BUZZ-Nvidia market cap hits record $4.52 trln
Nvidia's shares rose 2.3%, pushing its market cap to a record $4.52 trillion. Citigroup raised its price target for Nvidia to $210 from $200, citing increased forecasts for AI-related infrastructure spending by tech companies, now expected to exceed $2.8 trillion by 2029. Year-to-date, Nvidia's stock is up 39%, trading at approximately 32 times forward earnings, below its five-year average of 40 times.
Shares of Nvidia (NVDA.O) rising 2.3% to a record high, lifting the AI heavyweight chipmaker’s market value to $4.52 trln after Citigroup raised its forecasts for Big Tech spending on AI
Citi raised its NVDA PT to $210 from $200, vs current price of $186.90 Citi analysts raised forecast for AI-related infrastructure spending by tech giants to surpass $2.8 trln through 2029, up from $2.3 trln estimated earlier, citing aggressive early investments by hyperscalers and growing enterprise appetite
With Tues’ gains, NVDA now up 39% YTD
NVDA trading at ~32x forward earnings, below its five-yr forward PE of 40x, per LSEG
