Nvidia initiated with a Buy at Redburn Atlantic

Redburn Atlantic initiated coverage of Nvidia (NVDA) with a Buy rating and $178 price target The firm says accelerated computing is further helping to lower the cost of compute as Moore’s law and Dennard scaling slow. The artificial intelligence coding capabilities developed in the first wave of AI will enable the second wave of accelerated compute by facilitating the update of the foundational software used in general-purpose compute, the analyst tells investors in a research note. Although the adoption of accelerated compute will not be linear, Redburn’s analysis concludes that the drivers are structural in nature, the analyst adds.