BofA lifts Nvidia target to $320

Bank of America raised its price target on Nvidia to $320 from $300 on May 13, according to multiple reports summarizing a note from analyst Vivek Arya. The bank kept its Buy rating and increased its 2030 forecast for the AI data-center systems market to about $1.7 trillion from $1.4 trillion, those reports said. The change landed a week before Nvidia’s next earnings report, which is scheduled for May 20. Nvidia shares closed at $225.32 on May 15, according to market data. ### Why did Bank of America move the target now? May 13 was the date of the note that lifted the target, and the bank tied the change to a larger estimate of long-term AI infrastructure spending. Reports on the note said BofA now sees the 2030 AI data-center systems total addressable market at roughly $1.7 trillion, up from $1.4 trillion previously. (finance.yahoo.com) The $300 billion increase in that market estimate appears to be the core change behind the higher target. Third-party summaries of the note said BofA also pointed to accelerating AI sales in 2026 and improving economics in 2027 as newer compute and memory architectures scale. ### What does the $1.7 trillion figure cover? Bank of America described the figure as a forecast for AI data-center systems spending by 2030, according to reports that cited the note. (finance.yahoo.com) Those summaries framed the estimate as covering the broader systems buildout around AI computing, not only Nvidia’s chip sales. The 45% compound annual growth rate cited in social-media commentary could not be independently verified from a primary Bank of America publication available publicly. (finance.yahoo.com) Reports that were accessible publicly did confirm the move to $1.7 trillion from $1.4 trillion and the higher $320 price target. ### How does that compare with Nvidia’s current business? (finance.yahoo.com) Nvidia reported fiscal 2026 revenue of $215.9 billion and fourth-quarter data-center revenue of $62.3 billion, according to its investor relations site. Those figures show why analysts are anchoring valuation debates to data-center demand rather than to Nvidia’s smaller legacy businesses. (finance.yahoo.com) Jensen Huang, Nvidia’s chief executive, has also been laying out a multi-year product roadmap tied to AI infrastructure demand. In January, Nvidia said its Rubin platform would combine the Vera CPU, Rubin GPU and new networking components, and Huang said training and inference demand was “going through the roof.” In February, Nvidia said Meta was deploying Nvidia CPUs, networking gear and “millions” of Blackwell and Rubin GPUs. (investor.nvidia.com) ### Was anything else changed in the note? Reports on the May 13 note said BofA raised earnings estimates for fiscal 2028 and fiscal 2029, though the exact revisions were not available in a public primary-source note. Social-media commentary put that increase at about 7%, but that figure could not be independently confirmed from a publicly accessible Bank of America document. (investor.nvidia.com) The public reporting that was available consistently confirmed three points: the target rose to $320 from $300, the rating stayed Buy, and the 2030 AI data-center market estimate increased to about $1.7 trillion. ### What will investors watch next? May 20 is Nvidia’s next scheduled checkpoint, when the company reports first-quarter fiscal 2027 results at 2 p.m. (thestreet.com) Pacific time, according to its investor relations website. The event page says the company will release results and host a webcast that day. (finance.yahoo.com) At $225.32, Nvidia’s May 15 close left the new Bank of America target about $94.68 above the latest regular-session price. Whether BofA’s bigger market forecast carries through to other analysts’ models is likely to become clearer around that earnings report and the company’s updated guidance. (finance.yahoo.com) (investor.nvidia.com)