5 big analyst AI moves: AI market is not a bubble yet, says Goldman
Investing.com — Here are the biggest analyst moves in the area of artificial intelligence (AI) for this week.
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Matt Bryson, an equity analyst at Wedbush, hiked the target price on Nvidia (NASDAQ:NVDA) stock from $850 to $1,000 ahead of the company’s global artificial intelligence conference (GTC) next week.
He believes the news flow could serve as a near-term positive catalyst for NVDA “in addition to continued inputs suggesting end demand for NVDA’s AI products remains robust.”
This outlook is supported by Oracle's (NYSE:ORCL) recent comments, which highlight not only a healthy demand for cloud services but also its anticipated capital expenditure plans for the current quarter and the fiscal year 2025, the analyst said.
As for the conference itself, Bryson is anticipating insights into several developments, including Nvidia’s new Blackwell architecture.
“We expect NVDA’s new Blackwell architecture will provide significant performance gains vs. Hopper. As a reminder, NVDA presented the H100 as delivering up to 9X faster training and 30X faster inference performance vs. the A100,” he wrote.
The relentless rally in NVDA and other frontrunners of the ongoing AI boom has sparked speculation among market participants about whether the market is in a bubble.
During the week, Goldman Sachs analysts released a note addressing this matter, where they pointed out that while optimism around AI is surging in the U.S. stock market, it hasn't yet reached the peaks of the Tech Bubble or the immediate post-COVID-19 period.
Analysts highlighted that their revised long-term growth rate estimate now stands at 11%, up from the usual 9% but
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