Benzinga - Nvidia Corp.’s (NASDAQ: NVDA) CEO Jensen Huang, on Tuesday. presented the keynote address at the company’s 2023 GTC conference. An Nvidia bull came away from the event with increased conviction.
The Nvidia Analyst: KeyBanc Capital Markets analyst John Vinh maintained his Overweight rating and $280 price target for Nvidia shares.
The Nvidia Thesis: “We walked away from the event with increased confidence in NVDA’s unique position in semis to best monetize AI across all fronts including hardware, software, service and systems,” analyst Vinh said.
Vinh also recommended owning Nvidia shares.
Among the key takeaways listed by the analyst were:
- Nvidia is benefiting from the demand for generative AI training and inferencing and the latest iteration of its Hopper GPUs is seeing strong adoption at cloud service providers and enterprises.
- Nvidia unveiled DGX Cloud, its AI-as-a-Service, to provide enterprises access for AI software and Supercomputer through Cloud.
- ARM-based Grace CPU is sampling now, with production expected in the second half.
- The company announced new platforms, namely L4/L40/H100 NVL, and Grace Hopper, to address a wide range of AI inferencing demand at scale.
- It also introduced Omniverse Cloud.
Read Next: Nvidia Stock Follows AMD Higher, Breaks Through Heavy Resistance: A Look At The Chart
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.