Nvidia Is The Best Artificial Intelligence and Machine Learning Play, Analyst Says

Mizuho analyst Vijay Rakesh reiterated a Buy on Nvidia Corp NVDA with a $205 price target.
Recent events have significantly impacted the global AI technology roadmap, from elevated geopolitical tensions resulting from technology export restrictions to essential industry product updates.
Rakesh writes NVDA reigns supreme, with its DGX H100 (Hopper) potentially continuing to dominate the market.
He expected competition abounds as AI startups seek to disrupt the industry, including Cerebras, Tesla Inc TSLA, and Sambanova, among others.
Rakesh estimates U.S. Department of Commerce restrictions on AI chips could start to close the door for even domestic China suppliers to be given technology, support, and supply chain restrictions.
Rakesh continues to see NVDA as the best AI and ML play, pushing the tip of the spear in AI training performance.
The valuations are attractive, reflecting macro PC and gaming softness and significant US-China restrictions impact, offsetting tailwinds from recent Meta Platforms Inc META capex ramps for C23E in AI.
Price Action: NVDA shares traded lower by 1.74% at $135.93 on the last check Monday.
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