The AI ​​”iPhone Moment” was started by Investing.com

By Sinad Karametovic

Shares of Nvidia (NASDAQ:) closed yesterday just above 1% after the company unveiled new chips, supercomputing services, and a series of high-profile new partnerships.

Investor interest has turned to artificial intelligence (AI) applications, given the hype around ChatGPT and AI-powered chatbots in general.

“The iPhone AI moment has begun,” said Jensen Huang, Nvidia President and CEO, in the virtual keynote.

These are the comments of the Wall Street analysts who attended yesterday.

Oppenheimer (NYSE:): “We see sustainable structural growth led by data center AI (DC AI) with increased use of cloud accelerators; we expect AI use in the cloud to approach 50% in 4-5 years, from

Raymond James: “We estimate that our cloud services offering presents an incremental revenue opportunity of approximately $1 billion annually over the next 2-3 years (based on $2.23 billion in cloud capacity purchase commitments dollars over the next 4-6 years).. ..[Wereaffirmthestrongbuy-inofAI/MachineLearningdominancegamingrecoverytheimpactofcarsandtheemergingopportunityofsoftware/services[نعيدالتأكيدعلىالشراءالقويلهيمنةالذكاءالاصطناعي/التعلمالآلي،واستعادةالألعاب،وتأثيرالسياراتوالفرصةالناشئةللبرامج/الخدمات”[ReiteramoslacomprafuerteporeldominiodelaIA/ML(inteligenciaartificial/aprendizajeautomático)larecuperacióndelosjuegoslainflexióndelosautomóvilesylaoportunidademergentedesoftware/servicios”

Stifel: “We continue to see NVDA as one of the best companies that could benefit from accelerated spending focused on AI. With shares trading at 46.5 times our estimate of 2024 EPS (consensus 45 times), we think it’s understandably good momentum in the short term.”

Morgan Stanley: “Developments involving hardware, software, and services show a great deal of ambition in a market that looks set to make a huge impact. The GPT Chat capability is nothing new, but its introduction has clearly spurred a wave of investment that, in our opinion, is at an early stage. Obviously That valuation is expensive in both absolute and relative terms, but with a mix of strong business trends in the short and long term, it appears likely to remain.We reiterate our “Overweight” rating and $304 price target.

Evercore (NYSE: ISI): “Some surprisingly positive developments, but in our view this event was largely as expected and mainly served to increase confidence in NVDA’s position as an Arm distributor and enabler of AI adoption across all industries. The inflection point for AI and we continue to be.” We feel that NVDA is best suited to take advantage of this dynamic. We reiterate our assessment of “Outperform“(outperforming the market) and our price target is $300, as NVDA remains a top (preferred stock) stock.”

Nvidia shares were up about 0.7% on Wednesday before the market opened.