Archive · 5 Oct 2026
BNP Paribas Raises Nvidia Target to $345, Sees 47% Upside
BNP Paribas thinks Nvidia’s shares could rise further and has increased its target price to $345.
That target is about 47% above the price at which the shares closed on Friday.
The brokerage believes Nvidia’s chips, software and networking equipment work well together.
It says that could help the company as AI systems take on more complicated tasks.
Nvidia’s upcoming Vera Rubin platform is designed to combine several kinds of computing equipment into larger systems.
BNP Paribas expects Nvidia to keep a large share of the AI computing market, even as competitors grow.
It also expects Nvidia’s profit margins to remain high.
Separately, Nvidia added $150 billion to its share buyback authorization.
BNP Paribas retained its Outperform rating on Nvidia and raised its price target to $345 from $285.
The new target implies about 47% upside from the Friday closing price.
The brokerage says Nvidia’s integrated platform, including CUDA, NVLink and networking, could help it compete as AI workloads shift toward inference.
BNP Paribas expects Nvidia to retain at least three-fourths of the AI compute market by dollar value and keep gross margins above 70%.
Nvidia expanded its share buyback authorization by $150 billion and expects to complete the remaining program by fiscal 2028.
- Who
- BNP Paribas and Nvidia.
- What
- BNP Paribas raised its Nvidia price target to $345 while retaining an Outperform rating.
- When
- The report says the target is based on Friday’s closing price; it does not specify a date.
- Where
- Nvidia shares; no specific trading venue is stated.
- Why
- BNP Paribas cites Nvidia’s integrated computing platform, software ecosystem and networking capabilities as advantages for increasingly complex AI workloads.
Bullish outlook
Competitive concerns
Nvidia’s position in AI computing
Bullish outlook
BNP Paribas says Nvidia’s combined hardware, software and networking platform is difficult for rivals to replicate and expects the company to retain at least three-fourths of AI compute spending.
Competitive concerns
The article notes concerns about rising competition from AMD and custom chips being developed by major technology companies.
Future AI workloads
Bullish outlook
BNP Paribas argues Nvidia’s platform advantage becomes more important as AI expands from training to complex inference and agentic workloads.
Competitive concerns
The article reports that more technology companies are moving toward building custom chips, presenting a challenge to Nvidia’s position.
- Previous price target
- $285
- Revised price target
- $345
- Potential upside
- About 47% from Friday’s closing price
- AI compute market outlook
- At least three-fourths of the market by dollar value, according to BNP Paribas
- Gross margin outlook
- Above 70%, according to BNP Paribas
- Buyback increase
- $150 billion
- Reported July fiscal-quarter revenue
- $96.2 billion, more than double the year-earlier level
- Reported data center revenue
- $89 billion, up 117% year on year