion into the humanoid robots market, maintaining a positive investment outlook.
March 19, 2024 | 12:15 pm
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Nvidia revealed significant advancements at GTC 2024, including the Blackwell GPU and B200 chipset, aimed at enhancing AI and data center capabilities. Despite these innovations, the stock experienced a slight increase followed by a post-market dip. JPMorgan analyst Harlan Sur maintains a positive outlook with an Overweight rating and a $850 price target.
The unveiling of Nvidia's next-generation technologies at GTC 2024, including the Blackwell GPU and B200 chipset, underscores the company's technological edge and growth potential in AI and data center acceleration. Despite the stock's modest performance post-announcement, the positive analyst rating and ambitious price target from JPMorgan suggest a bullish outlook for Nvidia in the short term. The advancements in technology and strategic partnerships are likely to bolster investor confidence and drive stock performance.
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