TLDR
- Nvidia shares climbed 0.5% during premarket trading Wednesday, reaching $185.60, following a 1.2% increase in the prior session
- The company’s GTC developer conference is scheduled for March 16–19, with expectations for new hardware announcements including a potential inference chip
- Nvidia announced an investment in Thinking Machines Lab, which will deploy a minimum of one gigawatt of Vera Rubin hardware
- Major Wall Street firms including UBS, Truist, and Bank of America maintain Buy recommendations with targets ranging from $245 to $300
- Analyst consensus stands at Strong Buy with 38 Buy ratings and a single Hold, featuring an average target of $273.61 — suggesting approximately 48% potential upside
Shares of Nvidia moved higher during Wednesday’s premarket session as supply chain worries diminished and investor focus turned toward the company’s upcoming GTC developer conference, scheduled to run from March 16 through 19.
The stock advanced 0.5% in premarket activity to $185.60, extending Tuesday’s 1.2% rally. Broader equity markets also showed modest gains.
Investors and analysts are closely monitoring the GTC conference. Industry observers anticipate that Nvidia will introduce fresh hardware products, possibly including a specialized chip designed for AI inference applications.
Timothy Arcuri from UBS doesn’t view the GTC event as something that will fundamentally reshape the investment thesis, but believes it should strengthen investor conviction regarding system scalability and Nvidia’s dominance in networking technology.
Arcuri highlighted that Nvidia has become the chip networking industry’s revenue leader. The firm has also projected its year-end networking revenue run-rate will exceed the total combined historical revenue of all competing players in the sector.
Analysts are particularly focused on co-packaged optics — an advanced technology that embeds optical engines directly with chips for high-speed data transmission. Nvidia recently pledged $2 billion investments each to optical component manufacturers Coherent and Lumentum, accompanied by multi-billion dollar supply agreements.
Arcuri maintained his Buy recommendation and $245 price objective for NVDA.
William Stein from Truist is also seeking confirmation that Nvidia will deliver volume shipments of its next-generation Vera Rubin hardware during the latter half of 2025. He’s additionally interested in learning more about the Feynman chip architecture that will follow Rubin.
Stein characterized GTC as a “positive catalyst” and anticipates management will communicate that supply, manufacturing, and demand are properly synchronized. He retains a Buy rating with a $283 price target.
Thinking Machines Deal Adds Pre-GTC Momentum
Prior to the conference, Nvidia received positive news from a partnership announcement with AI startup Thinking Machines Lab. The company, headed by former OpenAI executive Mira Murati, plans to deploy a minimum of one gigawatt of Vera Rubin hardware.
Nvidia also disclosed it has made an investment in Thinking Machines, although specific financial details weren’t revealed. CEO Jensen Huang has previously indicated that a one-gigawatt data center represents approximately $35 billion in hardware expenditure. Deployment is slated to commence early next year as part of a multi-year agreement.
Bank of America Eyes Product Roadmap Through 2028
Vivek Arya from Bank of America confirmed a Buy rating with a $300 price objective. His focus at GTC centers on three key areas: a refreshed product roadmap extending through the Feynman GPU generation in 2028, an enhanced portfolio of inference and decode products, and specifications regarding proprietary optics in scale-up networks.
Arya observed that Wall Street consensus for Nvidia’s data center segment already approaches $750 billion for the 2026–27 period and nears $1 trillion for 2027–28.
The overall Wall Street sentiment reflects a Strong Buy consensus for NVDA — comprising 38 Buy ratings and one Hold. The mean price target stands at $273.61, indicating roughly 48% upside potential from present levels. The stock has surged more than 70% in the past twelve months.
AMD shares rose 0.2% while Broadcom advanced 0.1% during Wednesday’s premarket session.
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