HSBC Raises Nvidia Target Price to $360

Sell-side target revisions are a lagging signal, so the more telling detail is the reasoning: demand for AI accelerators, not a broader semiconductor recovery. That keeps the read narrowly on datacenter capex, where Nvidia's position is the whole thesis. Whether other banks follow with comparable revisions is the open question — clustered upgrades would signal the street is re-rating the demand curve rather than just the multiple.