Goldman Sachs remains bullish on Nvidia stock, as evidenced by the soaring NVDA price target by the firm. According to recent updates, Goldman Sachs has raised the price target of NVDA to $150 from its previous forecast of $135 a share. Meanwhile, it also comes as the chipmaker’s stock noted a surge in the pre-market trading today, signaling a potential rally in AI coins ahead.
Goldman Sachs Raises Nvidia Stock Price Target
Goldman Sachs has maintained a bullish stance on Nvidia Stock, citing the firm’s strong competitive position in the AI chip sector. Following a recent investor meeting with CEO Jensen Huang and other top executives of the firm, Goldman has raised its NVDA price target to $150, up from its previous estimate of $135. Notably, the bank has highlighted the firm’s robust role in handling complex interference workloads, which are crucial for AI applications.
According to reports, Goldman Sachs analysts expressed confidence in the chipmaker’s future potential. Its high-performance chips and the growing appreciation in the tech world have positioned it as a leader in the AI sector. Besides, this sentiment is also echoed in the equity market, where NVDA stock price soared over 1% today in pre-market hours to $136.32.
Meanwhile, the price surge indicates the firm’s potential to maintain its leading position in the AI space. Besides, the soaring demand for its product in various sectors like cloud computing, autonomous vehicles, crypto mining, and others, have helped gains in its stock price.
However, amid the stock price surge, investors are eyeing its potential impact on top AI Coins. Usually, any positive developments in the artificial intelligence sector tend to boost the AI Coins’ price.
AI Coins To Rally?
The rising price of Nvidia stock could bolster market confidence towards AI crypto. Often, the performance of leading AI coins correlates with Nvidia’s stock movements due to the chipmaker’s role in AI technology development. As Nvidia’s shares soar, it could fuel renewed interest and investment in AI-related digital currencies.
Given Nvidia’s dominance in the AI chip industry, a bullish outlook on the company often translates into increased enthusiasm for AI coins like NEAR Protocol, Artificial Superintelligence Alliance (FET), Render, and others.
For instance, NEAR price soared more than 3% today and exchanged hands at $4.87, while its trading volume rose 39% to $281.97 million. On the other hand, the FET price jumped over 4% to $1.50, while Render price soared over 6% to $5.62.
Simultaneously, Injective price noted gains of over 6% to $21.63, and its trading volume was up 70% to $92.17 million. The Graph price surged nearly 8% at the same time, with its trading volume rising 92% to $111.36 million over the last 24 hours.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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