Nvidia: Dominating the AI Revolution, Analyst Report Predicts Continued Growth

Oppenheimer analyst Patrick Scholes maintains Nvidia Corp NVDA with an Outperform rating, raising the price target from $300 to $350.
The chipmaker reports its quarterly results on May 24. Scholes saw an upside to print and outlook.
Nvidia's Data Center Products will likely go up through the year as cloud vendors scale-out AI infrastructure. ChatGPT has sparked a sense of urgency some call "AI's iPhone moment." AI models continue to grow and proliferate.
The company's complete stack hardware and software platform remains the cornerstone of an expanding AI ecosystem.
Nvidia's A100 and H100 accelerators enjoy a dominant training share as they increasingly penetrate inference workloads.
Grace (ARM CPU) and Bluefield (DPU) round out NVDA's AI hardware line-up.
Gaming channel inventory has normalized and is ready for accelerated growth into the second half.
Nvidia's AI-led structural growth thesis is intact, deems the analyst.
DC, high-performance gaming, and auto are triple players for sustained growth.
As per the analyst, the chipmaker remains a best-in-class play on AI adoption.
Sustained structural growth led by DC AI as cloud accelerator attach picks up (could hit 40– 50% within five years, from 20% today).
The analyst remains a long-term buyer.
Price Action: NVDA shares traded higher by 3.59% at $312.56 on the last check Thursday.

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