Nvidia is poised to be a big winner in the AI arms race as dealmaking in the space heats up, which could catapult its stock price to new highs, according to Barclays. The investment bank, which has an overweight rating on shares, raised its price target to $240 from $200. That implies upside of 35.6%. “We see [deals] largely flowing into the NVDA P & L over the next 5+ years, moving numbers materially higher and making this the most attractive name in our space,” analyst Tom O’Malley said in the note to clients dated Thursday. . Nvidia has struck several big deals with over the past few weeks, including a strategic partnership to invest up to $100 billion in ChatGPT-maker OpenAI and an agreement to work on physical data AI capabilities with Alibaba. Earlier this month, the chipmaker also agreed to pour $5 billion into rival Intel as part of an arrangement that calls for the latter’s central processing units to be integrated into Nvidia’s AI infrastructure platforms. And with demand for generative AI products accelerating, Nvidia will likely continue to attract even more customers for its powerful chips that power those technologies, according to O’Malley. “With the wave of announcements that have come over the last 6-9mo, we now estimate over $2T of planned spend at ~40GW of power in total,” the analyst said. O’Malley’s call reflects broader confidence in Nvidia on Wall Street. Of the 66 shops that cover the stock, 60 have rated its shares a buy or strong buy, according to LSEG data. NVDA YTD mountain NVDA year to date Nvidia’s shares dipped by nearly 1% in premarket trading on Thursday. The stock is still up roughly 31% in the year to date. ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
