BofA keeps buy rating on Nvidia despite high Groq price

Bank of America called Nvidia's $20 billion Groq licensing deal expensive but strategic, noting Groq’s language processing unit differs from Nvidia GPUs yet supports AI expansion. BofA compared it to Nvidia’s Mellanox acquisition, key to its networking moat. The firm reiterated a Buy rating and $275 target; Baird also reaffirmed Outperform.