Nvidia stock still has 22% upside, even after its near-doubling this year, according to Goldman Sachs.
According to Goldman, Nvidia stock still trades at a relatively attractive valuation compared to its peers given how quickly it is growing and how durable those growth trends look in the coming years.
Goldman SachsThose investments should power continued revenue and profit growth at Nvidia, especially with its next-generation Blackwell AI chip set to be released later this year.
"Notable intra-quarter data points that support the view that AI spending is likely to continue beyond 2024 include" commentary from tech-focused companies, Hari said.
Super Micro Computer reported strong revenue growth and a record backlog driven by elevated demand for AI servers.
Persons:
Goldman Sachs, Goldman, —, Toshiya Hari, Hari, TSMC
Organizations:
Nvidia, Service, Blackwell, AMD, Micro Computer