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Nvidia (NVDA) received a major vote of confidence from Wall Street as Barclays analyst Tom O'Malley boosted his price target to $240 from $200, maintaining an “Overweight” rating. The upgrade reflects growing optimism around the chipmaker's dominant position in artificial intelligence (AI) infrastructure spending.
Barclays estimates that over $2 trillion will be spent on planned AI initiatives across approximately 40 gigawatts of global capacity over the next four to five years. Using the firm's calculations, which indicate that each gigawatt requires $50-60 billion and roughly 500,000 graphics processing units, Nvidia appears positioned to capture the majority of this massive buildout.
