V i e w p o i n t | 07 Jul 2025 02:00:00 ET │ 15 pages NVIDIA Corp (NVDA.O) Mid-Q Update – Lifting TP to $190 on Expanded AI TAM CITI'S TAKE We raise TP on Nvidia to $190 on AI TAM expansion. We model total 2028 data center semis AI TAM to now reach $563B or 13% above our prior expectation of $500B (Figure 3). The 4% increase in compute TAM is driven by higher-than-expected sovereign AI demand. Moreover, there was discussion of 10k GPUs or a supercomputer required per 10k employees at enterprises for agenti ...