Marcin Frąckiewicz

Thursday saw RBC Capital and Truist Financial bump up their price targets on Nvidia. The AI chip giant had just delivered another record-setting quarter, along with a revenue forecast that outpaced most expectations. Nvidia’s role as the market’s go-to gauge for data-center appetite has only grown, thanks to heavy GPU spending by major cloud players looking to power AI models. Custom chips, though, are grabbing attention, with investors scrutinizing whether they could deliver similar results for less money—and those revisions are now squarely in focus.