BofA/Merrill analyst Vivek Arya raised Nvidia's price target to $155 from $138 and sees a path to $7 per share in earnings. The analyst Google's efforts to expand the scope of its internal TPU chip could be a net positive for Nvidia and doesn't necessarily imply greater competition. Arya said Google has a supportive commitment to Nvidia's next-gen Volta chip as it is a more general purpose for use in other frameworks used by other cloud customers and is more flexible. Further, the analyst said difficult 2H gaming comps are largely reflected in consensus estimates and shares are more sensitive to trends in the growing data center segment. Arya rates Nvidia a Buy and reiterated shares as a top pick.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here

Friday's total option volume of 56.7 million contracts resulted in net open interest growth of 6.01 million calls and 5.28 million puts. NVIDIA (NVDA), Tesla (TSLA), Apple (AAPL) and Advanced Micro Devices (AMD) saw the greatest growth. Top five new positions opened include 50k Lyft (LYFT) May-24 20 calls, 44k Energy Transfer (ET) 4/26 weekly 16.5 calls, 43k Las Vegas Sands (LVS) Sep-24 41 calls, 23k Tesla (TSLA) 4/26 weekly 162.5 calls and 21k Papa John's (PZZA) Jun-24 57.5 puts.

SoftBank (SFTBY) is planning to spend Y150B, or $960M, by 2025 to boost the number crunching power at its computing facilities to develop world-class generative artificial intelligence, Nikkei Asia's staff writers report, citing sources. The company's computing power is likely to be among the highest in Japan once the investment is complete and graphics processing units will be bought from Nvidia (NVDA). Reference Link