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[
  {
    "id": 37100544,
    "author": "Shanthi Rexaline",
    "created": "Tue, 13 Feb 2024 13:25:36 -0400",
    "updated": "Tue, 13 Feb 2024 13:25:37 -0400",
    "title": "Nvidia, AMD, Broadcom Among Biggest Beneficiaries Of AI Explosion To $400B Market: Analysts",
    "teaser": "Mizuho predicts a market estimate of $400 billion for AI by 2027. One analyst said this company will likely win the AI race.",
    "body": "<p>Mizuho Securities bumped up its price target for chipmakers leveraging artificial intelligence (AI), even as most of these stocks have run up sharply for the <a href=\"https://www.benzinga.com/news/24/02/37066704/nvidias-push-for-ai-advances-promises-lower-costs-challenges-7t-chip-initiative\">year-to-date period</a>.</p>\n\n\n\n<p><strong>Strong Ramp-Up: </strong>AI chip demand is likely to ramp up steadily in the first half of 2024 before accelerating further in the second half, said analyst <strong>Vijay Rakesh </strong>in a note. </p>\n\n\n\n<p>Ahead of <strong>Nvidia Corp.&#8217;s</strong> (NASDAQ:<a class=\"ticker\" href=\"https://www.benzinga.com/stock/NVDA#NASDAQ\">NVDA</a>) quarterly results, due on Feb. 21, and <strong>Broadcom, Inc.&#8217;s </strong>(NASDAQ:<a class=\"ticker\" href=\"https://www.benzinga.com/stock/AVGO#NASDAQ\">AVGO</a>), due on March 7, channel checks revealed tight supplies of former&#8217;s H100 AI accelerator chipset despite lead times contracting. </p>\n\n\n\n<p>That said, &#8220;overall demand far outstrips supply,&#8221; the analyst said.</p>\n\n\n\n<p>The analyst also noted that original design manufacturer <strong>Super Micro Computer, Inc. </strong>(NASDAQ:<a class=\"ticker\" href=\"https://www.benzinga.com/stock/SMCI#NASDAQ\">SMCI</a>) said demand was up 40% from the second half of 2023, potentially reflecting AI ramps. </p>\n\n\n\n<p>Nvidia&#8217;s impending B100 launch bodes well for the company&#8217;s 2024 guidance, he added.</p>\n\n\n\n<p>Nvidia teased the new B100 Blackwell graphics processor last year. The company will reportedly more than double the performance of the newly announced H200.</p>\n\n\n\n<p><em>See Also: <a href=\"https://www.benzinga.com/money/best-artificial-intelligence-stocks\">Best Artificial Intelligence Stocks</a></em></p>\n\n\n\n<p><strong>Booming AI Market:</strong> Rakesh referred to Mizuho&#8217;s market potential estimate of $400 billion for AI by 2027. The analyst said Nvidia will likely win the AI race and therefore raised his 2025 AI revenue estimate for the company from $120 billion to $92 billion, ahead of the Street estimate of $80 billion. In 2027, AI revenue will likely ramp up to $280 billion, he said.</p>\n\n\n\n<p><a href=\"https://www.benzinga.com/news/earnings/24/01/36874612/amd-ceo-highlights-huge-ai-opportunity-its-going-to-change-everything-we-do\">For AMD,</a> the analyst estimates AI revenue of $18 billion by 2027, up from an estimated $3.5 billion+ in 2024. He also expects <strong>Intel Corp.&#8217;s </strong>(NASDAQ:<a class=\"ticker\" href=\"https://www.benzinga.com/stock/INTC#NASDAQ\">INTC</a>) AI revenue to increase from an estimated $2 billion+ in 2024 to $10 billion. </p>\n\n\n\n<p>Broadcom&#8217;s AI revenue will likely grow from $8 billion in 2024 to $20 billion in the calendar year 2027, thanks to its custom ASIC AI portfolio, Rakesh said.</p>\n\n\n\n<p>The analyst is also positive on <strong>Credo Technology Group Holding Ltd </strong>(NASDAQ:<a class=\"ticker\" href=\"https://www.benzinga.com/stock/CRDO#NASDAQ\">CRDO</a>). Total cost of ownership is a positive for the company, given it drives 50% lower Data Center power in AI/Compute server racks.</p>\n\n\n\n<p>&#8220;We continue to see NVDA as the best AI/ML play, pushing the tip of the spear in AI training performance, as it hosts GTC 2024 on 3/18-21,&#8221; the analyst said, adding &#8220;We see NVDA, AVGO, CRDO, AMD and INTC driving a strong AI wave.&#8221;</p>\n\n\n\n<p><strong>Semiconductor Price Target Revisions: </strong>The analyst maintained Buy ratings on Nvidia, AMD, Intel, Broadcom and Credo Technology. The upward adjustments to the price targets for the stocks are as follows:</p>\n\n\n\n<ul>\n<li>Nvidia: from $625 to $825</li>\n\n\n\n<li>AMD: from $175 to $200</li>\n\n\n\n<li>Broadcom: from $1,250 to $1,450</li>\n\n\n\n<li>Credo Technology: from $25 to $28</li>\n</ul>\n\n\n\n<p>Rakesh maintained his price target for Intel at $55.</p>\n\n\n\n<p><strong>Semiconductor Price Action: </strong>According to <a href=\"https://benzinga.grsm.io/lxquj26b2sag\">Benzinga Pro data:</a></p>\n\n\n\n<ul>\n<li>Nvidia last traded up 0.93% at $729.18.</li>\n\n\n\n<li>AMD rose 0.17% at $172.20.</li>\n\n\n\n<li>Broadcom fell 1.53% to $1,245.66.</li>\n\n\n\n<li>Credo Technology moved down 2.18% to $21.98.</li>\n\n\n\n<li>The <strong>Philadelphia Semiconductor Index </strong>(NASDAQ:<a class=\"ticker\" href=\"https://www.benzinga.com/stock/SOXX#NASDAQ\">SOXX</a>) slipped 1.20% to $620.76.</li>\n</ul>\n\n\n\n<p><em>Read Next: <a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37005660/no-imminent-ai-bubble-burst-says-munster-we-are-at-the-start-of-3-5-year-tech-run\">No Imminent AI Bubble Burst, Says Munster: &#8216;We Are At The Start Of 3-5 Year Tech Run&#8217;</a></em></p>\n\n\n\n<p><em>Image: Shutterstock</em></p>",
    "url": "https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37100544/nvidia-amd-broadcom-among-biggest-beneficiaries-of-ai-explosion-to-400b-market-anal",
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