:max_bytes(150000):strip_icc()/MarketBlogImage-final-6ac06c7b9250446a8e86c566b11e02e1.png?w=1068&resize=1068,0&ssl=1 "US Stocks Rise Following Federal Reserve Chair Powell’s Comments on Economy and Interest Rates")
Nvidia Continues Rising on Optimism About Blackwell Demand
Nvidia (NVDA) shares are on the rise once again, fueled by optimism surrounding the demand for Nvidia’s upcoming Blackwell platform to power artificial intelligence (AI). KeyBanc analysts recently raised their price target for the stock, citing better-than-expected demand for the AI chipmaker’s new platform.
The stock saw a nearly 2% increase, building on earlier gains following bullish calls from UBS and Wolfe Research. KeyBanc analysts increased their price target for Nvidia to $180 from $130, representing a more than 40% upside from the stock’s closing price on Monday. They also maintained their “overweight” rating for the stock.
Investors are showing confidence in Nvidia’s potential in the AI market, driving the stock higher as anticipation grows for the release of the Blackwell platform. With increasing demand for AI technologies, Nvidia is well-positioned to capitalize on this trend and continue its upward trajectory in the market.
– Naomi Buchanan
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