12月17日，花旗分析师Atif Malik、Papa Sylla发布报告力挺英伟达，重申“这两种芯片将共存”。花旗预计，到2028年，AI加速器的总市场规模（TAM）将达到3800亿美元，其中AI GPU将占据主导地位，占据75%的份额，ASIC则将仅占25%。Source: Wall Street News
Citigroup believes that NVIDIA's GPUs can be reprogrammed through CUDA to adapt to different workloads, which is NVIDIA's greatest advantage. Citigroup maintains a "Buy" rating on NVIDIA and sets its "Target Price" at $175, indicating that NVIDIA still has about a 34% potential upside.
As the demand for AI continues to rise, the industry is evolving. $Marvell Technology (MRVL.US)$ and $Broadcom (AVGO.US)$ The recent performance disclosures of two chip manufacturers greatly exceeded expectations, causing investors to start worrying. $NVIDIA (NVDA.US)$ Will the GPU be replaced by customized ASIC chips.
On December 17, Citigroup Analysts Atif Malik and Papa Sylla released a report supporting NVIDIA, reaffirming that "the two types of chips will coexist." Citigroup expects that by 2028, the total market size (TAM) for AI accelerators will reach $380 billion, with AI GPUs taking the dominant position, holding 75% of the share, while ASICs will only account for 25%.
Analysts believe that NVIDIA's GPUs can be reprogrammed through CUDA-supported software and adapt to different workloads, which is NVIDIA's biggest advantage.
Citigroup also stated that while the share of ASIC unit combinations might exceed 35% by 2028, the sales share of ASICs could be limited to around 25% due to the higher average selling price (ASP) of AI GPUs.
Additionally, Citigroup's supply chain discussion indicates that NVIDIA's Cowos foundry's capacity allocation is expected to grow from 56% in 2024 to 60% in 2025, showing that GPUs will still maintain strong growth momentum in 2025.
Citigroup maintained a "Buy" rating for NVIDIA and set its Target Price at $175, which also indicates that NVIDIA has about a 34% potential upside. In the US stock night trading, NVIDIA's stock price rose by 0.53%.
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编辑/jayden
