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Investing.com - DA Davidson has reiterated its Buy rating on Nvidia (NASDAQ:NVDA) stock, maintaining its price target of $210.00 ahead of mega cap earnings week. The semiconductor giant, currently trading near its 52-week high of $195.62, has demonstrated remarkable financial strength with a 71.55% revenue growth in the last twelve months. According to InvestingPro analysis, NVDA maintains an EXCELLENT financial health score.
The firm noted that market attention during the upcoming earnings period will primarily focus on artificial intelligence (AI) compute demand growth, which it believes remains significant.
DA Davidson highlighted that developments during this earnings season will likely impact Nvidia’s outlook, despite the company not being among those reporting results this week.
The research firm expects Nvidia’s largest customers to continue their capital expenditure trajectory in the AI space.
This spending trend is being further enhanced by buildouts from "neoclouds" including Nebius (NASDAQ:NBIS), Oracle (NYSE:ORCL), and Crowdstrike (NASDAQ:CRWD), according to the analyst note.
In other recent news, SuperX AI Technology Limited announced a strategic investment in MicroInference Pte. Ltd., a member of the NVIDIA Partner Network. This acquisition of a majority stake aims to enhance SuperX AI’s supply chain for advanced NVIDIA servers and networking equipment. Meanwhile, Uber has partnered with Nvidia to advance autonomous vehicle development, utilizing Uber’s extensive driving data to train foundation models. In a significant development, Nscale has secured a deal with Microsoft for approximately 200,000 NVIDIA GB300 GPUs to bolster AI infrastructure across Europe and the U.S. This agreement marks one of the largest AI infrastructure contracts and will be executed in collaboration with Aker ASA.
Additionally, Microsoft plans to rent data center capacity from Nscale in Portugal to expand its AI capabilities. The project, located at the Start Campus data center park, will leverage Nvidia’s latest AI chips and is projected to be operational by early 2026. In other political news, President Donald Trump canceled plans to deploy federal troops to San Francisco following discussions with Nvidia’s CEO and other tech leaders. These recent developments highlight the increasing collaboration and investment in AI technologies across various sectors.
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