Nvidia (NVDA) stock. AI has clearly been Wall Street’s biggest winner, but Morgan Stanley feels it has a lot more room to run.
Analyst Joe Moore just surpassed his price target from $250 to $235huge 38% overhead from Nvidia’s current price at $181.46.
Moore, rated 5 stars on TipRanks, feels the concern about Google-parent Alphabet (GOOGL) or Advanced Micro Devices (AMD) catch up are “exaggerated,” with new controls confirming that Nvidia has not lost any significant market share.
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Instead, demand for GPUs, HBM, and its advanced packaging remains hotter than expected as businesses race to scale AI models.
Moore feels that Nvidia still remains the go-to for customers, because it continues to deliver the best overall equation of cost and performance, supported by a robust software stack and a reliable long-term roadmap.
Morgan Stanley’s Joe Moore just raised his Nvidia price target to $250, reaffirming the chip’s dominance in the AI race. Photo by Christian Wiediger on Unsplash” loading=”eager” height=”640″ width=”960″ class=”yf-1gfnohs loader”/>
Morgan Stanley’s Joe Moore just raised his Nvidia price target to $250, reaffirming the chip’s dominance in the AI race.Photo by Christian Wiediger on Unsplash
Moore’s optimism is due to Nvidia’s “end-to-end advantage” in the GPU space.
That robust combination of superior chip performance, software maturity and deployment speed puts it head and shoulders above its competition.
Essentially, customers aren’t choosing Nvidia for its raw power, but because it shortens training times and lowers operating costs, while keeping large-scale AI projects on schedule.
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Moore also notes that the tight supply for GPUs, HBM, and advanced packaging shows how aggressively hyperscalers are growing AI workloads, strengthening Nvidia’s enviable position in the race.
For perspective, the Wall Street consensus on Nvidia stock is up average price target of $250.66implying an upside of almost 38% from current levels.
Moore’s new $250 target matches that consensus, putting Morgan Stanley firmly in the camp of giving Nvidia another leg up. The Street the high-end estimate reaches $352so Moore’s call puts Nvidia toward the bullish end of the range.
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Beyond Morgan Stanley, other heavyweights have also slammed their Nvidia targets recently:
Goldman Sachs & JPMorgan both lifted their 12-month Nvidia targets to approx $250on the back of rising demand for AI infrastructure and strong data center visibility.
Jefferies she hit her target to $250 from $240 while repeating a buyhe said Nvidia “answered the bell” on the growth, while being critical of the AI build.
Cantor Fitzgerald he went one step further, raising his aim to the High Street $300 from $240, keeping Nvidia as a Extra weight “Top Pick”.. The firm makes the case that we are still at the beginning of a multi-trillion dollar AI infrastructure cycle.
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Moore’s argument that Nvidia has not lost any significant market share may sound like analyst shorthand, but the data actually supports it.
The latest AI-server work from TrendForce highlights that Nvidia dominates almost 70% of the AI chip market in 2025.
That’s after I accounted for all the hullabaloo with the addition of Google TPUs and other custom ASICs. It also notes that the hyperscaler’s capex remains very much “concentrated on Nvidia’s high-end GPUs,” with internal chips mostly supplementary at this point.
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Additionally, Dell’Oro’s 2Q 2025 the data center components report echoes the same view.
Nvidia trumped all vendors in data center IT component sales, with Blackwell Ultra in particular it is the main driving force behind the accelerator and high-bandwidth memory explosion.
Furthermore, broader industry summaries still place Nvidia’s market share somewhere between 80% to 95% of the total AI accelerator market and approx 92% of the GPU share of the data center.
Additional controls from TrendForce, Counterpoint, Canalys, and Omdia support that model, the forecast 70%-80% in AI-GPU shipment share for Nvidia by 2025-26.
Also, OEMs like Dell, HPE, Supermicro, and Lenovo are sticking with Nvidia in designing their main AI servers around Hopper and Blackwell.
Even outside of Wall Street, we are seeing a similar pattern.
For example, in a post from Reddit’s r/dataisbeautiful (subreddit with over 1 million visitors per week), one user chatted about the price trends for GPU performance in various Nvidia generations.
Although the post wasn’t focused on data center AI training, the broader story is nonetheless; each new generation Nvidia delivers more work for the dollar.
What’s more, that consumer-level uptake aligns with what independent AI benchmarks show at a much larger scale.
In one test reported by AIMultiple, Nvidia H100 pushed almost 23,000 tokens per second on a $2.69/hour cloud instance, which is roughly 8,600 tokens per second for every dollar spent.
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This story was originally published by TheStreet on December 3, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.
