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Nvidia, Baidu And AI

Nvidia, Baidu And AI

NVIDIA Corporation (NASDAQ: NVDA) is continuing to work to help drive the artificial intelligence industry and has a new partner.

In a recent note, Citigroup analyst Atif Malik highlighted Nvidia’s and Baidu Inc (ADR) (NASDAQ: BIDU)'s recent partnership announcement. This partnership will look “to bring the world’s leading artificial intelligence technology to cloud computing, self-driving vehicles and AI home assistants.”

Malik noted how at Baidu’s most recent AI Developer Conference, Baidu Chief Operations Officer Qi Lu said China is entering an AI era, and the company has already started to focus on expanding its businesses to capture the AI opportunity. “On top of the core business (search, mobile Baidu, and newsfeed), Baidu has expanded into new businesses like finance, cloud service, DuerOS, and autonomous driving all based on its AI technology," Malik said (see Malik's track record here).

Could Nvidia Shares Hit $300?

In Citi’s bull case scenario, Malik said he believes this type of run for Nvidia is not out of the question.

“Looking forward, we believe stock is not pricing in a) continued growth in data center sales where C17 sales are still ~7 percent of the projected $30B CY20 opportunity, b) auto inflection in C18 driven by NVDA’s open source automated vehicle (AV) stack and increased traction with car OEMs this year; and c) multiple expansion to “software like” IaaS + basic PaaS comps on AI democratization with GPU Cloud offering,” Malik wrote.

Related Links:

Nvidia Shares Remain Under-Owned

Citron's Andrew Left: Move Your Money From Nvidia To Google

Latest Ratings for NVDA

Nov 2020B of A SecuritiesMaintainsBuy
Nov 2020MizuhoMaintainsBuy
Nov 2020Raymond JamesMaintainsOutperform

View More Analyst Ratings for NVDA
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