BofA’s Vivek Arya Sees Nvidia at $350 as Agentic AI Drives an “Unprecedented” Chip Cycle
Key takeaways
- The analyst who called NVIDIA in 2010 just named his top 10 AI stocks.
- Bank of America s Vivek Arya walked onto CNBC with a number that sits well above consensus.
- Arya is making a longer call, and this might lead to other analysts also revising their estimates upwards in the coming days and weeks.
Bof A’s Vivek Arya Sees Nvidia at $350 as Agentic AI Drives an “Unprecedented” Chip Cycle Omor Ibne Ehsan Mon, May 25, 2026 at 6:30 PM GMT+7 5 min read AMD NVDA BAC AVGO INTC Quick Read Nvidia (NVDA) trades around $215 with Bank of America’s $350 price target based on 85% revenue growth, 75% gross margins, and 50-60% expected earnings growth, with the company sitting on $119B in supply commitments and raising its dividend by nearly 25x. AMD (AMD) is up 109% year to date on strong agentic AI demand, Broadcom (AVGO) reported $8.4B in AI semiconductor revenue up 106% year over year with guidance to $10.7B next quarter, and Lam Research (LRCX) posted record $5.84B revenue as supply constraints benefit the entire semiconductor bill of materials.
Agentic AI applications consuming exponentially more tokens and GPU compute than chatbots are creating unprecedented semiconductor demand that analysts say has shifted from a cyclical chip market to a permanent structural shift in pricing and capacity requirements.
The analyst who called NVIDIA in 2010 just named his top 10 AI stocks. Get them here FREE.