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The rise of artificial intelligence (AI) is forecasted to create a massive global market with an addressable potential of $15.7 trillion by 2030, according to PwC. Notably, Nvidia (NASDAQ: NVDA) has emerged as a leader in this revolution, with its analysts predicting the stock could reach as high as $220 per share, putting its market valuation near $5.4 trillion, significantly up from $360 billion at the start of 2023.
Analyst Ivan Feinseth from Tigress Financial anticipates strong demand for Nvidia’s GPUs will drive this growth, while Seaport Global Investors’ Jay Goldberg has issued a $100 price target, indicating a possible drop of nearly 30%. Goldberg’s concerns stem from competition and potential oversupply in the AI hardware market, alongside a projected slowdown in enterprise spending on AI infrastructure by 2026.
Nvidia’s sales are expected to jump from $27 billion to over $130 billion between fiscal 2023 and fiscal 2025, but the company faces challenges as customers develop their own AI solutions, which may impact future demand for Nvidia products.
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