Street View: Nvidia set to ride on strong AI demand, Blackwell ramp-up amid China curbs

Nvidia NVDA.O beat Q1 sales expectations after customers rushed to buy AI chips before U.S. export curbs on China went into force, but an $8 billion hit to current-quarter revenue from the restrictions led to forecast below Wall Street estimates

Shares of the world's most valuable semiconductor firm rose 5.2% to $141.7 in premarket trading

CHIPS STACKED IN ITS FAVOR

Morgan Stanley ("overweight," PT: $170) cited strong business acceleration and durable growth drivers despite ongoing China-related challenges, reaffirms company as top semiconductor pick

Evercore ISI ("outperform," PT: $190) highlighted strong data center growth, rapid Blackwell GPU adoption, and sustained AI demand from hyperscalers and Tier 2 cloud providers

Piper Sandler ("overweight," PT: $180) pointed to strong ex-China growth and surging AI inferencing demand as signs of sustained momentum, with improved Blackwell chip manufacturing driving gross margin recovery and reinforcing profitability

D.A. Davidson ("neutral," PT: $135) says Blackwell rollout is progressing well despite setup challenges, but escalating China restrictions could hand a major market opportunity to local players like Huawei