Nvidia, AMD Seen As Top Beneficiaries Of Saudi AI Push -- Market Talk
Dow Jones
May 14, 2025
1039 ET - BofA Securities says Nvidia and Advanced Micro Devices are top beneficiaries of multi-year AI infrastructure projects with HUMAIN, a subsidiary of the Saudi Arabia Public Investment Fund, announced on Tuesday. The analysts reiterate buy ratings on both, as well as Broadcom and Marvell Technology, along with smaller optical connectivity vendor Coherent, noting that despite being more crowded these vendors are exposed to the modest dependable/secular demand for AI deployments by factors including well-funded hyperscale/cloud customers. The analysts raise their price objective for Nvidia to $160 from $150, while AMD gets bumped up to $130 from $120. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
May 14, 2025 10:39 ET (14:39 GMT)
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