NVIDIA stole the proverbial show in 2024, sometimes going so far as to cushion the entire market via the relentless rise in its market capitalization. Now, it seems that the GPU maker is on course to repeat the stellar notes of its 2024 performance, as per the tidbits that can be gleaned from the latest investment note penned by Bank of America (BofA) analyst Vivek Arya.
To wit, while conceding that the broader overtones of NVIDIA's keynote address at the upcoming CES are already known, Arya asserts that the tradeshow still remains a positive catalyst for the GPU manufacturer's shares:
"While the big themes have already been mentioned in the media ahead of the event, we still see CES as a positive catalyst, re-asserting NVDA’s platform dominance/opportunity in high-growth markets."
At the upcoming CES tradeshow, Arya expects NVIDIA to provide critical updates on its overarching robotics strategy and the Jetson Thor platform for humanoid robots, which aligns with the emerging theme around "physical AI."
The BofA analyst also expects NVIDIA to launch RTX 50xx - the PC gaming variants of its Blackwell GPUs that are expected to boast of "enhanced 'neural rendering' and faster GDDR7 memory."
Moreover, Arya expects NVIDIA to provide another update on its data center/AI GPU lineup, "incl. current-gen Blackwell (GB200, B200), 2H upgraded variants (GB300, B300 – more memory (288GB using 12 stack High HBM 3E) for more accurate AI inference) and teaser on next-gen Rubin (CY26E)."
Finally, and perhaps most critically, Arya is looking for NVIDIA's official entry in the "AI PC [market] likely via partnership or (small) chance of standalone PC CPU."
This aligns with a separate note recently penned by Truist Securities analyst Will Stein, wherein he announced:
"We believe NVDA will announce a client-side CPU during 2025, opening up an additional ~$35B TAM."
Coming back, in light of the anticipated developments at the CES, Arya has reiterated a 'Buy' rating on NVIDIA shares with a $190 stock price target:
"Reiterate Buy on our sector top pick, Nvidia , ahead of CES tradeshow that starts Jan-6 with keynote and other events featuring NVDA CEO."
For reference, NVIDIA is currently trading at the $135 price handle in today's pre-market trading. This corresponds to a ~40 percent upside potential relative to Arya's stated target price for the GPU manufacturer's shares.
About the author: Writing is my one incontrovertible passion. Over the past six years, he has authored over 2,200 distinct articles on financial and tech-related topics, spanning nearly 1 million words. And he has been a member of Wcctech mobile team since 2025. As an alumnus of the University of Toronto, Rotman Commerce Program, I bring nuance, in-depth knowledge, and a unique perspective to every topic that I cover. When I'm not writing, I'm traveling the world, exploring hidden confectionaries and restaurants as an aspiring food connoisseur.
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