Cantor Fitzgerald reiterates Overweight rating on NVIDIA, $350 price target

NVIDIA, ranked 4th in Data Centre Magazine’s 2026 ranking, reported $75.2bn in data centre revenue for Q1 2026, up 92% YoY. The company is influencing AI infrastructure design, financing, and operation, with innovations like warm-water cooling and GPU optimization. NVIDIA plans to expand its AI factory capacity from 55MW to 200MW by 2028, investing $1bn, with Brookfield potentially contributing $9bn.

Samsung Electronics and affiliates will invest $1 billion in Helix Digital Infrastructure, an AI platform backed by KKR and Nvidia. South Korean telecom companies KT, LG Uplus, and SK Telecom are also increasing investments in AI infrastructure. Korean insurers and savings banks are financing AI data center projects. South Korea's copper-clad laminate exports rose 41.6% year-over-year to $517.3 million in 2026.

AMD agreed to buy World Labs for $8.2B in stock, while Nvidia acquired Hugging Face for $12.9B. Both deals highlight uncertainty in the AI industry. AMD's acquisition focuses on spatial intelligence, while Nvidia targets open-model platforms. Neither company knows which AI layer will dominate.

Nvidia (NVDA) closed at $228.38, up 0.51%, after authorizing a $150B buyback, totaling $235B. Trading volume was 117.7M shares. The S&P 500 fell 0.23%, while the Nasdaq Composite rose 0.24%. AMD gained 0.69%, and Broadcom dropped 1.10%.

Amazon (AMZN) signed a $1B+ multi-year deal with Synopsys (SNPS) to expand chip-design tech for AWS custom silicon, challenging Nvidia (NVDA). Amazon will lead Synopsys' new silicon IP business, tailoring software for Trainium AI chips and Graviton processors. Amazon's custom-chip business exceeds $25B annual revenue, growing at triple-digit rates. Synopsys may earn more with a license-plus-royalty model.

Nvidia increased its share buyback program by $150 billion, totaling $235 billion through 2028. The company aims to return excess cash to shareholders, though experts note buybacks alone don't guarantee good investment value. Buybacks can boost earnings per share but depend on factors like valuation and company health.