Nvidia Stock Soars Over 5% as AI Growth Prospects Boost Analyst Confidence

• Nvidia stock jumped over 5% on Monday morning due to increasing confidence in its AI prospects, with analysts raising price targets • HSBC analyst raised target to $1,050 based on Nvidia's expansion beyond GPUs into CPUs and software for AI • Truist analysts raised target to $1,177, calling Nvidia "the AI company" due to innovation, ecosystem, and investments • Nvidia kicking off annual GPU Technology Conference, expected to unveil new generative AI processor B100 • Nvidia stock trades at premium valuations but forecasting triple-digit growth, suggesting investors buckle up