Nvidia Set for Major Growth with Increased Data Center Spending and Expanding AI Demand, Analysts Say
Portfolio Pulse from Anusuya Lahiri
Nvidia is expected to see significant growth due to increased data center spending and expanding AI demand. Analysts from Wedbush, Piper Sandler, and Citi have reiterated positive ratings and high price targets for Nvidia, citing strong demand for its data center products and AI-related components. Hyperscale data center operators are increasing their capex budgets, which is a significant driver for Nvidia's growth. Analysts project robust revenue and EPS for the upcoming quarters.

May 16, 2024 | 4:40 pm
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Nvidia is expected to benefit significantly from increased data center spending and expanding AI demand. Analysts have reiterated positive ratings and high price targets, projecting strong revenue and EPS for the upcoming quarters.
Analysts from Wedbush, Piper Sandler, and Citi have reiterated positive ratings and high price targets for Nvidia, citing strong demand for its data center products and AI-related components. Hyperscale data center operators are increasing their capex budgets, which is a significant driver for Nvidia's growth. Analysts project robust revenue and EPS for the upcoming quarters.
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