Nvidia Stock Price Target: Where Will It Be in 5 Years?

Spending on artificial intelligence (AI) infrastructure is widely expected to keep rising over the next several years. Leading foundry Taiwan Semiconductor Manufacturing projected that its AI chip revenue growth will climb at a mid-to-high 50% annual clip through 2029, while Ark Invest fund manager Cathie Wood recently forecast that data center capital expenditures (capex) would triple to hit around $1.4 trillion in 2030. That all bodes well for AI chip leader Nvidia (NASDAQ: NVDA), whose graphics processing units (GPUs) are the primary chips used to power AI workloads. Through the help of its CUDA software platform and networking portfolio, the company has taken commanding market share in the AI chip space. In the GPU market, it has about a 90% market share. Wood sees networking as one of the fastest-growing parts of AI infrastructure, which is also good news for Nvidia. Nvidia's networking portfolio saw its revenue skyrocket 162% last quarter to $8.2 billion, far outpacing its 56% compute revenue growth.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool