Nvidia (NVDA) doesn’t plan to give up its artificial intelligence (AI) throne anytime soon with a new product update that will help it appeal to more than just the biggest customers. Nvidia has updated its Jetson line with a new device that puts the power of generative AI in the palm of users’ hands.
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The newest version of Nvidia Jetson is designed to appeal to hobbyists and small companies that want to integrate AI into their operations. To achieve that, Nvidia has set a modest price of $249 for the latest version of the small computer. That’s roughly half the price of the prior version, making this new iteration more accessible to a wider range of customers.
Additionally, Nvidia Jetson benefits from handling generative AI tasks without connecting to massive data centers. That grants it the freedom to be used in more mobile projects, such as robotics. Another plus is Jetson being absent from the list of processors that can’t be exported to China, securing an extra source of sales for the device.
What This Means for NVDA Stock
Nvidia faces increasing pressure from rivals who want to carve out a space from its AI dominance. Among them is Broadcom (AVGO), which plans to help some of Nvidia’s customers develop their own AI chips. This has weighed on its stock lately with shares down 3.38% as of this writing after a 1.68% dip yesterday.
However, today’s Jetson news shows that Nvidia remains dedicated to maintaining a diversified portfolio of AI products. Targeting hobbyists and small companies could help the company generate a larger consumer audience, insulating it from larger customers who may reduce their dependency on its AI chips.
Is NVDA Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Nvidia is Strong Buy based on 37 Buy and three Hold ratings over the last three months. With that comes an average price target of $177.14, a high of $220, and a low of $135. This represents a potential 39.23% upside for NVDA shares.
