Nvidia could mint $300 billion in AI revenues by 2027, 10 times the expected takings this year, analyst says

Mon, 07/24/2023 - 23:27

jensen huang drive nvidia ces — Jensen Huang, CEO of Nvidia, has seen his net worth double alongside a surge in the company's share price, thanks to the AI boom.
Rick Wilking/Reuters

Mizuho analyst Vijay Rakesh said Nvidia's share price has another 20% upside to run on the AI boom.
He added the chipmaker could generate $300 billion in AI-specific revenue by 2027.
The stock has already doubled so far this year and is trading around $446 apiece.

Chipmaker Nvidia's having a great year with its stock price doubling amid the artificial intelligence, or AI hype — and it could get even better.

Mizuho analyst Vijay Rakesh has given Nvidia's stock price another 20% upside to run — and even this new target of $530 is "conservative," according to a Sunday client note seen by Insider. Rakesh's previous price target for Nvidia was $400.