- Goldman Sachs reiterates Buy rating and $285 price target on Nvidia, highlighting robust AI demand.
- The firm notes Nvidia's continued datacenter leadership and growing adoption of agentic AI.
- Vera Rubin platform rollout remains on track, with potential for further upside.
Following Nvidia's GTC Taipei event, Goldman Sachs maintained its bullish stance, citing stronger-than-expected AI PC ambitions and sustained datacenter dominance. The bank's $285 target reflects confidence in the company's ability to capitalize on rising AI infrastructure spending.
“Nvidia’s Vera Rubin platform is progressing as planned, and we see additional catalysts from enterprise AI adoption,” an analyst wrote in a note. The firm emphasized that demand for RTX-level AI workloads is driving a new cycle of upgrades, benefiting Nvidia’s GPU sales.
Goldman’s reiteration comes amid a broader consensus among analysts, who view Nvidia as a key beneficiary of hyperscaler capex cycles. The stock has rallied on expectations that Vera Rubin will accelerate data-center buildouts, with major cloud providers like AWS and Microsoft already signaling increased deployments.
“We are seeing a convergence of AI inference and training needs, which plays directly into Nvidia’s strengths,” the note added. The bank also pointed to growing interest in agentic AI, where Nvidia’s platforms are used to automate complex workflows, as a new growth vector.
Attempts to reach Nvidia for comment were not immediately successful. The company is scheduled to report its next quarterly results in late May. Goldman’s price target implies about 15% upside from current levels.