Nvidia gets a $350 price target — the most bullish on Wall Street (NVDA) – Finance

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Nvidia CEO and President Jen-Hsun Huang play the game using PhysX Nvidia technology for games at the International Consumer Electronics Show in Las Vegas on Thursday, January 8, 2009.
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Nvidia CEO and President Jen-Hsun Huang play the game using PhysX Nvidia technology for games at the International Consumer Electronics Show in Las Vegas on Thursday, January 8, 2009.

(AP Photo / Paul Sakuma)

  • Nvidia received a target of $ 350 in Needham – the most bullish on Wall Street.
  • Chipmaker on Wednesday neglected Platform for data centers AI TensorRT, which can provide the most advanced acceleration of output in the industry.
  • Nvidia was presented last month new composition of the video card, GeForce RTX Serieswhich can perform ray tracing in real time due to its new Turing architecture.
  • See how Nvidia trades in real time here.

Nvidia shares rose more than 2% in early Friday after Needham raised his target price to $ 350 per share – the most optimistic on Wall Street – stating his dominance in artificial intelligence and has good opportunities for use in the next wave of calculations.

"We see striking parallels between the dominance of Nvidia in the field of artificial intelligence / machine learning and the Wintel platform in the era of computer computing," said Needham analyst Rayvindra Gill in a note sent out to customers on Friday. Wintel has two words "Windows" and "Intel" and refers to all personal computers based on the Intel microprocessor and one Windows operating system from Microsoft.

Chipmaker on Wednesday neglected AI-center platform TensorRT, which could provide the most advanced acceleration of output in the industry for a wide range of services, such as interaction with an expanded natural language and direct answers to search queries, rather than a list of possible outcomes.

Jill said that the new TensorRT will help Nvidia capture a larger market share of the withdrawal.

"We believe that its unified CUDA platform, combined with its proprietary interconnection and comprehensive output / training software, makes it unique in order to benefit from this next wave of computing," he added.

Last month, the company introduced a new line of video cards – GeForce RTX series. The flagship card will have 11 GB of memory with 4352 CUDA cores, which is 20% more than the previous generation. Based on new architecture of the graphics processor Turing, video cards can realize ray tracing in real time, a technology that allows for more cinematic and realistic display of animation or video games. For the first time this technology was widely available to every consumer.

As part of Nvidia's profit for the second quarter, the chipmaker gave up expectations of Wall Street, but reduced revenue forecast for the third quarter and warned that the crypto business will be zero.

Nvidia's shares rose 37% this year.

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(Business Insider)

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