Wolfe Research Reaffirms Nvidia Top AI Chip Buy Pre-Earnings, Hedge Funds Ride AI Hardware Surge

Wolfe Research on May 14 named Nvidia its best AI chip stock ahead of May 20 earnings, raising estimates amid rebounding hyperscaler capex and agentic AI demand, despite Nvidia's 28% six-week gain lagging peers. This caps a bullish week with Susquehanna hiking PT to $275, Citi at $300 after a $223.75 record high, BofA projecting $1.7T AI data-center TAM by 2030, and hedge funds posting record April gains from $670B hyperscaler spending. Momentum builds on Q4's $68.1B revenue (+73% YoY), $78B Q1 FY2027 guidance (+73-80% YoY), tempered by SOX RSI at 85.54 and Palantir's post-beat drop.