Nvidia (NASDAQ:NVDA) Plans Israeli Move, Israel Rolls Out Real Estate Red Carpet
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Nvidia recently put out an RFI—a request for information—to determine potential site availability for land to build a new operation near the current one it has in northern Israel. Naturally, such a move would cost billions of dollars, and come with thousands of new jobs, so it is little surprise that Nvidia got its pick of potential build sites.
Nvidia first stepped into the Israeli market back in 2020, when it bought Mellanox Technologies. While Nvidia would not say anything beyond the terms of the RFI, a different source noted that that RFI had brought in '…dozens and dozens and dozens' of offers. Some of them were near the city of Yokne'am, where the Nvidia campus is located. Others are closer to Haifa, the port city adjacent to Yokne'am. And others are in completely different places altogether.
Rising European Challenge
But not every field is quite so accommodating for Nvidia. In fact, Nvidia even has a significant challenge mounting in the artificial intelligence (AI) market from Groq, which recently established a data center in Europe. Groq—not to be confused with similarly-named platform Grok—has a particular edge in its offering: the use of language processing unit (LPU) chips that may make it more than a match for systems powered by graphics processing unit (GPU) chips.
Reports note that Groq is currently installing server racks into said data center, located in Helsinki, Finland. The process is moving along apace, with traffic set to be served to the system within the next three days.
Is Nvidia a Buy, Sell or Hold Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on NVDA stock based on 35 Buys, four Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 18.6% rally in its share price over the past year, the average NVDA price target of $175.97 per share implies 7.8% upside potential.
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