Wall Street’s AI darling NVIDIA (NASDAQ:NVDA) announced a set of microservices with an eye on physical AI. Meanwhile, analysts continue to remain Bullish about the company’s shares with two new Buy ratings today.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Bridging Technology and the Real World
In today’s world, sensors are a multibillion-dollar industry, enabling everything from electric vehicles to humanoid robots to make sense of the physical world around them. Now, NVIDIA is bringing in its Omniverse Cloud Sensor RTX, which is a set of microservices that can help in physically accurate sensor simulation. The new offering could help drive the development of fully autonomous machines across diverse settings.
Notably, the technology can be utilized to test sensor perception and related AI software at scale prior to solution deployment in the real world. Rev Lebaredian, the Vice President of Omniverse and Simulation Technology at NVIDIA, noted that the technology can help build “large-scale digital twins of factories, cities, and even earth.” This, in turn, could help drive the next wave of AI.
Meanwhile, on Wall Street…
Meanwhile, NVIDIA’s share price is up by nearly 206% over the past year amid a broad-based rally among chipmaking names. The stock has bagged two new Buy ratings today following its recent 10-for-1 stock split. Bernstein’s Stacy Rasgon has reiterated a Buy rating on NVIDIA alongside a $130 price target. Citi’s Atif Malik, a five-star rated analyst on TipRanks, has also maintained a Buy call on NVIDIA alongside a $126 price target. Meanwhile, NVIDIA’s upcoming annual shareholder meeting on June 26 is a key event to keep an eye on for investors.
What Is the Target Price for NVDA Stock?
Overall, the Street has a Strong Buy consensus rating on NVIDIA, alongside an average NVDA price target of $126.93. this implies the stock may hovering just above its fair valuation levels at present.
Read full Disclosure
