Shares of Nvidia rose around 3% to $213.53 on Thursday, extending gains from the previous session as the semiconductor sector rallied. The move came amid a bullish reiteration from Goldman Sachs and reports that CEO Jensen Huang is invited to join President Trump's upcoming visit to China.
Goldman Sachs reaffirmed a Buy rating on Nvidia with a $250 price target, citing continued demand for AI infrastructure. The firm expects a 'beat-and-raise' quarter, though it noted that elevated expectations create a high bar for outperformance. Analyst also pointed to potential upside from Nvidia's $1 trillion data centre guidance and agentic AI opportunities.
Meanwhile, Semafor reported that CEO Jensen Huang will accompany Trump on a trip to Beijing on May 14–15 to meet President Xi Jinping. The summit will address trade, technology, and rare earth elements. Nvidia currently holds zero market share in China's AI GPU market due to years of U.S. export restrictions, making the trip crucial for reopening a key revenue stream. Nvidia is targeting $1 trillion in annual revenue by 2027, and regaining Chinese market access would be a significant step.
The stock's performance contrasts with peers: in the past month, AMD and Micron surged roughly 90% and 76%, respectively, while Nvidia rose only about 19%. Analysts observed that Nvidia is increasingly viewed as a proxy for the AI sector, trading more like a value stock. Hyperscalers' capex plans—combined spending by Alphabet, Amazon, Meta, and Microsoft is expected to reach $725 billion in 2026—continue to support Nvidia's GPU demand, but competition from in-house chips like Google's TPUs and Amazon's Trainium is growing.
