NVIDIA Corporation (NASDAQ:NVDA) announced that its deep learning platform is now available as part of Baidu Cloud’s deep learning service, giving enterprise customers instant access to the world’s most adopted AI tools.
The new Baidu Cloud offers the latest GPU computing technology, including Pascal™ architecture-based NVIDIA® Tesla® P40 GPUs and NVIDIA deep learning software. It provides both training and inference acceleration for open-source deep learning frameworks, such as TensorFlow and PaddlePaddle.
“Baidu and NVIDIA are long-time partners in advancing the state of the art in AI,” said Ian Buck, general manager of Accelerated Computing at NVIDIA. “Baidu understands that enterprises need GPU computing to process the massive volumes of data needed for deep learning. Through Baidu Cloud, companies can quickly convert data into insights that lead to breakthrough products and services.”
“Our partnership with NVIDIA has long provided Baidu with a competitive advantage,” said Shiming Yin, vice president and general manager of Baidu Cloud Computing. “Baidu Cloud Service powered by NVIDIA’s deep learning software and Pascal GPUs will help our customers accelerate their deep learning training and inference, resulting in faster time to market for a new generation of intelligent products and applications.”
Shares of Nvidia are up nearly one percent to $96.20. NVDA has a 1-year high of $120.92 and a 1-year low of $34.40. The stock’s 50-day moving average is $102.75 and its 200-day moving average is $94.85.
On the ratings front, NVDA has been the subject of a number of recent research reports. In a report issued on April 13, Goldman Sachs analyst Toshiya Hari reiterated a Buy rating on the stock, with a price target of $130, which implies an upside of 36% from current levels. On April 10, BMO’s Ambrish Srivastava reiterated a Sell rating on the stock and has a price target of $85.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Toshiya Hari and Ambrish Srivastava have a yearly average return of 11.7% and 13.0% respectively. Hari has a success rate of 60% and is ranked #1099 out of 4555 analysts, while Srivastava has a success rate of 74% and is ranked #343.
Sentiment on the street is mostly bullish on NVDA stock. Out of 25 analysts who cover the stock, 13 suggest a Buy rating , 7 suggest a Hold and 5 recommend to Sell the stock. The 12-month average price target assigned to the stock is $112.58, which implies an upside of 18% from current levels.
NVIDIA Corp. designs and manufactures computer graphics processors, chipsets, and related multimedia software. The company operates through two segments: Graphics Processing Unit and Tegra Processor. The Graphics Processing Unit segment includes sales of the company’s GeForce discrete and chipset products that supports desktop and notebook PCs plus license fees from Intel and sales of memory products. The Tegra Processors segment provides processors that deliver superior visual and multimedia experience on tablets, smart phones and gaming devices while consuming minimal power.