Nvidia (NVDA) Has “Huge Growth Opportunities Beyond Data Centers” — Where Do They Lie?

Argus Research has joined the ranks of analysts hailing CEO Jensen Huang’s keynote address and $1 trillion revenue forecast for Nvidia NVDA -1.72% ▼ at the chipmaking giant’s ongoing GTC (GPU Technology Conference) 2026. Argus’ analyst Jim Kelleher stepped forward with a Buy rating on NVDA, noting that Nvidia “has huge growth opportunities beyond data centers.”

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Argus Flags Opportunities in Physical AI, Others

Kelleher argued that while competition in the AI industry will continue to heat up, Nvidia — which has emerged as the world’s most valuable company and boasts a market capitalization of $4.4 trillion as of Wednesday afternoon — has other areas with earnings potential. These opportunities lie in physical AI, including automotive and robotics, as well as in gaming and professional visualization.

The Argus analyst is a five-star-rated researcher, ranking 39th out of 12,128 Wall Street analysts tracked by TipRanks, as the image below shows.

Kelleher also boasts a 68% success rate and an average return of 30.10%. In giving his assessment, the analyst maintained his price target of $220 for Nvidia’s shares, implying about 21% upside.

Nvidia to Remain the “Linchpin” of GenAI

Like other analysts, Kelleher pointed to Nvidia’s upcoming next-generation Vera Rubin for this bullish rating. He added that the AI system, alongside the Groq 3 language processing unit for AI inference unveiled at the conference, provides 30 times better performance and power efficiency than the chipmaker’s earlier Hopper architecture.

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Kelleher further argued that he expects Nvidia to maintain its status as “the linchpin” of the generative AI industry despite rising competition from large and small competitors alike.

“Nvidia continues to build on its significant competitive advantage and first-move status that have enabled it to become the center of the generative AI universe and chief supplier to all the major AI and cloud service providers,” the analyst explained.

The bullish rating comes even as Huang has emphasized that Nvidia is “accelerating at a larger scale.” Moreover, the chipmaker has tapped companies such as CoreWeave CRWV +0.35% ▲ and Comcast CMCSA +1.29% ▲ to buy into the boom in physical AI.

Is Nvidia a Good Stock Buy Now?

Across Wall Street, analysts remain highly confident in Nvidia’s shares. The stock currently enjoys a Strong Buy consensus rating based on 40 Buys and one Hold issued over the past three months.

In addition, the average NVDA price target of $274.16 implies about 50% upside.

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