Bank of America maintained its 350-dollar price target for Nvidia, implying 50% to 59% upside from the current 219.74 dollars. Nvidia agreed to guarantee up to 105 billion dollars in lease contracts for an OpenAI data center in Ohio, located on a former Cold War-era uranium enrichment site. The bank estimates the market undervalues Nvidia by 34% to 50% due to risks tied to its role as an AI ecosystem financier. Nvidia earnings are due on August 26, with near-unanimous analyst support (36 out of 37 Buy ratings) and a consensus target of 309.94 dollars.
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