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An investor famous for betting against the housing market before it collapsed now has his sights on companies at the forefront of the AI boom.
Despite its hefty market cap, Nvidia still trades at a reasonable forward P/E ratio, just 45 times full-year earnings estimates. Wall Street analysts currently anticipate Nvidia's earnings growing by an average of almost 33% annually over the next three to five years. That is plenty of growth to justify owning the stock at these levels.
Nvidia CEO Jensen Huang has projected that AI infrastructure spending will reach $3 trillion to $4 trillion by the end of the decade. After a slate of multiyear, multi-gigawatt deals between OpenAI with AMD,
Among the 64 sell-side analysts that cover Nvidia, 59 have a "buy" or equivalent rating on Nvidia stock. After analyzing the various catalysts above, it's easy to see why so many on Wall Street see Nvidia as a no-brainer opportunity.
Nvidia (NASDAQ:NVDA) traded higher on Monday after several Wall Street banks boosted their expectations for the chipmaker, citing strengthening demand for its latest artificial intelligence processors.
Analysts raise targets to $350 as orders hit $500B. Amazon secures GPUs for OpenAI in $38B deal. UAE export approved.
Nvidia (NASDAQ: NVDA) has been one of the best artificial intelligence (AI) stocks to own since the AI arms race kicked off in 2023. Its technology has powered most of the AI we experience today, and that's unlikely to change much in the future.
US stocks finished the first trading day of November mixed, with Big Tech names like Amazon (AMZN) and Nvidia (NVDA) rising near record-high levels, fueling a continued rally in the AI trade even as those gains weren't broadly distributed.
Nvidia stock was rising despite President Donald Trump signaling the U.S. will continue to curb exports of the company’s chips to Chinese customers.
We're still in the early innings of deploying large-scale computing power, which is why orders keep coming in for Nvidia's GPUs. This is why Nvidia's $500 billion in orders for its computing systems is a huge deal, as it represents a significant uptick in growth.
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