NVIDIA Corporation's strong market position and positive outlook from BofA Global Research have fueled investor optimism. The firm reiterated its "Buy" rating with a price target of $190, citing NVIDIA's robust fundamentals and anticipated growth in the data center market, projected at 60% y/y for CY25. Despite potential challenges from the Blackwell product transition and geopolitical tensions, the company's strategic advantages in AI and data center technologies are expected to drive future performance. The upcoming GPU Technology Conference is also likely to enhance investor sentiment, focusing on NVIDIA's innovations in AI and robotics.
The Direxion Daily NVDA Bull 2X Shares (NVDU) surged 4.71% to $68.42 at 10:00 AM on Tuesday, February 4.