Nvidia (NVDA) closed at $208 on Tuesday, and Bank of America Securities senior semiconductors analyst Vivek Arya forecasted a price target of $350, indicating a potential upside of more than 68%.
Analyst Targets for Leading AI Chip Makers
Arya also expects Credo (CRDO) to climb above 7% from its Tuesday close of $234. He set a $460 target for Analog Devices (ADI), which would represent a rise of roughly 13% from the current $404 level. Texas Instruments (TXN) received a $370 projection, translating to an increase of over 28% from its $288 price.
Market Outlook and Investor Sentiment
The analyst emphasized that demand for AI‑driven infrastructure remains intense, with firms like OpenAI and Anthropic seeking compute capacity wherever it is available. He noted that virtually every GPU is fully utilized, leaving no idle resources for the market.
Long‑Term Drivers and Crypto Connections
Arya highlighted that the AI chip sector is planning for multi‑year growth, aligning with roadmaps that span the next two to three years. He added that the same high‑performance chips also power blockchain and crypto mining operations, further bolstering investor confidence in the sector.