Nvidia Stock Hits Record High on China Chip Sales Approval and Analyst Upgrades
Nvidia shares surged to a new all-time high, rising nearly 4.7%, driven by significant positive developments in international trade and analyst sentiment. Reports indicate that major Chinese tech giants, including Alibaba, Tencent, ByteDance, and JD.com, have received approval to purchase Nvidia's H200 AI chips following a high-level summit between President Donald Trump and President Xi Jinping in Beijing. This market re-entry could potentially add $50 billion to Nvidia's revenue, representing a 23% increase over its fiscal 2026 total of $216 billion. Concurrently, Wall Street analysts from Cantor Fitzgerald and UBS raised their price targets for Nvidia stock to $350 and $275, respectively, citing conservative earnings expectations and strong demand that has likely sold out current inventory. The article highlights Nvidia's robust financial position, trading at reasonable forward earnings multiples, and suggests further upside potential as the company capitalizes on renewed access to the lucrative Chinese AI chip market ahead of its upcoming quarterly earnings report.
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