We recently published Analysts Are Talking About These 10 Stocks as AI Investments Continue to Grow. NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks analysts were recently talking about.

In December last year, Joseph Moore, Morgan Stanley semiconductor analyst, commented on the volatility NVIDIA Corp (NASDAQ:NVDA) was going through at the time and said the stock would have a strong second half of 2025. The analyst’s call turned out to be correct. Here is what he said at the time:

“I still think when you think about 2025 and AI the story is Blackwell, the product cycle that Nvidia has. I think they’re going to have a huge second half of the year and I think we do have these transitional issues as we’re moving there but I think the stock is very attractive this level. I’m not going to say absolute bottom because it’s volatile but you know it’s very attractive at this level. I think you’re trading at a much lower multiple than some of the AI peers and I really believe that they actually gain share versus custom silicon in 2025. I’m very excited for this custom silicon trend but I still think Nvidia can gain share relative to that in 2025.”

NVIDIA Corp (NASDAQ:NVDA) shares are up 28% so far this year.

Nvidia’s latest deal with OpenAI and Intel, along with Oracle’s partnership with OpenAI are showing signs that companies are continuing to spend a fortune on compute, and AI demand won’t slow down anytime soon. But can NVDA shares keep gaining?

Nvidia’s Hopper Infrastructure and now Blackwell form the core of AI infrastructure for LLM training and inference. But Nvidia’s growth is slowing compared to previous quarters amid competition and capex spending limitations from major companies. In the recently reported quarter, Nvidia’s annual revenue growth came in at 56%, compared with nearly 100% YoY growth in the past.

With its strong position in the data center market and rising demand, Nvidia is likely to keep growing, though not at the same pace it has in the past. Increasing competition from major companies like Broadcom is also expected to impact Nvidia’s margins in the long term.

Nvidia recently impressed the market by signing an AI infrastructure deal with Intel. Nvidia will invest $5 billion in Intel. Jensen Huang said the deal would open up $50B in TAM for both companies in the data center and PC business.

Macquarie Core Equity Fund stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its second quarter 2025 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) performed strongly in the quarter on renewed AI optimism and reduced concern that an individual customer or two will moderate capital expenditures. Though the Fund’s weight was among our largest positions at over 4.5% during the quarter, the relative underweight (the benchmark weight averaged 6.3%) negatively affected relative returns.”