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Nvidia Surges as Barclays Lifts Price Target on Blackwell Chip Demand
Nvidia Surges as Barclays Lifts Price Target on Blackwell Chip Demand
23
3
Nvidia's stock climbed nearly 2% Monday, approaching record levels after Barclays raised its price target to $200. The bullish outlook stems from accelerating demand for the company's next-generation Blackwell processors, with compute segment revenue now projected to hit $42 billion in Q3—well above consensus estimates.
Production stability offsets slightly lower-than-expected Blackwell wafer output, while sovereign AI deals with Middle Eastern nations help counterbalance $8 billion in anticipated China-related revenue shortfalls this quarter. The Blackwell Ultra systems rollout, expected to drive half of revenue by October, underscores Nvidia's deepening integration in AI infrastructure.
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