Nvidia slips even as Goldman says it's entering new phase of GenAI prowess
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Nvidia (NASDAQ:NVDA) shares slipped around 1.5% in mid-day trading on Monday even as investment firm Goldman Sachs reiterated its buy rating and said the company is entering a new phase regarding its prowess in general artificial intelligence.
Analyst Toshiya Hari, who also raised the firm's per-share price target on Nvidia (NVDA) shares to $495 from $440, said the company is seeing a "step-function increase" in its data center revenue outlook, which is evidence of the new phase.

Hari added that while Nvidia (NVDA) has already benefited from traditional AI, as its data center revenue has grown from $129M in fiscal 2013 to $15B in fiscal 2023, the next step up suggests generative AI could boost revenue significantly.
In addition, the analysts boosted their earnings and revenue estimates for Nvidia in its coming fiscal year.