'1-2 steps ahead of competitors': Here's what Wall Street is saying about Nvidia after its big conference

Nvidia is "further distancing itself with its aggressive cadence of new product launches and more product segmentation over time," JPMorgan said.

• Nvidia revealed its new Blackwell chip at its annual GPU conference on Monday.
• The chip will succeed Grace Hopper and offers faster and more efficient computing power.
• Here's how Wall Street is reacting to Nvidia's new product announcement, and CEO Jensen Huang's address.

Nvidia's annual GPU Technology Conference kicked off on Monday with a two-hour keynote presentation from CEO Jensen Huang.

Huang unveiled Nvidia's new AI-enabling GPU chip, Blackwell, which will succeed its wildly popular Grace Hopper super-chip.

The upgraded Blackwell chip is the "world's most powerful chip," according to Nvidia, and combines 208 billion transistors to deliver faster and more efficient computing power compared to its predecessor.

"Generative AI is the defining technology of our time. Blackwell is the engine to power this new industrial revolution," Huang said.

Here's how Wall Street is reacting to Nvidia's new product announcement.

JPMorgan: "1-2 steps ahead of competitors."

JPMorgan said Nvidia's new product announcements should drive sustained revenue growth for the company into 2025.

"Overall, the team is further distancing itself with its aggressive cadence of new product launches and more product segmentation over time. With leading silicon (GPU/DPU/CPU), hardware/software platforms, and a strong ecosystem, NVIDIA is well positioned to continue to benefit from major secular trends in AI, high-performance computing, gaming, and autonomous vehicles," JPMorgan said.

"Bottom line: NVIDIA continues to be 1-2 steps ahead of its competitors," the bank added.

JPMorgan reiterated its "Overweight" rating on Nvidia and $850 price target.

Goldman Sachs: "Unique ability to innovate at data center scale on full display."

Goldman Sachs said that based on recent industry conversations, Nvidia products are experiencing a healthy supply and demand environment right now.

"All in, we come away from the keynote with a renewed appreciation of Nvidia's 1) unique ability to innovate at data center scale, 2) large eco-system and breadth of its customer and partner engagements and, 3) ultimately, compelling position as one of the key enablers and beneficiaries of the ongoing build-out of Generative AI infrastructure," Goldman Sachs said.

The bank reiterated its "Buy" rating and raised its price target to $1,000 from $875.

Bank of America: Blackwell will cement Nvidia's lead in large language models

Bank of America said Nvidia's product announcement on Monday represent "one big step for training, one giant leap for inference."

"With Blackwell, NVDA should not only cement its lead in LLM training, but also significantly step forward in AI inference. Specifically, Blackwell is capable of up to 4x faster training than H100, and as much as 30x faster in inference thanks to its new 2nd-gen transformer engine," Bank of America said.

Bank of America reiterated its "Buy" rating and $1,100 price target.