After Nvidia (NVDA) reported 澳洲幸运5官方开奖结果体彩网:record quarterly revenue driven by gains in its data center sales and raised expectations for its Blackwell 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) chips, 🧸several analysts boosted t😼heir price targets for the chipmaker's stock.

Wedbush analysts lifted their price target to $175 from $160, implying about 19% upside from Thursday's closing price, pointing to strong demand for Nvidia's AI chips and signs production of its next-generation Blackwell chip is “ramping at least as fast as expected.”

On the company’s earnings call, CEO Jensen Huang said Nvidia is on track to ship 澳ꦉ洲幸运5官方开奖结果体彩网:more Blackwell chips than previously anticipated in the current quarter, which runs through January. Analysts at Mizuho raised their price target to $175 from $165 after the call, projecting up to $5 billion in Blackwell revenue in the period.

Citi analysts bumped their price objective to $175 from $170, and Goldman Sachs hiked its target to $165 from $150, anticipating gains from “growing demand for AI infrastructure across all customer groups.”

Nvidia also appeared to dismiss worries surrounding reported Blackwell 澳洲幸运5官方开奖结果体彩网:issues with overheating꧂, which “should alleviate any lingering investor concerns around Blackwell ex🧸ecution,” Wedbush analysts wrote. 

Shares of Nvidia wavered between gains and losses in Thursday's session, and briefly climbed to an intraday record before closing 0.5% higher at $146.67. The stock has nearly tripled in value since the start of the year.

Nvidia GPUs Could Drive Higher Spending Across Tech Sector, Wedbu🐬sh Says

Wedbush analysts also suggested Nvidia could be poised to lead a tech rally into year-end and 2025 after its strong results, with a ripple effect from spending on its chips that could boost the broader tech industry. The analysts estimated that every $1 spent on an Nvidia GPU could have an $8 to $10 multiplier effect across the tech sector.

UPDATE—Nov. 21, 2024: This article has been updated to include additional analyst comments and reflect more recent share price values.