Nvidia can rally nearly 60% as AI infrastructure market swells, says Cantor Fitzgerald

Cantor Fitzgerald has raised its price target on Nvidia to $300 from $240, maintaining an overweight rating and implying a 59% upside, citing robust long-term prospects for the AI infrastructure market. Analyst C.J. Muse highlights exploding AI token demand and projects the market could reach $3-$4 trillion by 2030, with a new partnership involving Nvidia investing up to $100 billion in OpenAI to build self-hosted hyperscaler systems serving as a significant catalyst.

Analysis

There are still big gains to be had in Nvidia , according to Cantor Fitzgerald. The investment firm raised its price target on the graphics processing unit maker to $300 from $240, implying that shares could surge 59%. Cantor also kept its overweight rating on the stock. While renewed interest in the AI trade has driven Nvidia to new highs recently, analyst C.J. Muse asserted that the stock's long-term prospects still look solid. Supporting this point is the fact that AI token demand has "exploded" in the past 12 to 16 weeks. NVDA YTD mountain NVDA YTD chart "We are still in the early innings of a multi-trillion AI Infrastructure build-out with just the Hyperscalers providing significant line-of-sight into hundreds of billions of demand for the next handful of years, never mind other drivers such as Neo-Clouds, Enterprise, and Physical AI," he wrote. "Thus, this is not a bubble, and we are still in the early innings of this investment cycle." Muse believes that token generation could drive the AI infrastructure market to between $3 to $4 trillion in 2030. The analyst also pointed to Nvidia's new partnership with OpenAI as a catalyst. In this partnership, Nvidia will invest up to $100 billion in OpenAI as the ChatGPT maker plans to build and deploy Nvidia systems that require 10 gigawatts of power. "What is unique to the "new" relationship is to help OpenAI stand up as its own self-hosted hyperscaler … truly a win-win for both, with the option to invest in OpenAI an added benefit to NVDA," Muse wrote. The AI poster child has popped 41% this year. ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . ) Cantor Fitzgerald has significantly increased its price target for Nvidia (NVDA) to $300 from $240, reaffirming an overweight rating and projecting a substantial 59% upside. This upgrade is driven by analyst C.J. Muse's conviction in the long-term prospects of the AI infrastructure market, which he estimates could reach $3-$4 trillion by 2030, fueled by an "exploding" demand for AI tokens over the last 12-16 weeks. Muse characterizes this as being in the "early innings" of a multi-trillion AI infrastructure build-out, dismissing concerns of a market bubble. A key catalyst cited is Nvidia's new strategic partnership with OpenAI, involving a potential investment of up to $100 billion from Nvidia. This collaboration aims to enable OpenAI to build and deploy self-hosted hyperscaler systems requiring 10 gigawatts of power, representing a mutually beneficial arrangement with an added investment option for NVDA. The market has already responded positively, with NVDA shares gaining 41% year-to-date, reflecting robust investor sentiment. Cantor's bullish stance underscores the belief that current valuations do not fully capture the extensive future demand from hyperscalers, neo-clouds, enterprise, and physical AI sectors.

Key Decisions for Investors

• Consider maintaining or initiating an overweight position in NVDA, given Cantor Fitzgerald's significantly raised price target and bullish long-term outlook for AI infrastructure growth.
• Monitor the progress and financial implications of Nvidia's strategic investment and partnership with OpenAI, as this could be a substantial future growth driver.
• Evaluate the broader market's ability to sustain the projected multi-trillion dollar AI infrastructure build-out, as this underpins the aggressive valuation targets.