Wells Fargo Reiterates Overweight Rating on NVIDIA (NVDA) on Latest Grace Hopper Superchip Win

Wells Fargo analyst Aaron Rakers reiterated an Overweight rating and $250.00 price target on NVIDIA (NASDAQ: NVDA) after another supercomputer win for the company's Grace Hopper Superchip.

The analyst commented, "... HPE announced that King Abdullah University of Science and Technology (KAUST) has selected HPE/Cray to build the university's next-gen Shaheen III supercomputer, which will be equipped with 2,816 NVIDIA Grace Hopper Superchips. We highlight this announcement as it represents another win for NVIDIA's Grace Hopper Superchip (expected to launch in 1H2023); continued important validation of the company's CPU + GPU strategy. In addition to the just announced win for KAUST's next- gen supercomputer, below we highlight additional supercomputers that have been announced with planned Grace/Grace Hopper integration."

For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.

Shares of NVIDIA closed at $122.28 yesterday.

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