Key Takeaways
- NVDA shares climbed 0.5% in premarket Wednesday to $185.60, following a 1.2% advance in the prior session
- The GTC developer conference takes place March 16–19, with expectations for new hardware reveals including potential inference chip announcements
- Thinking Machines Lab, an AI startup, plans to deploy a minimum of one gigawatt worth of Nvidia’s Vera Rubin hardware following a significant investment
- Major firms including UBS, Truist, and Bank of America maintain Buy ratings with price targets ranging from $245 to $300
- Analyst consensus stands at Strong Buy with 38 Buy ratings and one Hold rating, featuring an average price target of $273.61 — representing approximately 48% potential upside
Nvidia shares moved higher Wednesday as supply chain worries subsided and investor focus turned toward the company’s annual GTC developer conference scheduled for March 16–19.
NVDA shares added 0.5% in premarket activity to reach $185.60, extending the 1.2% advance from Tuesday’s regular session. Broader market indexes also posted modest gains.
Wall Street analysts are monitoring the GTC event closely. The company is anticipated to showcase new hardware products, with possibilities including a chip designed specifically for AI inference applications.
UBS analyst Timothy Arcuri views GTC as an event that should reinforce investor confidence regarding system scalability and Nvidia’s dominant position in networking technology, though he considers it unlikely to fundamentally shift the investment thesis.
Arcuri highlighted that Nvidia has become the chip-networking sector’s revenue leader. The company projects its networking sales run-rate by year-end will exceed the total historical cumulative revenue of every other competitor in the industry combined.
Co-packaged optics represents another focal point for analysts — this technology integrates optical engines directly with chips to enable rapid data transmission. Nvidia recently committed $2 billion investments in both Coherent and Lumentum, optical component manufacturers, alongside multibillion-dollar supply agreements.
Arcuri maintained his Buy rating alongside a $245 price target for NVDA.
Truist analyst William Stein seeks verification that Nvidia will deliver its next-generation Vera Rubin hardware in significant volumes throughout the second half of 2025. Additional details on the post-Rubin Feynman chip architecture remain on his watchlist.
Stein characterized GTC as a “positive catalyst” and anticipates management will demonstrate alignment across supply, production, and demand factors. His Buy rating carries a $283 price target.
Thinking Machines Agreement Builds Pre-GTC Enthusiasm
Before the conference begins, Nvidia received positive news through a partnership announcement with AI startup Thinking Machines Lab. The company, headed by former OpenAI executive Mira Murati, plans to deploy a minimum of one gigawatt of Vera Rubin hardware.
Nvidia confirmed making an investment in Thinking Machines, while keeping financial details confidential. CEO Jensen Huang previously indicated that a one-gigawatt data center represents approximately $35 billion in hardware expenditure. Deployment is scheduled to commence early next year as part of a multiyear partnership.
Bank of America Focuses on Long-Term Product Strategy Through 2028
Bank of America analyst Vivek Arya maintained a Buy rating accompanied by a $300 price target. His GTC priorities center on three elements: a refreshed product roadmap extending through the Feynman GPU generation in 2028, a broader portfolio of inference and decode products, and specifications regarding proprietary optics in scale-up network architectures.
Arya observed that consensus projections for Nvidia’s data center revenue already approach $750 billion for 2026–27 and near $1 trillion for 2027–28.
The Street holds a Strong Buy consensus rating on NVDA — comprising 38 Buy ratings and one Hold rating. The average analyst price target stands at $273.61, suggesting approximately 48% upside potential from present levels. The stock has surged more than 70% during the past year.
AMD shares rose 0.2% while Broadcom advanced 0.1% in premarket trading Wednesday.
