BING-JHEN HONG
- Nvidia (NASDAQ:NVDA) was in focus on Wednesday as Citi raised its price target on the semiconductor giant, citing its plans for 2025 to build its GB200 GPUs in both the NVL36 and 76 configurations.
- Shares rose 2% in premarket trading.
- Although the major cloud service providers account for roughly 40% of Nvidia’s data center sales, enterprise AI agents are the next wave of artificial intelligence demand, especially in inference, Citi analyst Atif Malik said. Malik maintained his Buy rating on Nvidia and raised his price target to $150 from $126.
- Adoption of AI is still early, Malik said, adding that it’s likely in the third or fourth inning.