NVDA Stock Dips despite Price Target Boost from Analysts
NVIDIA had earlier predicted a surge in demand for its data center chips, which are critical for running generative AI technologies. According to Goldman Sachs analysts, this "step change" in projected chip demand suggests that Nvidia is poised for explosive growth driven by the "rise and spread of generative AI".
As a result, they raised their revenue and non-GAAP EPS forecasts for Nvidia's fiscal years 2025-2026, citing significant growth potential in Nvidia's data center business. $NVIDIA(NVDA.US$
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