Shares of Nvidia are trading higher following a report suggesting the company is preparing a version of its AI chips for the Chinese market. Additionally, Piper Sandler maintained an Overweight rating and raised its price target from $120 to $140.
Portfolio Pulse from Benzinga Newsdesk
Shares of Nvidia are trading higher following a report suggesting the company is preparing a version of its AI chips for the Chinese market. Additionally, Piper Sandler maintained an Overweight rating and raised its price target from $120 to $140.
July 22, 2024 | 1:19 pm
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Nvidia shares are trading higher due to a report on the company's plans to release AI chips for the Chinese market. Piper Sandler also maintained an Overweight rating and increased the price target from $120 to $140.
The news of Nvidia preparing AI chips for the Chinese market indicates potential revenue growth from a large market. Additionally, Piper Sandler's maintained Overweight rating and increased price target provide a positive outlook, likely boosting investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100