Nvidia (NASDAQ:NVDA) is planning to build an artificial intelligence center in Central Java, Indonesia this year, worth $200 million. The company is planning to build this center along with Indonesia’s telecommunication company, PT Indosat Ooredoo Hutchison.
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This AI center could consist of a telecommunication infrastructure or a human resource center, and will be located in Surakarta city in Indonesia.
Impact of Taiwan Earthquake on Nvidia
Meanwhile, investors were concerned yesterday about the impact of the earthquake in Taiwan on the chip major. This concern stemmed from the fact that one of the largest suppliers of microchips in the world, Taiwan Semiconductor Mfg. Co. (NYSE:TSM), is located in Taiwan.
However, Nvidia reassured that the earthquake would not impact its chip supplies. Yet, signs of diversification among the company’s suppliers are emerging, illustrated by SK Hynix, a vital Nvidia supplier, announcing plans to establish a state-of-the-art chip-packaging plant valued at $3.9 billion in West Lafayette, Indiana.
Is Nvidia a Buy, Sell, or Hold?
Analysts remain bullish about NVDA, with a Strong Buy consensus rating based on 39 Buys and two Holds. Over the past year, NVDA has skyrocketed by more than 200%, and the average NVDA price target of $983.84 implies an upside potential of 10.6% at current levels.
