Posted 3/11/2024, 1:38:00 PM
Nvidia Soars on Booming AI Chip Demand and Expansion into New Markets
- Nvidia's revenue and cash flow are growing rapidly, fueled by demand for its GPUs for AI applications
- The company has strong pricing power due to its superior semiconductors
- Nvidia is investing in related high-growth areas like voice recognition software and humanoid robots
- It also has a $1 billion enterprise software business, providing revenue diversity
- One analyst has a $1,400 price target on Nvidia stock, implying 61% upside, due to its dominance in AI chips and expanding into new markets