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Nvidia Analyst Says AI Is Fueling Data Center Growth

Nvidia Analyst Says AI Is Fueling Data Center Growth

A conversation with a Nvidia exec about artificial intelligence revealed dynamics such as an increase in demand driven by the COVID-19 pandemic, according to Piper Sandler. 

The Nvidia Analyst: Harsh Kumar maintained an Overweight on Nvidia with a $390 price target. 

The Nvidia Takeaways: The analyst spoke with Ian Buck, Nvidia's vice president of accelerated computing, about topics like conversational AI, edge computing, natural language processing and recommendation engines. 

The practical applications for these fields include speech recognition and health care, the analyst said in a Tuesday note. 

COVID-19 is driving AI demand, he said.

Nvidia's “A100 platform was used by a supercomputer to help understand how 1 billion different compounds could affect COVID-19,” Kumar said. 

NVDA Price Action: Nvidia shares were down 1.69% at $408.06 at last check.

Photo courtesy of Nvidia. 

Latest Ratings for NVDA

May 2021BairdInitiates Coverage OnOutperform
Apr 2021Raymond JamesUpgradesOutperformStrong Buy
Apr 2021Wells FargoMaintainsOverweight

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