Nvidia's target stock price was raised by Jefferies.

Jeffries raised the target stock price of NVIDIA (NASDAQ: NVDA) from 135 dollars to 150 dollars, and raised the predictions of AI chip manufacturers.

The company is buying NVIDIA.

Mr. Blaine Curtis, an analyst at Jeffries, received information from Mr. Sherman Shan, who is an analyst at Hoobon, and pointed out that AI basket performance over the past month has been mixed, and Broadcom (AVGO) has joined NVIDIA (NVDA) outperformance. However, the number of investors short selling Advanced Micro Devices (AMD) /Marvel Technology (MRVL) is increasing, and they are trying to add AI exposure to edge AI/mobile.

Analysts believe that it is too early to decide the winners for 2025, but they see growing concerns about AMD's pipeline.

For example, Marvell and Astera Labs (ALAB) are still expected to grow along with Nvidia, but analysts have stated that there is a possibility that NVDA decisions regarding each generation will drastically change that.

Jeffries analysts said they have completed a week of marketing with Mr. Kao and that they plan to meet with Nvidia, Broadcom, Marvell, and Asta management teams on an AI bus tour this week.

Analysts stated that this tour began by actually seeing Nvidia's GB200 NVL and asking a few questions about the company's superiority on this platform, and also stated that they wanted to explore what this transition means for other ecosystems.

Curtis and his team said they emphasized the upsides in Nvidia's entire supply chain that they discovered during a business trip to Asia in mid-May. It was also mentioned that they requested that the production capacity of Blackwell, which is the microarchitecture of the graphics processing unit developed by Nvidia, be increased by about 25% in the latter half of 2024 and increased by about 40%.

Analysts updated these quantities with checks at the time, but they did not reflect this upward correction in their forecasts because they wanted to further check accuracy and understand how this would flow into the GB200 NVL.

After additional checks and input from Fubon's team, Jefferies currently sees the GB200 NVL quantity at 60,000 units (up from 40,000 units) and sees all NVL 36 increase (NVL 36.5 million units, NVL 7.21 million units).

The analyst added that even as this figure increases, it is still below 50 billion dollars in the CY25 bottom-up check.

Jefferies' long-term view on Nvidia: Analysts said industry checks suggest a further rise, and the beat will accelerate to FY26 when Blackwell launches.

Analysts believe that system sales will increase with the launch of GB200, and the competitive horizons will expand further.

It is said that Jeffries analysts raised sales and EPS forecasts, which have already surpassed Street, to 124 billion dollars/2.82 dollars in FY25 and 181 billion dollars/4.23 dollars in FY26, respectively.