Nvidia's next-generation AI processor 'Blackwell' is sold out for the next 12 months.
Nvidia's executives announced that production of their next-generation artificial intelligence (AI) processor, 'Blackwell,' is progressing as planned, with the next 12 months' worth of products already sold out. This was revealed during a meeting with investment bank Morgan Stanley led by the company's CEO Jensen Huang and management.
Morgan Stanley analyst Joseph Moore stated in a client memo, "All information from the management indicates that we are still in the early stages of a long-term AI investment cycle." He also mentioned, "From the current situation, it is expected to have extremely strong growth by 2025," reaffirming an 'Overweight (buy recommendation)' rating for Nvidia with a set price target of $150.
Other Wall Street analysts are also maintaining a bullish stance. Evercore ISI analyst Mark Lipacis is keeping the 'Outperform (buy recommendation)' rating and has set a price target of $150. Lipacis, based on the results obtained at the 'Nvidia AI Summit' held in Washington D.C. this week, stated in a client note, "There are 8 partners ready to launch the Blackwell system into the market, expected to reach mass production by the fourth quarter of 2024."
Bob Pette, Vice President and General Manager of Enterprise Platforms at Nvidia, highlighted during the summit's keynote address how Nvidia's acceleration computing technology is transforming many industries including healthcare, cybersecurity, and manufacturing.
Morgan Stanley analyst Joseph Moore stated in a client memo, "All information from the management indicates that we are still in the early stages of a long-term AI investment cycle." He also mentioned, "From the current situation, it is expected to have extremely strong growth by 2025," reaffirming an 'Overweight (buy recommendation)' rating for Nvidia with a set price target of $150.
Other Wall Street analysts are also maintaining a bullish stance. Evercore ISI analyst Mark Lipacis is keeping the 'Outperform (buy recommendation)' rating and has set a price target of $150. Lipacis, based on the results obtained at the 'Nvidia AI Summit' held in Washington D.C. this week, stated in a client note, "There are 8 partners ready to launch the Blackwell system into the market, expected to reach mass production by the fourth quarter of 2024."
Bob Pette, Vice President and General Manager of Enterprise Platforms at Nvidia, highlighted during the summit's keynote address how Nvidia's acceleration computing technology is transforming many industries including healthcare, cybersecurity, and manufacturing.
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