Mizuho Raises Nvidia (NVDA) Price Target to $170 Following Q1 Results, Keeps Buy Rating

On May 29, Mizuho raised its price target on NVIDIA Corporation (NASDAQ:NVDA) from $168 to $170, keeping a Buy rating on the shares.

Vijay Rakesh from Mizuho has increased the price target on NVDA following the Q1 print, as the chip maker exceeded revenue estimates. Nvidia reported $44.06 billion in revenue for Q1 2025, surpassing the estimated $43.2 billion mark. The company’s Blackwell NVL72AI supercomputer is in mass production as Nvidia continues to grow its AI footprint globally.

Mizuho Raises PT on Nvidia (NVDA) Following Q1 Results, Keeps Buy Rating

Nvidia’s Blackwell ramp was the highlight this quarter, Rakesh noted. The new architecture now makes up 70% of shipments, indicating robust adoption.

Rakesh remains optimistic about Nvidia’s growing AI infrastructure presence as the company projects its revenue to be around $45 billion during Q2. The analyst highlights its forecast for the July quarter as “Better than some concerns,” especially given the drag from ongoing U.S. export limitations to China. The China ban reflects an estimated $8 billion revenue impact in Q1. Rakesh believes that this damage will be “partially offset” by continued global rollouts of Blackwell. The analyst sees a promising future for Blackwell chips as cloud service providers are installing more than 1,000 Blackwell-based racks per week. Moreover, the upcoming launch of the GB300 Ultra will support this momentum.

NVIDIA Corporation (NASDAQ:NVDA) is a full-stack computing infrastructure company, leading the AI chips market. The company is engaged in accelerated computing to help solve various computational problems. Nvidia operates through two segments: Compute & Networking and Graphics.

While we acknowledge the potential of NVDA to grow, 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.

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