Nvidia rises as Citi sees data center upside on 'strong' AI demand
Justin Sullivan

Nvidia (NASDAQ:NVDA) shares rose more than 1% in pre-market trading on Thursday as Citi previewed the coming quarterly results and said it foresees upside to the company's data center results due to "strong" demand for artificial intelligence.
Analyst Atif Malik, who maintained his buy rating and $520 price target on Nvidia (NVDA), said data center sales for the coming quarter could rise 90% year-over-year and 12% sequentially, compared to the 87% and 12% that Wall Street is expecting.

Malik added that investors are focused on the accelerating demand as well as supply and the "sustainability" of China data center demand. "While the supply is finite, we are not overly concerned," Malik wrote in an investor note.
A consensus of analysts estimate that Nvidia (NVDA) will earn $2.08 per share on $11.06B in revenue during the second-quarter when it reports on August 23.


More on Nvidia

Nvidia: Buying Starts Ahead Of Earnings (Technical Analysis Update)
Nvidia Stock: Near-Term Sell Or Avoid On Present Value
Nvidia Eats Away At Intel And AMD Market Share
Nvidia: Mixed Outlook From Super Micro Computer And Taiwan Semi Q2 Earnings
Nvidia continues run as Wall Street continues to praise ahead of Q2 results
Nvidia likely to see AI supercycle, Baird says