NVIDIA stock (NVDA) rose 2% in early trading on Wednesday after an increase in price expectations from HSBC. The bank upgraded NVDA stock to ‘buy from hold’, citing the potential for resilient earnings growth. HSBC analyst Frank Lee said in a research note that he expects Nvidia’s AI chip market to continue to grow beyond Big Tech customers. This year has already seen a lot of excitement about the future of AI technology, with analysts becoming increasingly bullish on the potential of AI-based stocks like NVDA and AMD.
“We expect the AI GPU TAM (Total Addressable Market) to continue to increase beyond hyperscalers, leading to continued earnings growth,” analysts wrote in a note. Nvidia’s GPUs hold the dominant market share, so they will see the biggest growth, pushing NVDA’s stock price higher. Additionally, Lee raised his price target on the stock from $200 to $320.
NVDA is up nearly 30% year-to-date and has weathered every market crash in 2025. Despite the volatility, the GPU maker has seen its price soar as investors flock to the stock. Nvidia’s (NVDA) gains on Wednesday helped reverse losses from Tuesday, when the stock fell more than 4% as tech stocks fell amid escalating trade tensions between the U.S. and China that resulted in 100% tariffs between the two countries.
In addition to HSBC, five additional institutional investors and price forecasters have revised their targets for NVDA, all indicating a bullish stance. Those companies are Baird, TD Cowen, Everscore ISI, Morgan Stanley, and KeyBank. All price predictions for Nvidia stock are comfortably above the $200 range, with an upward trajectory minimum of $206 and maximum of $235. Bulls have invested heavily in Nvidia as the most popular asset in the U.S. stock market this year, and that’s reflected in the upward revisions to its stock price forecast.
