11 Trending AI News and Ratings

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3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 193

NVIDIA Corporation (NASDAQ:NVDA) specializes in AI-driven technologies, offering platforms for cloud computing, robotics, autonomous vehicles, and data centers.

BofA hosted NVIDIA CFO Colette Kress, IR Stewart Stecker, and Andrew Nguyen for an investor dinner in Las Vegas, a day after the company CEO’s keynote. The firm reiterated a Buy rating on NVIDIA with a price target of $190. The firm is increasingly confident in the company’s role as an AI incubator, and noted growth in AI/robotics, AI workstations, and autonomous driving. The firm also believes that NVIDIA is early in capitalizing on a $2 trillion infrastructure opportunity. However, volatility may continue until Q4 earnings in February due to potential China restrictions and product transitions. NVIDIA is the firm’s top sector pick and BofA believes that the GTC conference in March is expected to be a key catalyst.

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