Bond.az - Melius raised its price target on Nvidia Corp. (NASDAQ:NVDA) to $400 from $380 while maintaining a Buy rating. The firm cited the company's expanded total addressable market and new segment disclosures.
Nvidia disclosed a restructured business segmentation that splits its Data Center operations into two sub-segments. The Hyperscale segment represents 46% of first-quarter fiscal revenue, while the ACIE segment accounts for approximately 46% as well.
The company also created an Edge Computing segment representing roughly 8% of first-quarter revenue. This division encompasses AI RAN, robotics, workstations, automotive applications, gaming and upcoming PC system-on-chip products.
Nvidia projected its total addressable market in infrastructure spending will reach $3 trillion to $4 trillion by 2030, up from over $1 trillion in 2027. The company reported 118% year-over-year growth in Data Center revenue excluding China in the first quarter, with guidance for over 100% growth in the second quarter.
