Citi lifts Nvidia’s price target on booming sovereign AI demand
Citi (C) is doubling down on Nvidia (NVDA), driven by what it sees as a major expansion in demand for AI infrastructure, particularly from sovereign governments.
The firm raised its price target on the chipmaker to $190 per share, implying a roughly 15% upside from Nvidia’s current trading levels. Citi analysts said they see Nvidia capturing a larger piece of an expanding total addressable market (TAM) for data center infrastructure. The upgrade comes as Nvidia continues its charge toward a $4 trillion market cap, with shares up 12% in the past month.
“We believe sovereign demand is already contributing up to billions of dollars in 2025” and should ramp up further in 2026, analysts Atif Malik and Papa Sylla wrote. Nvidia is…
