Nvidia Could Jump 75% as GPU Shipments Set to Double, Says Loop Capital

Nvidia (NVDA, Financials) shares could go up about 75% in the next year as demand for its AI chips keeps growing.

The company said it expected Nvidia's GPU shipments to quadruple in the next year, thanks to strong demand from businesses for AI infrastructure, new cloud collaborations, and new product releases.

Loop Capital analysts said that Nvidia is still the obvious leader in the AI processor industry, powering everything from hyperscale data centers to AI platforms for businesses. The company thinks that even with more supply coming online, worldwide demand for GPU capacity would still be greater than production through 2026.

The positive forecast comes after a number of publications that reveal Nvidia's next-generation GPUs are already in high demand from big tech companies like Microsoft, Amazon, and Meta as AI workloads grow quickly.

Shares of Nvidia have already gone up a lot this year, but Loop Capital thinks there is still a lot of room for growth as more and more industries start using AI.