Bank of America analyst Vivek Arya maintained a Buy rating on Nvidia with a $350 price target, versus a $217 share price. Arya said the market is over-penalizing AI capital spending risks. Nvidia reported $96.2 billion in quarterly revenue, up 106% year over year, with about $89 billion from data centers as Blackwell ramps. BofA sees the current valuation as low if AI accelerator demand remains strong. Key risks include customer concentration, hyperscaler spending and Blackwell shipments.
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