Nvidia Receives Bullish Analyst Rating Amid AI Chip Market Shifts
RBC Capital Markets has initiated coverage on Nvidia with an Outperform rating and a $240 price target, signaling a 28% upside potential from current levels. The analyst acknowledges growing competition in the AI accelerator space but maintains confidence in Nvidia's ability to maintain market leadership.
Taiwan Semiconductor's planned capital expenditure increase to $56 billion by 2026 suggests continued strong demand for advanced chip manufacturing. This development provided an additional boost to Nvidia shares, which ROSE 2.1% during Thursday's trading session.
The semiconductor sector remains in focus as tech companies continue heavy investments in AI infrastructure. Nvidia's sideways trading pattern over recent months reflects investor uncertainty about its long-term dominance, but institutional analysts see current levels as an attractive entry point.
