Nvidia (NVDA) Stock Rally Seen Just Starting as Huang Unveils AI PC Chip; Goldman Sees 35% Upside

Goldman Sachs analyst James Schneider on June 2 reiterated a Buy rating and $285 price target on Nvidia (NVDA), implying roughly 35% upside, citing a positive catalyst path after CEO Jensen Huang’s Computex keynote on June 1. Huang unveiled a new super PC chip for fall release, targeting Intel (INTC) and AMD (AMD), and outlined an expansive vision for agentic AI. Schneider expects momentum from greater visibility into hyperscaler capital expenditure plans through 2027, Nvidia’s push for Windows on Arm with Microsoft, and its datacenter cost leadership. He also noted Nvidia’s aggressive investment in driving agentic AI adoption. The keynote sent shares of Arm (ARM), IBM (IBM), Hewlett Packard Enterprise (HPE), and ServiceNow (NOW) higher, while Qualcomm (QCOM), AMD, and Intel fell on competitive concerns. DA Davidson holds the highest analyst target at $300.