Analyst sets Nvidia's (NVDA) share price after $20B Groq deal

Core Viewpoint - Nvidia's stock is experiencing an upward trend following a new partnership with Groq, which is expected to enhance the company's growth in the upcoming year [1] Group 1: Partnership and Strategic Importance - The partnership with Groq involves a non-exclusive licensing agreement for inference technology, which is seen as a strong catalyst for Nvidia's growth [2] - Several senior executives from Groq will join Nvidia as part of the agreement, indicating a strategic alignment between the two companies [2] - The deal is viewed as strategically significant for Nvidia, potentially alleviating investor concerns regarding competition from Alphabet's Tensor Processing Units (TPUs) [3][4] Group 2: Analyst Insights and Price Targets - Analyst Stacy Rasgon from Rosenblatt Securities has set a new price target for Nvidia at $245, reflecting a 30% upside from current levels [2][5] - This new target is below the average 12-month price target of $263.58 from 41 analysts, suggesting further potential for stock appreciation of over 37% [5] - The potential of Nvidia's CUDA software ecosystem to enhance Groq's Language Processing Unit (LPU) is highlighted as a factor that could strengthen Nvidia's competitive position in the AI sector [6]