AI & Enterprise
Bank of America keeps buy rating and $350 target for Nvidia, says AI dominance intact
Bank of America reaffirmed its buy rating on Nvidia and kept a $350 price target, implying about 59 percent upside from around $220. It said worries over rising high-bandwidth memory costs are overstated given Nvidia’s pricing power, scale and $119 billion in supply-chain commitments. The bank said Nvidia can maintain mid-70s gross margins as rack costs rise. It also kept a long-term view that Nvidia could capture more than 65 to 70 percent of AI infrastructure spending.
