"Nvidia ( NASDAQ:NVDA | NVDA Price Prediction) stock has been stuck in neutral since last August, trading in a fairly narrow range around $180 per share as questions about artificial intelligence (AI) spending fester. Despite blowout quarterly numbers and expectations that hyperscalers could spend as much as $700 billion in capex this year on AI - much of it likely going to Nvidia for its latest accelerators like Blackwell - the stock has gone nowhere."
"Nvidia reported fiscal third-quarter results in November showing revenue reached a record $57 billion, up 22% sequentially and 62% year-over-year. Data Center revenue - the primary AI driver - hit $51.2 billion, rising 25% from the prior quarter and 66% from a year earlier. Management guided fourth-quarter revenue to $65 billion, plus or minus 2%. The AI chipmaker has grown exponentially over the past few years, with revenue surging from earlier bases"
Nvidia's stock has traded around $180 per share since last August amid uncertainty over AI spending despite strong fundamentals. Hyperscalers could spend up to $700 billion in capex this year on AI, much of which is expected to flow to Nvidia's accelerators such as Blackwell. Fiscal Q3 revenue reached a record $57 billion, with Data Center revenue at $51.2 billion and guidance for about $65 billion in Q4. Persistent GPU demand for training and inference, plus Nvidia's full-stack ecosystem including CUDA and model-builder partnerships, continues to drive rapid expansion, and Goldman Sachs sees potential upside to roughly $67 billion.
Read at 24/7 Wall St.
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