Needham Reiterates Buy Rating on NVIDIA (NVDA)

Needham analyst Rajvindra Gill reiterated a Buy rating and $300.00 price target on NVIDIA (NASDAQ: NVDA).

The analyst commented: "Yesterday, NVIDIA announced its agreement to buy Hugging Face for $12.930BN. Hugging Face is the open source platform for hosting open source and open weight models and datasets enabling developers to easily access ready-to-use models instead of building and training them from scratch. Hugging Face is hardware agnostic and works with a multitude of hardware providers to integrate these models into hardware stacks to run the models more efficiently. Post acquisition, NVIDIA will keep Hugging Face as an open platform. The deal includes a ~$11.9BN purchase price and an additional equity-based retention program of up to ~$1.0BN for Hugging Face employees joining NVIDIA. The deal is expected to close in 1H27. We maintain our Buy rating and $300 PT."

For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.

Shares of NVIDIA closed at $228.45 yesterday.

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