As NVIDIA Corporation (NASDAQ:) hosts GTC, the global artificial intelligence developer conference, analysts from across the spectrum provided comments after CEO Jensen Huang’s keynote and answered analyst questions.
An analyst from KeyBanc Capital Markets said in a note that their key findings include the company’s announcement of its next generation RTX 40 gaming GPUs, Omniverse and progress in continuous revenue growth, with the Hopper H100 fully launched, the announcement of the re-engineering of its Atlan’s next-generation automotive platform, and the company said Orin has 40 automotive design wins.
“Orin has won 40 automotive design contracts totaling $11 billion. Management remains confident that the game tends to return to $2.5 billion by the first quarter, citing the fact that the company has spent the last few quarters studied the channel and dismissed concerns about flooding the market with cryptocurrency cards, citing strong enthusiast demand for the RTX 40,” the analyst wrote, adding that KeyBanc’s rating remains overweight and recommends investors buy NVDA.
An Oppenheimer analyst, who has an Outperform rating on Nvidia, said, “Founder and CEO Jensen Huang’s keynote today focused on NVDA’s vast hardware, accelerated computing, Omniverse, and enterprise AI platform.”
“We believe there is no risk in the game, although mixed business data poses a potential risk for DC. We view the current headwinds as temporary and believe that NVDA’s AI-focused structural growth thesis remains valid.
Meanwhile, an analyst at Morgan Stanley, which has an Equal-Weight rating and a $182 share price target, said they “have seen a tailwind in prices for the gaming business, as well as a growing software and services business.” this will provide customers with a comprehensive offering for artificial intelligence, simulation development, and industrial automation programming.”
“The biggest takeaway for us is the higher price of gaming GPUs, which reinforces our faith in the pace of gaming revenue recovery next year,” the analyst said. “To be clear, we would have a position here and see the stock as a major holding, especially after the recent sell-off, but given the historic multiple cuts during times of uncertainty in the data center, we are leaving room to add to these positions. any weakness in the coming months.”
Finally, an analyst at Rosenblatt Securities, who has a buy rating on Nvidia, said GTC’s keynote was strong, as expected.
“The fall edition of the Nvidia GPU Technology Conference, or GTC, was, as expected, filled with product announcements in the areas of chips, software, applications, and systems for everything AI-related. We’re not exaggerating that Nvidia is now into AI. , because in terms of the depth of knowledge, investment and innovation, the company is years ahead of everyone else,” the analyst writes.