Nvidia: A Giant on the Path to AI Success

The year 2024 undoubtedly marks a milestone in Nvidia's history – the chip manufacturer's stock price has reached a record high, despite recent corrections. Analysts remain extremely optimistic and continue to see significant growth potential, especially as the demand for Nvidia's AI chips consistently exceeds supply. Nvidia's CEO Jensen Huang recently announced to investors that the era of artificial intelligence has dawned and the need for computing is rising exponentially. Nvidia is expected to benefit massively from this. Among the 21 analysts surveyed by Visible Alpha, all but one rate the stock as a 'buy'. The average price target is $177, implying an increase of more than 31% from last Friday's closing price of $134.70. The booming demand for artificial intelligence has not only catapulted Nvidia's chip sales to new heights but also increased the company's market value to over $3 trillion. With quarterly revenue of $35.1 billion, particularly thanks to a doubling of data center revenues, Nvidia stands on a solid foundation. A further boost for Nvidia could occur next month when CEO Jensen Huang delivers a major speech at CES on January 6. According to analysts from Morgan Stanley, Nvidia remains a leader in the AI field in the near future, supported by solid research and development investments and strong partnerships with major cloud providers.