As Nvidia becomes the most valuable company on Wall Street, CEO Jensen Huang hints at a bold new direction.
Transcript:
CAROLINE WOODS: It’s official—Nvidia is the most valuable company on Wall Street. Shares are trading at record highs and the AI chip giant’s market cap is closing in on 4-trillion, surpassing Microsoft and Apple.
Fueled by the AI boom, Nvidia’s powerful GPUs are in everything—from data centers to ChatGPT. But chips are just the beginning. At the company’s annual shareholder meeting, CEO Jensen Huang said robots are the next big growth driver for the company.
Huang said Nvidia stopped thinking of itself as a chip company a long time ago and that they are working towards a day where there will be “billions of robots, hundreds of millions of autonomous vehicles, and hundreds of thousands of robotic factories that can be powered by Nvidia technology.”
And Wall Street is all in. Nearly 90-percent of analysts rate the stock as a buy, with a median price target of $175—which is more than 10% higher than where it’s currently trading.
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