Wall Street Sees Nvidia Market Cap Soaring Past $10 Trillion

Nvidia's first-quarter earnings report has sparked a flurry of activity on Wall Street, with analysts raising their price targets for the company's stock.

Jefferies attributed Nvidia's strong Q1 performance to the accelerating uptake of Blackwell chips and raised its price target to $300 from $275, maintaining a 'Buy' rating.

Baird took it a step further, boosting its price target to $500 from $300, implying an upside potential of 124% from Nvidia's current market value. This puts the company's market capitalization on track to surpass $10 trillion.

Analysts at BofA and JPMorgan also chimed in, raising their price targets for Nvidia to $350 from $320 and $280 from $265 respectively.