NVDA - Reiterate Buy; raise PT to $307 following great Q1 result & Q2 outlook

研报英文原文证据摘录

NVDA - Reiterate Buy; raise PT to $307 following great Q1 result & Q2 outlook

Truist Securities

Company Description

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It

operates through the following segments: Graphics Processing Unit (GPU) and Compute & Networking. The Graphics segment includes

GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, Quadro and NVIDIA RTX GPUs

for enterprise workstation graphics, virtual GPU, or vGPU, software for cloud-based visual and virtual computing, automotive platforms for

infotainment systems, and Omniverse Enterprise software for building and operating metaverse and 3D internet applications. The Compute

& Networking segment consists of Data Center accelerated computing platforms and end-to-end networking platforms including Quantum

for InfiniBand and Spectrum for Ethernet, NVIDIA DRIVE automated-driving platform and automotive development agreements, Jetson

robotics and other embedded platforms, NVIDIA AI Enterprise and other software, and DGX Cloud software and services. The company

was founded by Jen Hsun Huang, Chris A. Malachowsky, and Curtis R. Priem in April 1993 and is headquartered in Santa Clara, CA.

Investment Thesis

We view NVDA as *the* AI company: a sustainable leader in massive parallel and heterogeneous compute chips, software, and recently

services, to enable AI & related applications. We see NVDA's leadership as driven less by the raw performance of its chips, and more by

its culture of innovation, ecosystem of incumbency, and massive investment in software, AI models, and services, that we believe makes

its chips a default choice for most engineers building AI systems.