Nvidia's Computex announcements highlight importance of AI: Citi

Nvidia’s (NASDAQ:NVDA) Computex announcements placed further emphasis on how important artificial intelligence will be to the company and the world, investment firm Citi said.
“NVDA CEO Jensen Huang believes every company will need AI and at some point no individual or company will be able to go without AI,” Citi analyst Atif Malik wrote in a note to clients. “He pointed to ChatGPT for instance as the fastest growing product in [the] industry and has fundamentally replaced how information is retrieved.” Malik has a Buy rating and $150 price target on Nvidia.
In addition, the end to the AI Diffusion Rule — enacted by the Biden Administration and ended by the Trump administration — showcased how governments can have good intentions (protecting American technology) but poor conception, Malik added.
Lastly, the introduction of the NVLink Fusion technology shows that the company is listening to its customers, many of whom have been asking for something like this, Malik said.
Looking to the company’s next quarterly report on May 28, Malik is expecting revenue of $44.5B, slightly below the $46B Wall Street is expecting, largely due to the loss of the H20 in China and a broad decline in Hopper demand.

Nvidia’s Computex announcements highlight importance of AI: Citi