Sell side commentary on Nvidia (NVDA) post GTC event: All remain very bullish but "no big surprises" seems to be the main takeaway

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  BofA says, "...Overall, announcements were within expectations... While no specific launch dates or pricing were announced for Blackwell, we expect the largest hyperscalers/tech companies including Microsoft (Azure), Amazon (AWS), Google (GCP), Oracle (OCI) and others to adopt the new platform as it ramps later this year."


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  JPMorgan believes Nvidia is well positioned to continue to benefit from major secular trends in AI, high-performance computing, gaming, and autonomous vehicles, adding that the Co. "continues to be 1-2 steps ahead of its competitors".


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  Wells Fargo, who raised its PT on Nvidia to USD 970 from 840, believes some may have anticipated a bit more out of the Blackwell B200 launch.


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  Morgan Stanley says there "were no big surprises", but noted that the performance of the Blackwell family "will raise the bar yet again."


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  KeyBanc says despite some anticipation that Nvidia would increase the USD 1tln total addressable market (TAM) for accelerated computing, the company maintained it. Nonetheless, Keybanc is encouraged by the announcements as it views them as reinforcing Nvidia's leadership position in generative AI.


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  Goldman Sachs, who raises its PT to USD 1,000 from 875, says it comes away with a renewed appreciation of Nvidia’s 1) unique ability to innovate at data center scale (as opposed to at the GPU or chip level), 2) large eco-system and breadth of its customer and partner engagements and, 3) ultimately, compelling position as one of the key enablers and beneficiaries of the ongoing build-out of Generative AI infrastructure.

19 Mar 2024 - 12:02- - Source: Newsquawk