BNP Paribas has raised its price target on Nvidia to $345 from $285, keeping an Outperform rating and calling the chipmaker its preferred semiconductor stock. Analyst Karl Ackerman said Nvidia’s broadening AI hardware portfolio and CUDA software ecosystem were unmatched as workloads shift toward agentic AI.

The new target implies about 47 per cent upside from recent levels. Nvidia closed up 2.1 per cent at $238.90 on Monday, a record close valuing the company at about $5.76 trillion. The brokerage expects Nvidia to keep more than three-quarters of the AI compute market in dollar terms and sustain gross margins above 70 per cent despite competition from AMD and custom chips.

Bernstein also maintained a positive view with a $400 price target. Ackerman pointed to the upcoming Vera Rubin platform, which combines GPUs, CPUs and networking into integrated rack-scale systems for complex inference workloads. Foxconn’s record September revenue was cited as another signal of strong AI infrastructure demand.