Mizuho Raises Nvidia and AMD Price Targets To $205 On AI-Server Boom

Aug 14 - Mizuho's top tech analyst Vijay Rakesh just turned up the heat on the GPU battle, raising price targets on Nvidia NVDA and Advanced Micro Devices AMD to $205 each while keeping Outperform calls. He pins the move on surging AI-server demand and heavy hyperscaler spending that should keep both companies busy for quarters to come.

Rakesh sees Taiwan-based server makers, think Wistron and Wiwynn, driving strong buy-ins of Nvidia gear, and he expects new GPU license approvals in China to add roughly 300,000500,000 units annually across NVDA and AMD, boosting second-half momentum into 2026.

For Nvidia, Mizuho leaves the July-quarter revenue view intact at $46.2B but lifts multi-year targets, forecasting fiscal 2026 revenue near $208B and EPS of $4.51, then $260B/$5.95 in 2027 and $292B/$6.71 in 2028.

For AMD, Rakesh raises near-term estimates and predicts Radeon/Instinct GPU revenue to climb from $8.57B in FY25 to $13.6B in FY27, driven by MI308 and MI355 ramps in China.

Bottom line: Mizuho bets AI demand keeps the tailwinds fierce, but execution, supply cadence, and China licensing remain key risk factors to watch as both chipmakers scale into the AI era.