Goldman Sachs Reaffirms $250 Nvidia Target as GTC Boosts AI Confidence

The recent GTC 2026 conference served as a critical litmus test for Nvidia's market leadership, and Goldman Sachs' response was unequivocal. By maintaining a $250 price target—a level first established in late 2025—the investment bank is signaling that the fundamental bull case for AI infrastructure remains intact despite periodic bouts of bearish sentiment. At a current trading price of approximately $172.70, Goldman’s target implies a significant 45% upside, a bold stance that reflects a belief in the generational nature of the current technology cycle. This blunt message to the market serves to counteract fears that the AI boom might be nearing a peak or that a bubble is set to burst. Instead, Goldman views the current phase as one of consolidation and preparation for the next leg of growth.

Central to this optimism is the Blackwell architecture, which was the centerpiece of the GTC event. CEO Jensen Huang’s keynote address provided the market with what analysts describe as clearer demand visibility. This is crucial because the primary bear argument often centers on the sustainability of hyperscaler capital expenditure. If the largest cloud providers, such as Microsoft, Google, and Amazon, were to pull back their spending, Nvidia would be the first to feel the impact. However, the GTC takeaways suggest that the pipeline for Blackwell-based systems is not just robust but accelerating. These new models offer the performance leaps necessary for the next stage of generative AI development, particularly as enterprises move from experimental phases to full-scale production deployments.

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Bank of America and Bernstein follow closely at $300, while Morgan Stanley and Benchmark have set targets of $260 and $250, respectively.

The broader Wall Street consensus appears to be shifting even further into the bull camp, with several major institutions raising their price targets in the wake of the conference. While Goldman’s $250 target is substantial, it is actually on the more conservative end of the spectrum compared to peers like Rosenblatt Securities, which recently set a street-high target of $325. Bank of America and Bernstein follow closely at $300, while Morgan Stanley and Benchmark have set targets of $260 and $250, respectively. This clustering of high targets suggests a collective realization among analysts that Nvidia’s competitive moat is widening rather than shrinking. As Dan Ives of Wedbush noted, the company is effectively alone at the top of the AI mountain. This isn't just about GPUs anymore; it's about a full-stack integration of compute, networking, and software that makes displacing Nvidia increasingly difficult for competitors.