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Nvidia-Google Blog Beef: Here's What You Need To Know

Nvidia-Google Blog Beef: Here's What You Need To Know

The latest feud isn't pitting two Hollywood celebrates against each other, rather two high profiled tech executives. NVIDIA Corporation (NASDAQ: NVDA)'s CEO Jen-Hsuan Huang published a dual-purpose blog post: First, document the company's advances in artificial intelligence (AI), and second, refute a report from Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL)'s Google unit, in which it claimed to hold a leadership position in AI processing power.

According to analysts at Argus, Google's leadership claim in the AI space and Nvidia's response clearly demonstrate the "heightened interest" in tensor processing and the growing market for AI and machine learning technologies. Also, the rise in AI and hyperscale data centers will transform future data centers, which bodes well for GPU companies like Nvidia and Advanced Micro Devices, Inc. (NASDAQ: AMD) but also carries "major risks" for legacy CPU companies like Intel Corporation (NASDAQ: INTC).

Significant Upside To Nvidia Stock

The analysts at Argus argued there is room for "significant" appreciation in Nvidia's stock despite a notable pullback from the stock's all-time high of $120.92 to below the $100 per share mark.

The analysts highlighted Nvidia's push into markets beyond gaming and the company has even defied the "law of large numbers" in which it is "growing faster as it has gotten bigger."

Shares of Nvidia remain Buy rated with an unchanged $130 price target.

Related Links:

What One Analyst Thinks Will Get Nvidia's Stock Going Again

Citi Says Concerns Related To NVIDIA And Gaming Market Are 'Misleading'

Latest Ratings for AMD

Jun 2020Morgan StanleyMaintainsEqual-Weight
Apr 2020Argus ResearchMaintainsBuy
Apr 2020CFRAMaintainsBuy

View More Analyst Ratings for AMD
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