Nvidia Rocketing Higher on Goldman Upgrade

FILE PHOTO: Nvidia to expand partnership with Vietnam, support AI development

The last time we mentioned Nvidia (NVDA), it traded at $522.53 on Jan. 8.

At the time, we noted, “The company made several big announcements at CES 2024, which included new chips for generative AI, PCs, gaming, and newer partnerships. NVDA also announced its newest GeForce RTX graphics cards, which offer 4K resolution and even ray tracing. From its current price of $522.53, we’d like to see it test $600 short-term. By year-end, with the progress it’s making, it could see $1,000.”

Today, NVDA is up to about $692 and could race even higher.

Helping, Goldman Sachs just said NVDA could see $800 on a potential earnings boost from AI. “We believe Nvidia will remain as the industry gold standard for the foreseeable future, given its robust hardware and software offerings and, importantly, the pace at which it continues to innovate,” noted the firm.

Goldman Sachs “also lifted its full-year 2025-2026 earnings estimates for Nvidia by 22% on an average, citing signs of robust AI server demand and improving graphics processing unit (GPU) supply,” as noted by Reuters.

Now, as NVDA nears earnings on Feb. 21, the stock could rally even higher.