What's Going On With Nvidia Stock Thursday

Nvidia Corp NVDA stock continues to pique investor interest despite risks to its crucial market as the U.S. eyes a stricter stance over China's AI ambitions.

The U.S. eyes aggressive export controls on top of a preexisting embargo to restrict sales of some artificial intelligence chips to China. The move partly aimed at Nvidia's A800 chip, which the chipmaker designed after the earlier controls.

However, Nvidia CFO Colette Kress expects no material change to its earnings from the latest embargo. China accounts for 20% - 25% of China's data center sales. 

Analysts at Piper Sandler, led by Harsh Kumar, increased their price target for Nvidia to $450 from $440 and reiterated an Overweight rating.

Kumar hosted two Nvidia executives Wednesday for a conversation. Kress shared at the Piper event that she did not expect an "immediate material impact" from possible extended bans.

Further, Kumar gained optimism on Nvidia's discussion of its networking business, Scalable Hierarchical Aggregation and Reduction Protocol (SHARP), and NVIDIA Collective Communication Library (NCCL) offerings.

The call reinstated the benefits of NVDA's product offering, providing significant advantages over competitors.

The analysts also saw the company's vertically integrated approach as compelling.

Rosenblatt analyst Hans Mosesmann reiterates Nvidia with a Buy and a $600 price target.

The analyst also estimates minimal impact from the new restrictions.

The AI frenzy was pivotal in Nvidia's entry into the trillion-dollar club ahead of its peers. The stock is up 188% YTD.

Price Action: NVDA shares traded lower by 0.18% at $411.93 on the last check Thursday.