Nvidia stock hits an all-time high on new AI bullishness from Wall Street analysts
Nvidia stock reached a record high of $227.84 on Wall Street optimism about AI growth, with analysts like Bank of America and Wells Fargo raising price targets to $320 and $315 respectively. The company’s market capitalization surpassed $5.5 trillion amid bullish expectations for AI data center demand and upcoming earnings on May 20.
Nvidia’s stock hit an all-time high of $227.84 on Wednesday, surging as much as 3% before closing at $225.83, pushing its market value above $5.5 trillion. Analysts from Wall Street firms, including Bank of America and Wells Fargo, raised their price targets for the company, reflecting strong confidence in AI-driven growth. Bank of America increased its price target to $320 from $300, citing expectations for the AI data center market to reach $1.7 trillion by 2030. The firm highlighted upcoming catalysts like Nvidia’s earnings report on May 20, the Computex tradeshow, and new product launches like Vera Rubin. Wells Fargo also boosted its target to $315 from $265, suggesting a 38% upside potential. The analysts noted Nvidia’s shift from a hardware supplier to a large-scale AI infrastructure provider, despite concerns about peak share margins. The stock’s rally comes as Nvidia’s CEO, Jensen Huang, is part of a U.S. delegation attending the U.S.-China summit in Beijing. The company’s strong performance aligns with broader optimism in the AI sector, particularly ahead of its fiscal first-quarter earnings report next week.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.