NVIDIA to Rise on AI for Monitoring Citizens: UBS

As governments around the world follow China, leveraging artificial intelligence (AI) technology for massive surveillance infrastructure and real-time facial recognition, chipmaker NVIDIA Corp. (NVDA) is set to gain on an additional $5 billion sales opportunity by 2020, according to one team of bulls on the Street. In a note to clients Monday, analysts at UBS lifted their price target on NVDA stock from $266 to $285, reflecting an 8.4% upside from Monday morning, as reported by CNBC. Trading down about 0.9% at $262.94, NVIDIA shares have gained 36.1% year-to-date (YTD) and returned 73.4% over the most recent 12 months, compared to the S&P 500's 3.4% growth and 13.5% increase over the same respective periods. UBS cited the Santa Clara, California-based semiconductor manufacturer's leadership in the machine learning chip and software markets. In particular, the analysts are upbeat on NVIDIA's Metropolis platform, which enables governments to use AI-powered software to analyze video feeds for traffic monitoring, law enforcement and public safety services.