Nvidia faces growing competition in AI chips, but BNP Paribas believes its full-stack platform remains a key advantage that rivals will struggle to replicate.
The brokerage has retained its 'Outperform' rating on Nvidia, raising the target price to $345 from $285. With the stock at $234 on October 2, the new target implies up to 47% upside. The brokerage said that Nvidia's advantage is becoming more relevant as AI moves beyond training and towards increasingly complex inference workloads.
