Nvidia Can Hit $8.5 Trillion on ‘Golden Wave’ of AI, Loop Says

Nvidia Corp can add trillions more to its valuation after making history as the first company to ever breach a $5 trillion market capitalization, according to at least one analyst.

Loop Capital Markets on Monday raised its price target to a Street-high view of $350, up from $250. The new target represents upside of more than 70% from Nvidia’s last close of $202.49, and implies a market cap of more than $8.5 trillion. The average target is $231.

Shares rose 2% in premarket trading. The stock is up more than 50% this year, outperforming the 45% gain of the Philadelphia ...