Nvidia’s stock could win big amid ‘AI arms race,’ says BofA analyst

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Nvidia’s stock could win big amid ‘AI arms race,’ says BofA analyst
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Instead of placing bets on which companies will rise to the top in artificial-intelligence-powered search, perhaps investors should look below the surface.

Instead of placing bets on which software companies will rise to the top in artificial-intelligence-powered search, perhaps investors should look below the surface.

... Instead of placing bets on which software companies will rise to the top in artificial-intelligence-powered search, perhaps investors should look below the surface. Nvidia is a “top compute pick” for Arya, and he’s feeling even more bullish lately. He upped his price objective to $255 from $215 Monday while maintaining a buy rating, “as AI adoption potentially catalyzes long-term data center growth.”

Even if you pump the brakes on the current mania around generative AI, which is the type of AI that ChatGPT represents, Nvidia still looks poised to benefit from a broader wave of interest in the category, in his view.

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