Jul 3, 11:40 AM

Mizuho Lifts Targets on Nvidia, AMD and Chip Peers Amid AI Demand

Mizuho Securities raised price targets across a swath of semiconductor companies as the brokerage updated its industry estimates to reflect what it sees as sustained demand for artificial-intelligence servers and data-center hardware through at least 2026. Lead analyst Vijay Rakesh lifted Nvidia’s target to $185 from $170, saying supply bottlenecks around its flagship GPUs are easing and demand for the forthcoming GB200 platform is accelerating. The firm also increased Advanced Micro Devices to $152 from $135, pointing to a ramp-up of the MI355X accelerator. Broadcom’s target was nudged to $315 from $310 on expectations of stronger custom AI chip programs, while Arm was raised to $180 from $160 on Cobalt growth and potential upside from SoftBank and cloud provider partnerships. Super Micro Computer and Intel were each taken to $47 and $23, respectively, with the analyst citing continued share gains among tier-two cloud-service providers and tighter operating-expense discipline. Mizuho kept Outperform ratings on Nvidia, AMD, Broadcom and Arm and maintained Neutral views on Super Micro and Intel. The broad revisions follow a rally in chip stocks this year driven by investors’ appetite for companies viewed as key beneficiaries of the accelerating adoption of generative AI.