Despite a recent drop in Nvidia shares and a broader sell-off in chip stocks, analyst Dan Ives sees the pullback as a buying opportunity. He maintained his Outperform rating and $300 price target, saying demand for Nvidia’s AI chips remains strong and is constrained more by supply than by customer appetite.
Ives said Nvidia’s competitive edge extends beyond its GPUs to its broader AI infrastructure, including networking and its CUDA software platform. Nvidia CEO Jensen Huang has also reaffirmed strong, contract-backed demand for the company’s AI chips.
Nvidia has begun selling a new line of AI-optimized PC laptops, with prices starting at $2,599.