‘Only Getting Started’: C.J. Muse Bangs the Drum for Nvidia Stock

All eyes will be on **Nvidia (NASDAQ:NVDA) **next week when the AI chip giant hosts its GTC event (March 16–19), where investors will hear about the latest developments across the AI landscape.

Claim 70% Off TipRanks Premium

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions

• Stay ahead of the market with the latest news and analysis and maximize your portfolio’s potential

The event comes at a time of uncertainty around the AI trade, with the market less enthusiastic than it was not long ago and investors waiting to see whether massive investments in AI infrastructure will ultimately pay off amid fears of an AI-driven bubble.

But for those wondering whether AI mania has reached a peak, Cantor’s C.J. Muse, an analyst ranked among the top 1% on Wall Street, is having none of it.

“Peak AI?” Muse asks. “We’ve just reached base camp.”

So, what can investors expect from the AI chip leader at GTC? Looking at the overall picture, Muse expects the week to showcase how Nvidia is “maintaining its leadership as THE AI Infrastructure company.” More importantly, through a system-level strategy, Nvidia is laying the groundwork not only to maintain dominance in training but also to expand its leadership in inference. Here, Muse points to Groq’s technology, which is expected to be integrated into the upcoming Feynman platform with new LPX technology (Muse’s guess on “nomenclature for new Groq-based offering”).

Other areas likely to draw attention include an update on the Vera Rubin platform, the launch of the standalone Vera CPU, and progress on scaling CPO (co-packaged optics). That could encompass the ramp of the second-layer VR NVL576 rack, Rubin Ultra CPO NVLINK domain extensions targeted for 2027, and chip-level integration expected in 2028. There could also be an update on backlog and visibility into 2027, with Muse believing Nvidia is already sold out for 2026.

On the demand side, the key focus will be whether hyperscalers can sustain their elevated capex levels into 2027 and beyond. Muse expects CEO Jensen Huang to point to a “very bullish backdrop” for token demand, driven by the rise of agentic AI, where compute effectively becomes a proxy for revenue or GDP in an environment where compute capacity is fully sold out. “Thus,” adds Muse, “look for Jensen to come out swinging and be very, very bullish.”

As for the shares, Muse reminds investors that the stock currently trades at just 15x his projected $12 CY27 EPS (now including SBC). Against this backdrop, he would expect the stock to move higher. Whether that actually happens is less certain, as the market remains firmly focused on signs that 2027 will deliver another year of growth. “Our sense – we are on the cusp of regaining confidence,” Muse summed up.

Accordingly, with the stock remaining a “top pick,” Muse assigns NVDA an Overweight (i.e., Buy) rating, backed by a $300 price target. Should the figure be met, investors will be pocketing returns of 66% a year from now. (To watch Muse’s track record, click here)

Nvidia gets plenty of support elsewhere on the Street; based on a lopsided mix of 38 Buys vs. 1 Hold, the analyst consensus rates the stock a Strong Buy. At $273.61, the average price target makes room for one-year returns of ~52%. (See NVDA stock forecast)

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

Disclaimer & DisclosureReport an Issue