Nvidia slips even as Erste upgrades on data center strength
BING-JHEN HONG         
Nvidia (NASDAQ:NVDA) sharesÂ slipped fractionallyÂ in pre-market trading on Tuesday even as investment firm Erste upgraded the GPU maker, citing strength in its data center business.
Analyst Hans Engel raised the firm's rating on Nvidia (NVDA) to buy from hold, noting that artificial intelligence is poised to drive sales in its data center business "sharply" higher.
"Revenue and profit growth will accelerate significantly in 2024," Engel wrote in an investor note.
Last week, HSBC upgraded Nvidia (NVDA), noting that the company's pricing power in AI chips is likely to boost earnings considerably higher.