Nvidia price target raised to $300 from $275 at Jefferies

Jefferies analyst Mark Lipacis raised the firm’s price target on Nvidia to $300 from $275 and keeps a Buy rating on the shares following a "beat/raise" quarter, telling investors that it continues to view Nvidia as a top pick. The company indicated that demand for generative AI has improved visibility and also announced a new AI-as-a-Service business model, said the firm, which models data center revenues accelerating through calendar 2023. Jefferies’ checks indicate that Nvidia’s full-stack hardware and software ecosystem has "become the de-facto standard for training neural networks," the analyst added.