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Why Citi Sees NVIDIA (NVDA) Facing Growing Pressure From Broadcom and Google

NVIDIA Corporation (NASDAQ:NVDA) is one of the Exciting AI Stocks to Watch Right Now. On September 8, Citi reiterated the stock as “Buy” and lowered its price target to 200persharefrom200 per share from 210. The firm believes that the AI chipmaker’s “moat” is being threatened by other AI chipmakers, leading to the price target cut. Citi highlighted how Broadcom’s recent quarterly results have demonstrated robust year-over-year growth. Moreover, a $10 billion order of custom AI chips known as XPUs from a mystery custom ...