Nvidia (NASDAQ: NVDA) just secured a fresh vote of confidence from Wall Street, with Loop Capital raising its price target from $175 to $250, the highest among major analysts.
The firm continues to rate the stock a Buy, citing Nvidia’s dominant role in the buildout of generative AI infrastructure and what it calls the next “golden wave” of data center spending.
Loop Capital analyst Ananda Baruah estimates that spending on Gen AI hardware and accelerator computing could reach $2 trillion by 2028, driven by hyperscalers and AI-focused data centers.
With Nvidia supplying the most critical components in that pipeline, and little meaningful competition in sight, Loop argues the company is well-positioned to capture a disproportionate share of that growth. On that basis, Baruah believes Nvidia’s market capitalization could stretch to $6 trillion, more than triple its current valuation.
NVDA stock price analysis
Shares of Nvidia closed Tuesday at $147.90, the highest level since January 6. In early premarket trading Wednesday, the stock edged up to $149.04, extending its recent momentum.
NVDA shares are now up 11% year-to-date, and Loop’s revised target implies a further 69% upside from Tuesday’s close.
Baruah acknowledges that a six-trillion valuation may “seem fantastic,” but contends the case is rooted in fundamentals, not fantasy. Nvidia, in his view, remains “essentially a monopoly” in high-end AI, with the pricing power and profit margins to match. The company’s ecosystem, spanning chips, software, and developer tooling, gives it an advantage few others can replicate.
