Nvidia stock target hikes keep coming after GTC event
Since closing at $878.3 on Friday, Nvidia (NASDAQ:NVDA) stock climbed by nearly 2% this week after its much-anticipated GTC AI-focused conference kicked off on Monday. The upswing comes after the company announced a range of new AI technologies and offerings during the first two days of the event.
As a result, NVDA received a string of fresh price target (PT) hikes by Wall Street analysts.
In his keynote speech, Nvidia CEO Jensen Huang introduced a range of technologies, from the Blackwell platform to a foundational model for humanoid robots, among others.
Blackwell, designed to empower organizations to develop and deploy real-time generative captured most of the spotlight.
This platform supports trillion-parameter large language models with up to 25x reduction in cost and energy use compared to previous models.
It utilizes a custom 4NP TSMC process and includes a unique chip-to-chip link that merges two GPU dies, resulting in a GPU that houses 208 billion transistors.
This new GPU architecture from Blackwell incorporates six advanced technologies aimed at boosting performance in data processing, engineering simulation, electronic design automation, drug development, quantum computing, and GenAI.
As part of the Blackwell architecture, Nvidia introduced its most powerful AI chip yet, named the B200.
According to Huang, a Blackwell GPU will cost in the range of $30,000 to $40,000. He said the company spent $10 billion to develop this new powerful product.
Moreover, Nvidia unveiled new software tools aimed at easing developers' efforts to deploy AI models for businesses leveraging Nvidia technology.
Among those is the Nvidia Inference Microservice (NIM), a software designed to optimize the use of older Nvidia GPUs for AI
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