What’s happening with Nvidia and AMD stocks on Monday? – NVIDIA (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD)

Nvidia Corp NVDA and shares of related companies, including Advanced Micro Devices, Inc. AMDare up on Monday, proving that the artificial intelligence craze is still going strong.

UBS Analyst Timothy Arcuri reiterated a Buy rating on Nvidia and raised the target price from $120 to $150.

Analysts did not miss the opportunity to express their optimism about Nvidia, which they consider the main beneficiary of the development of artificial intelligence.

Read also: Nvidia sees it still leads the $90 billion accelerator market despite recent decline: BofA analyst

In June, Piper Sandler Analyst Harsh Kumar predicts that GPU accelerators could be a $400 billion-plus market by 2027, with a sustained double-digit compound annual growth rate (CAGR).

Kumar found Nvidia to be the clear leader in the GPU segment, with over 70% of the total market, while AMD and Intel Company INTC compete for the remaining market share.

Shares of Nvidia and AMD also gained on Wall Street’s confidence in their key supplier, Taiwan Semiconductor Manufacturing Co. TSM.

Morgan Stanley became the latest company to raise its pricing targets for the chipmaker, expecting it to raise wafer prices given its lead in artificial intelligence.

Reports indicate that Taiwan Semiconductor’s capital expenditure will increase by $32 billion to $36 billion in 2025, driven by the development of artificial intelligence.

Nvidia shares are up 209% in the past 12 months. AMD is up 55%.

Price Actions: NVDA shares were up 2.34% to $128.77 at last check on Monday. AMD was up 1.40% to $174.31.

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