Goldman Sachs has raised its price target on Nvidia to $240 and reaffirmed its Buy rating, saying it expects the chipmaker to deliver a “beat-and-raise quarter” as AI infrastructure spending accelerates. In a preview note released Friday, the firm cited stronger visibility into data-center growth, hyperscaler investments, and continued demand tied to generative AI build-outs.
Analyst James Schneider said investors are focused on Nvidia’s path to its projected $500 billion data-center revenue opportunity, including expected deployments for OpenAI in calendar year 2026 and the rollout of Nvidia’s next-generation Rubin platform. Goldman increased its data-center revenue estimates by roughly 13% to reflect stronger capital spending trends and recent management commentary.
Goldman now forecasts earnings of $1.28 per share for the third quarter and $1.49 for the fourth quarter — 3% and 5% above consensus, respectively — noting that expectations remain elevated after Nvidia’s GTC event and a series of major AI infrastructure announcements. The firm expects earnings calls to focus on the cadence of GPU and networking demand, customer mix, and Nvidia’s product pipeline heading into 2026.
“We raise our revenue and non-GAAP EPS estimates by 12% on average throughout FY26-28,” Schneider wrote, adding that Goldman’s revised FY27 and FY28 earnings forecasts stand 22% and 28% above Wall Street expectations.
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