Particle.news

Download on the App Store

Citi Raises Nvidia Price Target to $190 on Surge in Sovereign AI Demand

Analysts attribute the upgrade to accelerating government AI buildouts in a revised $563 billion data center TAM

Image
Image
Image
Image

Overview

  • Citi analysts Atif Malik and Papa Sylla lifted Nvidia’s price target after raising the 2028 AI data center semiconductor TAM by 13% to $563 billion.
  • The firm forecasts Nvidia’s data center revenue will grow 11% in fiscal 2028 and expects networking sales to represent 21% of the AI data center market that year.
  • Nvidia is involved in nearly every sovereign AI deal, with government investments already contributing billions of dollars in 2025.
  • Deployments of Blackwell GB200 chips are accelerating and preparations for next-generation GB300 hardware support expectations of sustained gross margins in the mid-70% range.
  • Nvidia’s CUDA software platform and expanding enterprise software and networking offerings deepen its ecosystem moat and strengthen customer lock-in.