Wedbush reiterated its outperform rating on Nvidia on Friday after a series of meetings with the company's management. The firm said Nvidia's spending on OpenAI and Anthropic covers only a small share of the compute demand it expects ahead.
Wedbush reiterated its outperform rating on Nvidia on Friday, telling clients it's sticking with the stock following a series of meetings with the chipmaker's management.
The firm cited Nvidia's own characterization of what it is investing into OpenAI and Anthropic relative to its total compute needs. According to Wedbush: "just a tiny fraction of what their overall compute needs are going to be".
The reiteration was one of several calls out Friday. Wells Fargo separately downgraded Netflix to underweight from equal weight. Morgan Stanley reiterated Meta, Alphabet and Apple as overweight, citing all three as well positioned for agentic AI.
Source: CNBC
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