News News 20 January 2026 - 21 January 2026

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Technology News

  • RBC Initiates Nvidia at Outperform on $500B AI Backlog and Ecosystem Dominance
    January 20, 2026, 8:18 PM EST. RBC Capital Markets starts coverage on NVIDIA (NVDA) with an Outperform rating and a $240 target, pointing to a $500B+ AI backlog and ecosystem dominance as the core catalysts. Analyst Srini Pajjuri notes sustained AI infrastructure spend and elevated cloud capex over the next 12-18 months, led by hyperscalers. The note sees Nvidia's full-stack leadership across data centers, autonomous systems and cloud services, with competition acknowledged but deemed manageable. While risks include macro shifts and regional demand, offsets from sovereign projects and China are anticipated. The firm cautions about valuations but remains constructive on Nvidia's position in the AI cycle.