Baird restated its ‘Outperform’ assessment of Nvidia, setting a price target of $1,050 in anticipation of the forthcoming GTC global AI conference next week.
Analyst Trista Gerra anticipates Nvidia will reveal its next-generation architecture, Blackwell, during the conference.
Commentary: “We anticipate a substantial increase in performance specifications compared to the H100, based on feedback from our industry channels regarding the higher pricing relative to the H100.”
“Nvidia’s annual pattern of introducing new products and enhancing performance will intensify pressure on ASIC architectures striving to keep pace, from our perspective.”
Meanwhile, sustained strong demand results in Nvidia continuously requiring additional capacity.
Gerra also anticipates potential growth opportunities in Nvidia’s enterprise solutions category.
“These enterprise solutions, exclusive to Nvidia, leverage the company’s comprehensive ecosystem to deliver tailored turnkey solutions, thereby accelerating the adoption of Nvidia’s L40S AI architecture in the enterprise,” he explained.
“Enterprise AI adoption is still in its nascent stages, indicating promising prospects for the continued growth of AI initiatives, with no significant competition observed thus far.”
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