Morgan Stanley once again showed its confidence in Nvidia (NVDA) stock by putting the AI chip giant back at the top of its semiconductor list.
The call is way more than a higher price target. Analysts led by Joseph Moore met with CEO Jensen Huang and CFO Colette Kress and came away more confident that Nvidia is still early in a new growth cycle. Morgan Stanley sees the Vera Rubin ramp, tight power availability, and rising demand for agentic AI as potential catalysts.