NVIDIA Corporation (NASDAQ:NVDA) is one of the top Goldman Sachs tech stocks to buy now. NVIDIA is one of Goldman Sachs’ largest holdings, with an accumulated value of almost $31.55 billion.
NVIDIA Corporation remains at the center stage of AI innovation, and the average price target of $298 implies an upside of over 32% as of June 2. During the GTC Taipei keynote, Nvidia CEO Jensen Huang said that the company has enough supply to accommodate robust growth in CPUs and GPUs amid the AI boom. This is a significant achievement, especially as AI demand has been growing and supply has been constrained by geopolitical shifts.
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Further, during the event, NVIDIA unveiled its new range of superchips, RTX Spark, for Windows laptops. The processor, backed by a Blackwell GPU and Grace CPU, will support laptops from leading manufacturers, including Dell, HP, ASUS, and Microsoft. The company is already working closely with Microsoft and other software developers to ensure their program can run on their latest chip.
RTX Spark is designed specifically for the use of AI agents and will also be handy for content creators and gamers. NVIDIA said that RTX Spark will have memory of up to 128 GBs, a massive storage capacity for any laptop.
NVIDIA’s moat spans from powering massive cloud data centers to everyday laptops, as everything is transitioning to be based on AI. That’s why NVDA remains a solid long-term bet. Goldman Sachs analyst James Schneider reiterated its Buy rating on NVIDIA Corporation (NASDAQ:NVDA) following Jensen Huang’s speech at GTC Taipei, with the price target set at $285.
NVIDIA Corporation (NASDAQ:NVDA) is a fabless semiconductor and AI computing company that designs GPUs, AI accelerators, Application Programming Interfaces (APIs), and system-on-a-chip units. Through its CUDA ecosystem, the company enables industries ranging from autonomous vehicles to scientific research by advancing AI, accelerated computing, and data center infrastructure.
While we acknowledge the risk and potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVDA and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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