Nvidia Corp. experienced a rebound in its stock price, rising as much as 4.8% on Wednesday, driven by bullish outlooks from Wall Street analysts despite concerns about competition and potential waning demand for AI chips. Analysts from Bernstein, TD Cowen, Morgan Stanley, and Truist maintained their Buy ratings on Nvidia, with Truist's William Stein raising the price target to $204 from $169, citing Nvidia's dominance in the technology stack. However, the stock faltered later in the day, ending down roughly 1%, following commentary from the Federal Reserve suggesting fewer rate cuts and stickier inflation in 2025. Nvidia's shares have been pressured by fears that its GPUs might lose market share to custom chips developed by clients such as Google, Meta, Microsoft, Tesla, and Amazon. These custom chips, known as ASICs, are seen as a potential threat to Nvidia's GPUs due to their lower cost and specific AI capabilities. Despite this, Morgan Stanley noted Nvidia's historical dominance in the AI chip market and its ability to raise the competitive bar. In a separate development, Nvidia announced a collaboration with Apple, integrating the ReDrafter technique into the NVIDIA TensorRT-LLM framework, which resulted in a 2.7x speed-up in token generation for large language models on Nvidia GPUs.