BofA Sets AI Chip Targets, Nvidia $300

Bank of America raised price targets for five US semiconductor firms, citing AI-driven growth prospects.
Targets: Nvidia $300, Broadcom $450, Marvell $125, AMD $280, Credo Technology $160, based on 26‑28x forward PE multiples.
Companies announced moves: Nvidia unveiled open‑source AI models; Broadcom expanded Meta partnership and AI runtime; Credo to acquire DustPhotonics for $750 million.
Analysts upgraded ratings for Marvell, AMD and Credo, highlighting improved visibility and revenue guidance.