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Nvidia (NVDA) shares have already printed a new all-time high this week – but a senior Wedbush analyst believes the momentum will only accelerate.
According to Dan Ives, unmatched demand for AI chips and continued sovereign investments in artificial intelligence infrastructure could help NVDA become the world’s first $4 trillion firm this summer.
At the time of writing, Nvidia stock is up some 80% versus its year-to-date low in early April.
Why Is Dan Ives So Bullish on Nvidia Stock?
Wedbush remains uber bullish on NVDA shares since it sees the chipmaker as “the foundation of [the] AI revolution.”
In his research note, Ives reiterated that artificial intelligence – “the biggest tech trend” of the 21st century – is still in its early innings only.
On Friday, the analyst reiterated his “Outperform” rating on the AI stock, saying “they are the only game in town with their chips the new gold and oil.”
Wedbush currently has a $175 price target on Nvidia, which indicates potential upside of another 14% from current levels.
NVDA Shares to Benefit From Revenue Acceleration in H2
Nvidia stock remains attractive despite its massive rally since early April mostly because it offers exposure to all verticals of artificial intelligence (hardware and software).
That made Jordan Klein, a Mizuho analyst, count NVDA among the “three horsemen” of the global semiconductor industry (other two being Broadcom (AVGO) and Taiwan Semi (TSM)) in a recent interview with CNBC.
Klein recommended sticking with the AI stock as the Nasdaq-listed firm is strongly positioned for “a big improvement or acceleration in their sequential growth into the back half” of 2025.
Wall Street Continues to Recommend Owning Nvidia
Nvidia’s central role in enabling the AI revolution is keeping the rest of Wall Street constructive on its stock as well.
According to Barchart, analysts currently have a consensus “Strong Buy” rating on NVDA shares with the mean target of nearly $177 indicating potential upside of some 15% from current levels.
