Analysts Add NVIDIA (NVDA) to Top Buy List, Cite AI Strength and Blackwell Chip Upside

We recently published a list of 10 Trending AI Stocks on Wall Street Right Now. In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other trending AI stocks on Wall Street right now.

On June 3rd, Jefferies added six new names to its list of “highest-conviction, Buy-rated” stocks, including chip giant NVIDIA Corporation (NASDAQ:NVDA).

The firm sees upside to the chipmaker’s full year 2025 guidance from its Blackwell Ultra chips and strength in networking.

“Ramp of Blackwell should push (gross margin %) to mid-70% throughout the year.”

Analysts Add NVIDIA (NVDA) to Top Buy List, Cite AI Strength and Blackwell Chip Upside

A close-up of a colorful high-end graphics card being plugged in to a gaming computer.

The firm views Nvidia as a dominant supplier of AI accelerators within the data center, coming away impressed with the company’s quarterly results. The highlight was particularly its revenue projection that largely mirrored what analysts expected despite the impact from U.S. export curbs. This revenue optimism largely comes from the “massive step up” in AI commitments from Saudi Arabia and the United Arab Emirates.

“We view NVDA as the dominant supplier of AI accelerators within the data center, an industry that is expanding rapidly due to the development and adoption of AI.”

NVIDIA specializes in AI-driven solutions, offering platforms for data centers, self-driving cars, robotics, and cloud services.

Overall, NVDA ranks 1st on our list of trending AI stocks on Wall Street right now. While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.