The NVIDIA (NVDA) price target was raised to $1,500 from $1,320 at Bank of America on Monday, with the firm maintaining its Buy rating on the chipmaker.
The bank said it lifted the target on Nvidia (NASDAQ:NVDA), which is its top pick, following the CEO keynote ahead of the Computex annual computer expo in Taiwan over the weekend.
"Key product announcements continue to bolster NVDA's AI leadership position," says BofA, highlighting the new GB200 NVL2 platform and the MGX modular reference design platform.
"Importantly, NVDA is now eyeing millions of GPUs-sized clusters for large hyperscalers as early as 2026, paving the way for greatly increased unit opportunities," they added.
The investment bank adds that NVDA is also eyeing mainstream/enterprise AI use cases with its smaller NVL2 and modular MGX platforms. Overall, BofA sees Nvidia's "multi-generational roadmap visibility" and breadth of its portfolio as key growth drivers.
"We continue to believe NVDA's turnkey system design could sustain 80%+ market share in AI accelerators and generate sustained growth in networking (Ethernet switch to already ramp to multi-billion dollars within a year)," states BofA. "With potentially faster Blackwell adoption (increased mainstream AI), we see potential EPS power of $50+ within two years."