BNP Paribas raises Nvidia price target to $345 on strong artificial intelligence demand

BNP Paribas has raised its price target on Nvidia to $345 from $285, reaffirming the chipmaker as its top semiconductor pick. The brokerage cited Nvidia's dominance in artificial intelligence computing, which is bolstered by its hardware, CUDA software, and networking portfolio. BNP Paribas expects Nvidia to maintain gross margins above 70%, even as alternative chipmakers and hyperscalers develop custom silicon. The upward revision also highlights Nvidia's positioning to benefit from an industry shift toward inference workloads, where trained artificial intelligence models are deployed at scale.