Shares of Nvidia (NASDAQ: NVDA) surged greater on Monday, leaping as a lot as 5.2%. As of 11:07 a.m. ET as we speak, the rally had light considerably, although the inventory was nonetheless up 0.5%.The catalyst that despatched the chipmaker greater was rising confidence in its synthetic intelligence (AI) prospects on Wall Road, leading to a pair of worth goal will increase.An enormous opportunityHSBC analyst Frank Lee maintained his purchase ranking on the inventory whereas rising his worth goal to $1,050. That means potential upside of greater than 20% in comparison with Friday’s closing worth — and on high of the inventory’s 500% positive factors for the reason that starting of 2023. The analyst cited Nvidia’s growth past graphics processing items (GPUs) into central processing items and software program to energy its AI-centric processors.To not be outdone, analysts at Truist stored a purchase ranking on the shares, whereas rising their worth goal to $1,177, which might characterize potential upside of 34%. The corporate cited Nvidia’s “tradition of innovation, ecosystem of incumbency, and large funding in software program, companies & fashions” as the rationale for the corporate’s rising lead in AI. The analysts went as far as to name Nvidia “the AI firm.”Internet hosting the “Woodstock of AI”This rising confidence comes as Nvidia kicks off its annual GPU Know-how Convention (GTC) as we speak. The corporate is predicted to unveil the subsequent era of generative AI-centric merchandise.The extremely anticipated B100 goals to be the world’s most superior and highly effective AI processor, and it might double the capabilities of its predecessor, the H100. Traders are ready to listen to from CEO Jensen Huang, who is predicted to current the keynote tackle later as we speak.This highlights Nvidia’s relentless innovation, which has helped catapult the corporate to the lead in offering processors used for generative AI.After Nvidia’s meteoric rise over the previous yr or so, buyers have begun to surprise if the rally might proceed. The inventory at present trades for 36 occasions ahead earnings and 17 occasions ahead gross sales, sending some shareholders to the sidelines.Story continuesHowever, administration forecasts triple-digit year-over-year development in its 2025 fiscal first quarter, which ends in late April. Development of that magnitude is definitely deserving of a premium, suggesting buyers buckle in for the wild trip to return. Nvidia inventory is a purchase.Must you make investments $1,000 in Nvidia proper now?Before you purchase inventory in Nvidia, think about this:The Motley Idiot Inventory Advisor analyst workforce simply recognized what they imagine are the 10 greatest shares for buyers to purchase now… and Nvidia wasn’t one in all them. The ten shares that made the minimize might produce monster returns within the coming years.Inventory Advisor supplies buyers with an easy-to-follow blueprint for fulfillment, together with steering on constructing a portfolio, common updates from analysts, and two new inventory picks every month. The Inventory Advisor service has greater than tripled the return of S&P 500 since 2002*.See the ten shares*Inventory Advisor returns as of March 18, 2024HSBC Holdings is an promoting accomplice of The Ascent, a Motley Idiot firm. Danny Vena has positions in Nvidia. The Motley Idiot has positions in and recommends Nvidia and Truist Monetary. The Motley Idiot recommends HSBC Holdings. The Motley Idiot has a disclosure coverage.Why Nvidia Inventory Popped on Monday Morning was initially revealed by The Motley Idiot