Nvidia is positioned to benefit from a booming AI market, with Citi analysts raising the company's stock target to $190 and projecting the AI data center market to reach $563 billion by 2028. This growth is fueled by sovereign demand and networking opportunities, with Nvidia's Blackwell platform expected to progress smoothly. Meanwhile, Meta's focus on AI, particularly its 'Superintelligence' project, is driving its stock to new highs. In related moves to expand AI capabilities, CoreWeave is acquiring Core Scientific for $9 billion to double its AI data center capacity, and AI startup mergers and acquisitions are at record levels, including Meta's investment in Scale AI and OpenAI's purchase of io. However, not all companies are seeing immediate gains; Samsung's quarterly profits fell by 39% due to slow AI chip sales. Despite this, the Invesco QQQ Trust ETF (QQQ) is expected to benefit from increased AI spending in data centers. On the AI trading front, Olaxbt secured $3.38 million to enhance its AI cryptocurrency trading platform, while an AI-powered stock selection system has demonstrated impressive results, with over 90% of its picks being successful in June. MarketBeat identifies BigBear.ai, Salesforce, ServiceNow, Super Micro Computer, and QUALCOMM as top AI stocks to watch, while SoundHound AI is making progress in voice technology, though its valuation is under scrutiny.
Key Takeaways
- Citi raised Nvidia's stock target to $190, projecting a $563 billion AI data center market by 2028.
- Meta's 'Superintelligence' AI project is driving its stock to record highs.
- CoreWeave is acquiring Core Scientific for $9 billion to expand AI data center capacity.
- AI startup M&A activity is at record levels, including Meta's investment in Scale AI and OpenAI's purchase of io.
- Samsung's quarterly profits dropped 39% due to slow AI chip sales.
- The Invesco QQQ Trust ETF (QQQ) is expected to grow due to increased AI spending in data centers.
- Olaxbt received $3.38 million to improve its AI cryptocurrency trading platform.
- An AI stock selection system achieved over 90% successful picks in June.
- MarketBeat highlights BigBear.ai, Salesforce, ServiceNow, Super Micro Computer, and QUALCOMM as AI stocks to watch.
- SoundHound AI is advancing in voice technology, but its valuation is being questioned.
Citi raises Nvidia stock target on AI market growth
Citi increased its price target for Nvidia stock to $190, due to a larger market for AI data center semiconductors. They expect the AI data center market to reach $563 billion by 2028, driven by sovereign demand and networking opportunities. Citi also anticipates smooth progress for Nvidia's Blackwell platform. However, potential U.S. export restrictions pose a risk.
Nvidia's stock soars as Citi predicts AI boom
Citi analysts are very positive about Nvidia, raising the company's stock price target to $190. This is because they see a big increase in the need for AI infrastructure, especially from governments. Citi expects Nvidia to play a key role in building AI systems worldwide. They predict Nvidia's data center revenue will keep growing, with networking sales rising significantly.
Nvidia's AI market expands says Citi, raises stock target
Citi has increased its price target for Nvidia stock to $190, seeing a growing market for Nvidia's AI business. This growth is driven by countries building their own AI infrastructure. Citi expects the AI market for Nvidia's data centers to reach $563 billion by 2028. Nvidia's Blackwell platform is also progressing well, with rapid deployment.
SoundHound AI voice tech future or overvalued stock
SoundHound AI is making progress in voice technology, but some wonder if its stock is worth the price. The company focuses on improving how people use voice commands with devices. Experts say SoundHound's technology could change how we interact with technology. However, some are concerned that the company might be overvalued, which could be a risk for investors.
Samsung's profit drops amid slow AI chip sales
Samsung's quarterly profits fell by 39% because of slow sales of AI chips. This shows the challenges Samsung faces in the competitive AI technology market. Experts suggest Samsung should focus on other technologies like quantum computing. The drop in profits could change the tech industry, giving other companies opportunities.
QQQ ETF boosted by AI growth potential
The Invesco QQQ Trust ETF (QQQ) is expected to grow due to increased AI spending in data centers. This could lead to new highs for the ETF, which is heavily invested in major tech companies. QQQ provides a way to invest in the AI boom, with a history of strong gains. Despite being focused on tech, QQQ is a good option for investors seeking AI benefits.
Olaxbt gets $3.38M to grow AI trading platform
Olaxbt, an AI cryptocurrency trading platform, received $3.38 million in funding. The money will help improve Olaxbt's AI trading platform, using its MCP technology. This technology aims to make cryptocurrency trading more efficient and smart. The investment shows growing interest in AI-driven trading solutions.
AI startup deals hit record highs in volume and value
AI startup mergers and acquisitions (M&A) have reached record levels, with deal values up 288% in 2024. The number of deals also increased by 53% compared to the previous year. Big companies are buying smaller AI startups to gain their technology. Recent acquisitions include Meta's investment in Scale AI and OpenAI's purchase of io.
Meta's AI 'Superintelligence' pushes stock to new highs
Meta Platforms' stock is reaching record highs because of its focus on AI, especially its 'Superintelligence' project. Mark Zuckerberg's vision is to create AI systems that are smarter than humans in many areas. Meta is investing heavily in AI and hiring top talent to lead this effort. Analysts are positive about Meta's stock, expecting it to continue to rise.
AI stock picks for July show big potential gains
An AI-powered stock selection system has shown impressive results, with many winning picks. In June, over 90% of its stock picks were successful, with some stocks gaining over 24%. One stock, Bausch Health Companies, increased by over 45% in June alone. Since November 2023, the AI's tech-focused strategy has more than doubled investors' money, outperforming the S&P 500.
CoreWeave buys Core Scientific for $9B to expand AI
CoreWeave is buying Core Scientific for $9 billion to double its AI data center capacity. This deal will help CoreWeave provide more GPU services. Cloud companies are building many new data centers to meet the growing demand for AI. Core Scientific, originally a bitcoin mining company, is now focusing on AI data centers. The deal is expected to be completed by the end of 2025.
Top AI stocks to watch now in July
MarketBeat's stock screener tool highlights five Artificial Intelligence stocks to watch: BigBear.ai, Salesforce, ServiceNow, Super Micro Computer, and QUALCOMM. These companies develop AI products and services like machine learning and robotics. Investors like AI stocks because of their potential for growth, but they can also be risky. These companies have had the highest trading volume in recent days.
Sources
- Nvidia stock target boosted at Citi on expanded AI TAM By Investing.com
- Citi lifts Nvidia's price target on booming sovereign AI demand
- Citi raises price target on Nvidia, citing expanding AI opportunity
- SoundHound AI: Future of Voice Interaction or Overvalued Investment?
- Samsung Experiences 39% Dip in Quarterly Profit Amid Slow AI Chip Sales
- QQQ: A Growth ETF With An AI Catalyst (Rating Upgrade) (NASDAQ:QQQ)
- Olaxbt Secures $3.38 Million for AI Trading Platform
- AI Startup M&A Deal Volume and Valuation Hit Records
- ‘Superintelligence’ Takes Meta Platforms to Record Highs. Should You Buy META Stock Here?
- Up 110%+, our AI-powered stock picks for July are out: See them now By Investing.com
- CoreWeave acquires Core Scientific for $9 billion in AI data center race
- Top Artificial Intelligence Stocks To Follow Now