Wall Street’s most valuable chipmaker, Nvidia (NVDA), is getting a double boost — a bullish new forecast from Cantor Fitzgerald and a rare export approval from Washington that could deepen its global AI footprint.
In an investor note, Cantor raised its price target on Nvidia to $300 from $240 after meetings with CEO Jensen Huang, CFO Colette Kress, and other senior executives in New York, where the tech giant unveiled its vision for the massive AI infrastructure buildout, reports Investing.com.
The firm kept its Overweight rating, describing the AI market as an expanding multi-trillion-dollar push rather than a bubble.
The financial services firm projects Nvidia could reach $8 per share in earnings by 2026 and $11 by 2027, well above Wall Street’s consensus. It also expects Nvidia to maintain at least 75% of the AI-accelerator market, supported by new partnerships with OpenAI that could narrow the cost gap with custom ASICs to just 15%.
The company has grown revenue by over 70% in the past year and continues to dominate the AI-accelerator market that powers hyperscale data centers worldwide.
NVDA soared to a new 52-week high on the news to $195.30 before ending the trading day at $192.57.
Cantor’s NVDA price update comes as US regulators quietly cleared several billion dollars’ worth of Nvidia chip exports to the United Arab Emirates, the first such licenses since the Trump administration, Bloomberg reports. The approvals, granted by the Commerce Department’s Bureau of Industry and Security, are part of a bilateral AI agreement announced in May that ties chip access to reciprocal Emirati investment in the US.
Under the AI accord, the UAE has pledged to invest $1.4 trillion in America over the next 10 years, with the US planning to approve up to 500,000 advanced AI chips per year.
A US official says the licenses were contingent on concrete plans for a reciprocal amount of investment on American soil.
“The Commerce Department is fully committed to the transformational US-UAE AI partnership deal.”
The initial batch of permits does not include shipments for G42, according to people familiar with the matter, and future authorizations will depend on how the UAE’s investment rollout unfolds. Under the terms of the deal, every dollar in US chip exports must be matched by an equal dollar of Emirati capital investment.
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