Baird downgrades Nvidia on China curbs, AI demand worries
Baird downgraded Nvidia and cut its price target by 60% on Wednesday, citing growing risks from US restrictions on chip sales to China and a potential slowdown in AI spending that could weigh on demand for its prized chips.
The brokerage downgraded the chip giant to “Neutral” from “Buy” and cut its price target to $200 from $500
