Analysts unveil new Nvidia price targets ahead of 'AI Woodstock' conference
Nvidia shares jumped higher in early Monday trading as the AI-chip maker, the market's hottest tech company, kicks off its annual global developers' conference amid a surge in new technology spending and unprecedented hype from Wall Street investors.
Dubbed "AI Woodstock" by Bank of America analyst Vivek Arya, Nvidia's flagship GTC event is expected to attract more than 300,000 participants, in person and online, and include a host of new product launches and AI market forecasts through a keynote address from founder and CEO Jensen Huang.
"With the AI Revolution now here, it all starts with the Godfather of AI Jensen and Nvidia as this highly anticipated conference will be a launching pad for a number of products, use cases, partnerships to launch the next phase of the AI Revolution," said Wedbush analyst Dan Ives.
Nvidia shares have added more than $1 trillion of market value over the past year, carrying the stock to record levels and putting it within touching distance of Apple as the world's second biggest tech stock behind Microsoft. $Apple(AAPL.US$ $Microsoft(MSFT.US$ $NVIDIA(NVDA.US$
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