Nvidia (NASDAQ: NVDA) is going up today, Friday, December 26, once again trading above $190 following a newly struck deal with Groq, an American artificial intelligence (AI) company. As the partnership is expected to boost the company’s growth next year, analysts are already setting new Nvidia stock price targets for 2026.
Namely, Rosenblatt Securities analyst Stacy Rasgon has reiterated its positive stance on the chipmaker, issuing a new Nvidia price target of $245 and citing its leadership across the AI sector.
Specifically, the analyst noted that the non-exclusive licensing agreement covering Groq’s inference technology is a strong catalyst, adding that several senior Groq executives will join Nvidia as part of the agreement.
The deal is thus analyzed as strategically meaningful for Nvidia, as Rasgon has argued that it could mitigate some investors’ worries that Alphabet’s (NASDAQ: GOOGL) Tensor Processing Units (TPUs) might be an obstacle on Nvidia’s path.
New Nvidia stock price target
Rasgon’s new figure implies a 30% upside from the current price levels, but it is still somewhat short of the average 12-month Nvidia price target of 263.58, which suggests the stock has enough room to go up more than 37%, according to 41 analysts whose takes have been reported by TipRanks.
NVDA price target. Source: TipRanksNonetheless, the number is sufficiently high to highlight the potential for Nvidia’s CUDA software ecosystem to help extend Groq’s Language Processing Unit (LPU). This, Rasgon argues, could further consolidate Nvidia’s competitive edge in AI.
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Source: https://finbold.com/analyst-sets-nvidias-nvda-share-price-after-20b-groq-deal/
