One derivative play on Nvidia is a buying opportunity that can more than double from current prices, according to Benchmark.
Analyst Mark Palmer initiated coverage of Bitdeer Technologies with a buy rating in a report out Thursday.
That view is driven in part by a key partnership with Nvidia that will help Bitdeer expand into artificial intelligence.
In November, Bitdeer announced it will be a preferred cloud service provider for Nvidia 's partner network.
But Benchmark's $13 price target implies the stock could nearly double from Wednesday's closing price of $6.74 per share.
Persons:
Mark Palmer, Palmer, Bitdeer, BTIG's Gregory Lewis, — CNBC's Michael Bloom
Organizations:
Nvidia, Bitdeer Technologies
Locations:
Singapore, U.S, Norway, Bhutan