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.
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 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.
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