Several major financial institutions have recently updated their price targets and ratings for semiconductor companies Nvidia Corp and Advanced Micro Devices (AMD), driven primarily by the expanding artificial intelligence (AI) market and resumed AI chip shipments to China. Citi analyst Atif Malik raised Nvidia's price target to $190 from $180, citing the AI market expansion with a projected $563 billion data center semiconductor AI market by 2028. HSBC upgraded AMD from Hold to Buy, doubling its price target to $200 due to strong AI revenue potential, particularly from the MI350 GPU series, with forecasts 57% above consensus and expected FY26 AI revenue growth. Goldman Sachs initiated Nvidia with a Buy rating and a $185 target, while Melius Research raised Nvidia's target to $235 from $205. Oppenheimer increased Nvidia's price target to $200 from $175. DZ Bank and Needham also raised Nvidia targets to $195 and $200 respectively, with Needham projecting $3 billion in quarterly shipments of H20 chips to China and potential China-specific Blackwell GPU shipments starting August or September 2025. Bank of America (BofA) raised Nvidia's price target to $220 from $180, factoring in upside from resumed China AI shipments, estimating $4 billion to $6 billion in quarterly sales through the second half of 2025, though noting licensing risks and rising local competition. Bernstein raised AMD's price target to $140 from $95, maintaining Market Perform but highlighting valuation risks. These upgrades reflect growing investor confidence in the AI chip market and the impact of renewed U.S. export licenses allowing shipments to China, which is expanding market opportunities for U.S. chipmakers including Nvidia and AMD.