NVIDIA (NVDA)’s GPU tech conference next week is expected to emphasize the rising impact of generative artificial intelligence and omniverse digital twins on various end-markets, BofA Securities said Tuesday in a report.
BofA lifted its price objective on Nvidia to $1,100 from $925 and maintained its buy rating on the stock before the conference on March 18-21 in San Jose, California.
BofA expects the conference to showcase the “opportunity to re-architect” $1 trillion to $2 trillion of global computing infrastructure with accelerators, leading to an annual market of $250 billion to $500 billion over the next three to five years, compared with the prior $250 billion forecast.
The conference is also expected to discuss a monetization update across recurring software and services and increasing enterprise use cases and demand from various countries and regions, the report said.
“AI is critical in countries developing tools to assist in applications such as cyber security, academic research, climate initiatives and much more,” BofA said.