Nvidia gets a $350 price target - the most bullish on Wall Street
- Nvidia received a $350 price target at Needham - the most bullish on Wall Street.
- The chipmaker on Wednesday launched AI data center platform TensorRT, which could deliver the industry's most advanced inference acceleration.
- Nvidia last month unveiled a new lineup of video cards, GeForce RTX series, which can perform real-time ray tracing thanks to its new Turing architecture.
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Nvidia shares jumped more than 2% early Friday after Needham raised its price target to $350 a share - the most bullish on Wall Street - saying its dominance in artificial intelligence and has it well positioned to capitalize on the next wave of computing.
The chipmaker on Wednesday launched AI data-center platform TensorRT, which could deliver the industry's most advanced inference acceleration for a wide range of services such as enhanced-natural-language interactions and direct answers to search queries rather than a list of possible results.
The new TensorRT will help Nvidia grab a larger share of the inference market, Gill said.
"We think that its unified CUDA platform combined with its proprietary interconnect and comprehensive inference/training software makes it uniquely positioned to capitalize on this next wave of computing," he added.Last month, the company unveiled a new lineup of video cards - GeForce RTX series. The flagship card will have 11 GB of memory with 4352 CUDA cores, a 20% jump from the previous generation. Based on its new Turing GPU architecture, the video cards can realize real-time ray tracing, a technology that allows for more cinematic and realistic rendering for animation or video games. It's the first time this technology has been widely available to every day consumers.
Nvidia shares are up 37% this year.
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