08:52 AM EDT, 08/27/2024 (MT Newswires) -- Nvidia ( NVDA ) business trends continue to improve as the company churns out innovative AI models amid demand for GPUs that "appears insatiable," Truist Securities said Monday in a note, raising its price target on the stock to $145 from $140.

Nvidia's ( NVDA ) anticipated launch of its Blackwell superchip has been speculated to be delayed, but industry sources suggest that this is "more likely supply

chain noise than reality," Truist analysts said. Orders for Blackwell continue to increase recently and even if it does get delayed, the financial impact on Nvidia ( NVDA ) would be minor, according to Truist.

Buyers are still willing to get their hands on earlier models such as the H200 or H100, Truist said, citing industry sources. Demand for GPUs remains high and Nvidia ( NVDA ) is able to catch up with enough supply to also include shipments to original equipment manufacturers, the analysts added.

While growth may slow down in last few quarters of the year, Nvidia ( NVDA ) is still on track for "rapid growth" in the next few years as "stunning revolutionary AI models are still coming," according to Truist. "Every year or two, NVDA or one of its customers highlights a significant achievement through a new AI model that we could not have imagined previously," Truist analysts said.

Price: 125.35, Change: -1.11, Percent Change: -0.88