Nvidia Corp.'s potential in artificial intelligence continues to help win over those who were formerly skeptical about the shares.
Nvidia Corp.’s potential in artificial intelligence continues to help win over those who were formerly skeptical about the shares.
Take HSBC Global Research analyst Frank Lee, who upgraded Nvidia’s NVDA stock by two notches Tuesday, to buy from reduce. “Hence, Nvidia does not need see too much growth in AI GPU volumes to match our expected revenue growth, given the big ASP uplift,” he wrote, referring to average selling price. “Given the aggressive rollout of ChatGPT by Microsoft as well as other AI initiatives from U.S. and Chinese cloud service providers,” Nvidia could see $5.2 billion in incremental fiscal 2024 revenue from AI GPUs, along with $11.1 billion in additional fiscal 2025 revenue from the products, according to Lee’s estimates.
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