Nvidia could mint $300 billion in AI revenues by 2027, 10 times the expected takings this year, analyst says
Chipmaker Nvidia's having a great year with its stock price doubling amid the artificial intelligence, or AI hype — and it could get even better.
Mizuho analyst Vijay Rakesh has given Nvidia's stock price another 20% upside to run — and even this new target of $530 is"conservative," according to a Sunday client note seen by Insider. Rakesh's previous price target for Nvidia was $400. Nvidia shares closed 0.7% higher at $446.12 apiece on Monday. The stock has surged 205% so far this year.
He also expects Nvidia to maintain its dominant position in AI chips till at least 2027. The company could generate around $300 billion in AI-specific revenue by 2027 with a 75% market share of AI server units, Rakesh added. That's 10 times his projection of $25 billion to $30 billion in AI revenues this year, he told
"With demand for generative AI accelerating, we see significant opportunities for hardware suppliers powering the higher compute needs for large-language models, particularly AI powerhouse NVDA," Rakesh wrote, referring to the Santa Clara-based chipmaker by its stock symbol.
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