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HomeBusinessRosenblatt Maintains its Street High $1,100 Price Target For NVIDIA

Rosenblatt Maintains its Street High $1,100 Price Target For NVIDIA

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Rosenblatt analysts reaffirmed their Buy rating for NVIDIA (NASDAQ:NVDA), maintaining their ‘Street High’ price target of $1,100.00 following the company’s recent financial results that surpassed expectations.
The analysts pointed out that NVIDIA has consistently achieved outstanding results, with this being the third such instance, driven by general AI and accelerated compute trends. Despite challenges in China, where AI business constitutes 20% to 25% of Data Center revenue and faces new U.S. export restrictions, NVIDIA’s revenue from other regions is compensating for this loss.
The analysts highlighted several key areas of growth for NVIDIA. The Hopper generation of GPUs, along with the Grace Hopper superchip, is expected to become a multi-billion dollar business by 2024. In the networking sector, NVIDIA’s Bluefield DPU, Spectrum switches, and Ethernet solutions for enterprise, along with Infiniband for AI, are projected to reach $10 billion in sales. Furthermore, the Software and Services division, which includes the new AI Foundry initiative, has achieved a $1 billion annual run rate.

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