Nvidia Can Hit $8.5 Trillion on ‘Golden Wave’ of AI, Loop Says

Core Viewpoint - Nvidia Corp has made history by becoming the first company to breach a $5 trillion market capitalization, with analysts suggesting it could add trillions more to its valuation [1] Group 1: Analyst Price Targets - Loop Capital Markets raised its price target for Nvidia to $350 from $250, indicating an upside of over 70% from the last close of $202.49, which implies a market cap of more than $8.5 trillion [1] - Rosenblatt Securities increased its price target on Nvidia to $240 from $215, citing impressive Blackwell orders exceeding $500 billion through 2026 [4] Group 2: Stock Performance - Nvidia's shares rose 2% in premarket trading and are up more than 50% this year, outperforming the Philadelphia Stock Exchange Semiconductor Index, which gained 45% [2] Group 3: Demand and Product Development - Analysts highlight that Nvidia is at the forefront of a new "Golden Wave" of Gen AI adoption, with expectations of stronger-than-anticipated demand [3] - Nvidia is set to ramp up production of Blackwell graphic processing unit chips, which is expected to double its unit shipments over the next 12-15 months while benefiting from average selling price (ASP) expansion [3] Group 4: Customer Commitment - The optimism surrounding Nvidia comes ahead of its results release on November 19, with major customers like Microsoft, Meta, Alphabet, and Amazon remaining committed to aggressive AI spending [5]