A section of Wall Street analysts has updated their outlook on Nvidia (NASDAQ: NVDA) in the wake of the company’s annual GPU Technology Conference (GTC), running from March 17-21.
During his keynote speech on March 18, Nvidia CEO Jensen Huang declared that artificial intelligence (AI) is at an “inflection point” and predicted the company’s data center revenue would reach $1 trillion by 2028.
He introduced the next-gen Blackwell Ultra and Vera Rubin AI chips, set to launch between 2025 and 2027. Huang emphasized AI’s evolution from perception to generative and now “agentic AI,” capable of reasoning.
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At the same time, Nvidia unveiled Isaac GR00T N1 for humanoid robots, Cosmos AI for video-based AI training, and Halos for autonomous driving safety.
Despite the positive sentiment from the event, Nvidia’s stock price is still struggling, ending the last trading session in the red. Breaching the $120 resistance remains the key next target. As of press time, NVDA was valued at $115.43, down 3.4%.
Analysts turn bullish on NVDA after GTC 2025
Following the event, Wall Street analysts reaffirmed their bullish stance on Nvidia, acknowledging that the company remains a dominant player in the AI space.
Bank of America (BofA) maintained its ‘Buy’ rating with a $200 price target, highlighting Nvidia’s growing competitive moat. Analyst Vivek Arya pointed to strong demand, with 1.8 million Blackwell packages already shipped or ordered, a 900x AI performance boost from upcoming Rubin chips, and advancements in networking with Spectrum-X and Quantum-X switches.
Bernstein also reiterated its ‘Outperform’ rating, keeping its $185 price target. Analyst Stacy Rasgon emphasized that while GTC had no major surprises, Nvidia’s AI dominance remains intact, with a widening lead over competitors. The firm expects Nvidia to capture an increasing share of the projected $1 trillion in data center spending by 2028.
JPMorgan (NYSE: JPM) analyst Harlan Sur reaffirmed an ‘Overweight’ rating on Nvidia with a $170 price target, citing the company’s continued dominance in accelerated computing. Following Nvidia’s keynote at GTC, the firm highlighted the upcoming Blackwell Ultra chipset, set to launch in the second half of 2025 with a 50% boost in compute performance over the current Blackwell platform. JPMorgan believes Nvidia’s aggressive roadmap is strengthening its competitive edge and delivering better economics, keeping the company one to two steps ahead of rivals in the AI and data center space.
Finally, Stifel analysts maintained a ‘Buy’ rating on Nvidia with a $180 price target, highlighting its next-gen AI architectures, Dynamo inference software, and networking advancements unveiled at GTC 2025. With AI infrastructure demand soaring, the firm sees Nvidia as well-positioned to capitalize on the projected $1 trillion annual data center capex by the end of the decade.
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