Nvidia stock continues upward march as analysts boost targets on surging AI chip demand
By Aditya Bhagchandani Published on June 26, 2025, 20:04 IST
Nvidia (NASDAQ: NVDA) shares climbed another 1.1% in early trading on Thursday, extending gains after hitting a record high above $154 the previous day. The rally comes on the back of renewed bullishness across Wall Street for the AI chip sector.
Loop Capital analyst Ananda Baruah raised his Nvidia price target to $250 on Wednesday—the highest among Wall Street analysts currently tracked by Yahoo Finance. Baruah's target implies Nvidia's market capitalization could reach a staggering $6 trillion in the coming years. He predicts the total addressable market for AI chips could surge to $2 trillion by 2028.
Baruah said, 'We are entering the next 'Golden Wave' of Gen AI adoption and Nvidia is at the forefront of another material leg of stronger-than-anticipated demand.' He cited emerging demand from governments, significant commitments from Big Tech hyperscalers, and the rollout of Nvidia's latest Blackwell AI chips.
Bank of America's Vivek Arya also weighed in, forecasting AI chip demand could reach $650 billion by 2030, up from $201 billion in 2025. Arya called Nvidia the 'key beneficiary,' citing its clear technological lead over new entrants.
Adding further momentum, Micron Technology (NASDAQ: MU), a key Nvidia supplier, reported better-than-expected Q3 earnings, driven by strong demand for AI-related memory chips.
Despite some investor concerns about monetization challenges and growing competition from emerging AI firms like China's DeepSeek, Nvidia continues to ride the AI investment wave that has driven its valuation higher through 2025.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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