Nvidia Corp (NASDAQ:NVDA) and peer semiconductor stocks, including Advanced Micro Devices, Inc (NASDAQ:AMD), are trading lower Monday following strength in the first half of 2024, driven by AI momentum.
Nvidia faces upcoming charges from French antitrust regulators. The charges allege anti-competitive practices, marking the first instance of such enforcement against Nvidia, Reuters reported.
French authorities initiated dawn raids in the graphics cards sector last September, explicitly targeting Nvidia. These raids culminated in a statement of objections and a formal charge sheet against the company.
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Since the release of the generative AI application ChatGPT late last year, Nvidia's chip demand has surged, prompting increased regulatory scrutiny on both sides of the Atlantic. The company's dominant position in the AI and computer graphics chip market has drawn attention from antitrust authorities.
Morgan Stanley analyst Joseph Moore maintained Nvidia with an Overweight and raised the price target from $116 to $144.
Moore highlighted the catalyst path remained strong as the surge in H20 builds and demand removed any concern about a pre-Blackwell platform pause.
The data points he discussed in his two Asia notes and his U.S. checks remained robust. However, it was clear the market was at the tail end of the Hopper cycle, and the frothiness and visibility were lower than it was — and given the enthusiasm that Moore was hearing for the Blackwell platform, lower than it would be.
Still, he noted demand side indications remained robust for Hopper. Hopper builds continued to go up as H100 transitions to H200, and Moore was confident sales of both products would remain strong.
Moore's numbers for the next couple of quarters have not changed, but as the Blackwell platform visibility grows, he was increasing his data center estimates for calendar year 2025 to about 35% growth.
NVDA, AMD Price Actions: Nvidia shares traded lower by 0.44% to $123.07 at the last check Monday. AMD is down 3.78% at $156.18.
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受人工智能勢頭推動，英偉達公司（納斯達克股票代碼：NVDA）和包括先進微設備公司（納斯達克股票代碼：AMD）在內的同行半導體股票在2024年上半年走強，週一走低。
英偉達即將面臨法國反壟斷監管機構的指控。路透社報道，這些指控指控存在反競爭行爲，這標誌着首次對Nvidia進行此類執法。
去年9月，法國當局發起了對顯卡領域的黎明襲擊，明確針對的是Nvidia。這些突襲行動最終形成了一份反對聲明和一份針對該公司的正式指控表。
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自去年年底發佈生成式人工智能應用程序 ChatGPT 以來，英偉達的芯片需求激增，這促使大西洋兩岸加強了監管審查。該公司在人工智能和計算機圖形芯片市場的主導地位引起了反壟斷機構的關注。
摩根士丹利分析師約瑟夫·摩爾維持英偉達增持，並將目標股價從116美元上調至144美元。
摩爾強調，隨着20年下半年的增長和需求的激增，人們對Blackwell平台暫停前的任何擔憂都消失了，催化劑路徑仍然強勁。
他在兩份亞洲報告和美國支票中討論的數據點仍然強勁。但是，很明顯，市場正處於Hopper週期的尾聲，泡沫和能見度也低於以前——考慮到摩爾聽到的對Blackwell平台的熱情，也低於預期的水平。
儘管如此，他指出，Hopper的需求方跡象仍然強勁。隨着上半年向上半年的過渡，Hopper的產量繼續增長，摩爾相信這兩款產品的銷售將保持強勁。
摩爾在接下來的幾個季度的數字沒有變化，但隨着Blackwell平台知名度的提高，他正在將2025日曆年的數據中心估計值提高到約35％的增長。
NVDA，AMD價格走勢：英偉達股價在週一的最後一次檢查中下跌0.44％，至123.07美元。AMD下跌3.78％，至156.18美元。
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