Baird analysts increase NVIDIA stock target from $750 to $1050, because of next-gen Blackwell

NVIDIA will have its earnings release tomorrow, but ahead of that, Wall Street is increasing its future NVIDIA share price expectations; now we've got Baird increasing its target price for NVIDIA stock from $750 to $1050.

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Baird's new predictions on NVIDIA shares are very, very favorable for the AI GPU leader, representing a 44% hike from their historic highs already. Baird isn't the only financial firm to do this, last week saw Goldman Sachs increasing their NVIDIA share price target by 28%.

Baird analysts explained: "Per our Asia field trip, demand for NVIDIA's AI solutions remains unabated, with momentum from enterprise customers now rapidly building. Upcoming Blackwell architecture will drive another significant step up in performance, while ASPs will increase as well. TSMC remains on track for a doubling of CoWoS capacity this year which should help supply notably in 2H. GH200 performance is a magnitude higher than x86+H100, driving engagements with hyperscalers and HPC ODMs. CUDA ecosystem remains a major competitive advantage. Raising our estimates and price target on NVIDIA, Outperform rated".

The company is correct: H100 AI GPU shipments are now increasing, something that has been happening in the supply chain for a few months now, with the beefed-up H200 AI GPU right around the corner and delivering some huge gains in AI performance. NVIDIA has its next-gen Blackwell GPU architecture and upcoming B100 AI GPU that is sure to absolutely dominate over every piece of AI silicon on the planet, and it's not far away.

NVIDIA shares are up an incredible 400% since the start of 2023, with the company adding over $700 billion in market capitalization since the beginning of 2024. Incredible results, as that is more than what Tesla's market capitalization, and they're also selling everything they make, and have disrupted the entire automotive industry... and they've got Elon Musk as a CEO.

NVIDIA will unleash its upgraded H200 AI GPU in the coming months, while we are expecting the next-gen Blackwell GPU architecture and B100 AI GPU to be unveiled at NVIDIA's GPU Technology Conference (GTC) event next month. Wall Street is gearing up into it, with NVIDIA share price targets that could be met... or surpassed, which will only ignite more excitement in the industry. We've only got a few more weeks to wait for upgraded AI GPUs, while NVIDIA's earnings call is tomorrow.