Citi reiterates buy rating on Nvidia with $315 price target

Citi analyst Atif Malik reiterated a Buy rating and $315.00 price target on Nvidia (NASDAQ: NVDA).

Nvidia announced a $150 billion increase in its share repurchase authorization, bringing total buyback capacity to $235 billion through fiscal year 2028.

The company also announced the Open Agent Safety Platform, which combines OpenShell, an open-source runtime that enforces policy controls on AI agents, with Sentry, a hardware-based monitoring system running on BlueField-4 DPUs designed to detect and stop unauthorized agent behavior in real time.

Nvidia disclosed that a frontier AI lab has contracted 2.6 gigawatts of direct Nvidia AI infrastructure to be shipped through 2028, with total indirect contracted value across multiple cloud service providers and neoclouds exceeding $180 billion.

Malik noted that open-weight AI models now account for roughly 75% of token generation, up from approximately 40% a year ago, while overall token consumption has increased 25 times year-over-year.

The analyst also noted that Nvidia estimates its revenue opportunity per gigawatt has increased from $18 billion with its Hopper architecture to $25 billion with Blackwell and $40 billion with Rubin, reflecting an expanded portfolio that includes CPUs, networking, and AI factory infrastructure.

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