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Published on 12 October 2017
Goldman Sachs has raised its price target for Nvidia stock – which has skyrocketed 190% over the past 12 months – from US$193 to US$217 per share, representing a 15% upside from yesterday’s closing price, according to CNBC.
“We remain very bullish on Nvidia,” Goldman analyst Toshiya Hari explained, adding that the chipmaker will continue to dominate the booming artificial intelligence market.
“Equipped with Volta (new GPU architecture) and TensorRT (high performance deep learning inference optimiser), we believe Nvidia is better-positioned to address the Inferencing [machine learning AI] opportunity, a market historically dominated by CPUs (i.e., Intel),” Hari wrote in a note to clients.
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