Nvidia Shares Jump 6% on GTC Taipei News as BofA Sets $350 Price Target

Key Facts

In a move reflecting a strategic shift in the semiconductor landscape, Nvidia has officially entered the PC processor market with its new N1X processor. The new chip, specifically designed for Windows-based systems, is the result of a technical collaboration with MediaTek and will utilize the Windows for Arm architecture. According to reports, industry giants including Microsoft, HP, ASUS, and MSI, alongside Dell and Lenovo, are scheduled to debut laptops and desktops featuring the N1X processor as early as this fall.

Market reaction was swift and bullish, with NVDA shares jumping more than 6% to trade at $225 following the expansion of its AI platform and PC offerings at the GTC Taipei event. Adding to the momentum, Bank of America maintained its 'Buy' rating on the stock, setting a price objective of $350. This optimism underscores Nvidia's potential to disrupt the CPU market currently dominated by Intel and AMD, as the company leverages its AI leadership to capture PC market share. Per market data, this surge reinforces Nvidia's position as a primary beneficiary of the ongoing hardware refresh cycle.

Traders are now monitoring NVDA's price action around the $225 level (close June 1, 2026) to see if the breakout holds. Looking ahead, the market awaits the US CB Consumer Confidence data on May 26, 2026, for clues on consumer electronics demand. Furthermore, the release of US GDP growth figures on May 28, 2026, will serve as a critical catalyst for the broader technology sector and high-growth semiconductor stocks.