A conversation with a Nvidia exec about artificial intelligence revealed dynamics such as an increase in demand driven by the COVID-19 pandemic, according to Piper Sandler.
The Nvidia Analyst: Harsh Kumar maintained an Overweight on Nvidia with a $390 price target.
The Nvidia Takeaways: The analyst spoke with Ian Buck, Nvidia's vice president of accelerated computing, about topics like conversational AI, edge computing, natural language processing and recommendation engines.
The practical applications for these fields include speech recognition and health care, the analyst said in a Tuesday note.
COVID-19 is driving AI demand, he said.
Nvidia's “A100 platform was used by a supercomputer to help understand how 1 billion different compounds could affect COVID-19,” Kumar said.
NVDA Price Action: Nvidia shares were down 1.69% at $408.06 at last check.
Photo courtesy of Nvidia.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
