Investors are eagerly anticipating Nvidia’s major GTC conference this week, which could provide a much-needed boost to the company’s stock following a recent 20% decline. The conference will focus on updates regarding the rollout of the next-generation Blackwell GPU and other key initiatives. Led by CEO Jensen Huang, the annual GPU Technology Conference kicked off on Monday in San Jose, featuring a keynote speech expected to deliver crucial insights on chip sales and company projects.
With Nvidia’s stock trading at around $119 on Monday, down from a high of $149.42 in January, analysts are looking to the conference as a potential catalyst for a positive market response. Louis Navellier of Navellier & Associates expressed optimism, anticipating significant announcements on quantum computing advancements and AI processing speed during the event.
Bank of America raised its price target for Nvidia stock to $200 ahead of the conference, citing expectations for updates on Blackwell, robotics, and quantum computing projects. Analysts are particularly interested in developments related to Nvidia’s partnership with GM, chip demand in China, and growth projections for 2026. Despite short-term uncertainties related to China, the bank maintains a “buy” rating for the stock.
Melius Research also reiterated a “buy” rating, foreseeing a demonstration of Nvidia’s technology adoption by major cloud companies and enterprises at the conference. The company might unveil the Blackwell Ultra, potentially boosting confidence in Nvidia’s quarter-over-quarter growth potential.
Looking at Nvidia’s financial performance, Ben Reitzes from Melius Research highlighted the company’s significant income and revenue growth in recent years, contrasting it with the current stock price decline. He drew parallels to historical trends in the tech industry and suggested a positive outlook for Nvidia’s future trajectory.
Senior analyst Stacy Rasgon from Bernstein Research shared a bullish sentiment on Nvidia stock ahead of the GTC conference, anticipating further positive developments.
The company is set to provide important updates on Blackwell and Rubin, the chip that follows Blackwell in Nvidia’s product lineup. Analyst Rasgon suggested that updates on Blackwell could have a significant impact, believing it could mark the most important product cycle in the company’s history. He noted that historically, when investors bought Nvidia at similar valuation levels over the past decade, they generally saw positive gains over the following 12 months. Rasgon expressed his confidence in the current valuations during an interview with CNBC last week. Recently, investors have been concerned about the competitiveness of the AI sector, particularly after a Chinese startup, DeepSeek, claimed to have developed an AI model to rival its US counterparts using older and more affordable GPUs for training. Additionally, mega-cap tech stocks have been among the hardest hit by the recent market volatility stemming from trade tensions, which led to a correction in the S&P 500 last week. (Reference: Business Insider)
