Shares of Nvidia (NVDA.O) rising 2.3% to a record high, lifting the AI heavyweight chipmaker’s market value to $4.52 trln after Citigroup raised its forecasts for Big Tech spending on AI
Citi raised its NVDA PT to $210 from $200, vs current price of $186.90 Citi analysts raised forecast for AI-related infrastructure spending by tech giants to surpass $2.8 trln through 2029, up from $2.3 trln estimated earlier, citing aggressive early investments by hyperscalers and growing enterprise appetite
With Tues’ gains, NVDA now up 39% YTD
NVDA trading at ~32x forward earnings, below its five-yr forward PE of 40x, per LSEG

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Nvidia's shares rose 2.3%, pushing its market cap to a record $4.52 trillion. Citigroup raised its price target for Nvidia to $210 from $200, citing increased forecasts for AI-related infrastructure spending by tech companies, now expected to exceed $2.8 trillion by 2029. Year-to-date, Nvidia's stock is up 39%, trading at approximately 32 times forward earnings, below its five-year average of 40 times.

- Nvidia's shares rose 2.3% to a record high, increasing its market value to $4.52 trillion after Citigroup raised its forecasts for Big Tech spending on AI.  
- Citigroup increased its price target for Nvidia to $210 from $200, while forecasting AI-related infrastructure spending by tech giants to exceed $2.8 trillion through 2029.  
- Year-to-date, Nvidia's stock has gained 39%, trading at approximately 32 times forward earnings, which is below its five-year forward price-to-earnings ratio of 40 times.  

Reuters

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BUZZ-Nvidia market cap hits record $4.52 trln