Key Stats for Nvidia Stock
- Price change for Nvidia stock in last 1 year: 24%
- $NVDA Stock Price as of Jul. 9: $203
- 52-Week High: $236
- $NVDA Stock Price Target: $302
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What Happened?
TD Cowen reiterated its Buy rating on Nvidia (NVDA) stock and named it a Top Pick, maintaining a $275 price target implying roughly 35% upside from where shares closed.
The call came after the firm hosted an investor lunch with Nvidia’s leadership team, including CEO Jensen Huang, CFO Colette Kress, and Head of Investor Relations Toshiya Hari.
Analyst Joshua Buchalter said Nvidia’s message to investors is clear: computing power remains in short supply, and the market is thinking about Nvidia’s technology far too narrowly.
He pointed out that Nvidia’s hardware and software work together, or “co-design,” in a way that gives the company a real edge as AI keeps evolving from general chatbot-style applications toward more specialized, industry-specific tools.
To put some numbers behind that, Nvidia estimates about 20% of its business comes from supporting frontier AI models built by companies like OpenAI and Anthropic.
Meanwhile, TD Cowen estimates that Nvidia’s revenue from enterprise applications across multiple industries is in the low-to-mid-teens range.
That’s a meaningful chunk of business coming from outside the flashy AI chatbot headlines, which is part of Buchalter’s point about Nvidia’s opportunity being underappreciated.
TD Cowen also highlighted evidence that computing capacity is genuinely tight right now. Rental prices for older GPU models have been climbing, AI adoption continues to widen across industries, and recent cloud computing deals have been signed at premium prices.
All of that points to demand outpacing supply.
Nvidia’s own recent quarterly results back up the strength story.
- The company posted $82 billion in total revenue, up 85% year-over-year, marking its third straight quarter of accelerating growth.
- Data center revenue alone hit $75 billion, up 92% year over year.
- Nvidia also highlighted a new growth driver: its Vera CPU line, which the company expects to generate $20 billion in sales by the end of this fiscal year, a notable push into a market historically dominated by Intel and AMD.
Beyond the CPU expansion, Nvidia has been striking new partnerships, including a deal with Valar Atomics to build a nuclear-powered data center in Utah aimed at reducing water use for AI computing.
AI startup Perplexity has also chosen to use Nvidia’s new CPUs for AI agent tasks.
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What the Market Is Telling Us About Nvidia Stock
TD Cowen’s bullish stance reflects growing confidence that AI spending is durable, not a temporary spike, and that it’s spreading across more customers and use cases than investors currently give Nvidia credit for.
Some valuation analyses even suggest that Nvidia stock remains undervalued relative to its fair value.
That said, not everyone shares this optimism.
Investor Michael Burry has taken a short position against Nvidia stock, citing valuation concerns tied to overall AI infrastructure spending.
Comments from Meta’s Mark Zuckerberg about slower-than-expected progress in AI agents have also added caution to the broader AI narrative.
Still, firms like Bank of America view the recent semiconductor sector pullback as a temporary adjustment rather than a sign that AI demand is fading, keeping names like Nvidia stock in focus for investors watching this space closely.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
