NVDA ▼ -1.4% - NVIDIA Corporation $NVDA Baird on NVDA Outperform, PT $500 Nvidia remains one of our top large-cap ideas owing to market share leadership and ongoing share gains including in inferencing, recent reacceleration in revenue growth driven by agentic AI expected to gain further momentum next year, along with strong initial traction for incremental-revenue architectures including stand-alone Vera and Groq 3 inference accelerator. Our recent datapoints highlight very strong demand for Nvidia's upcoming Grok 3 LPX inferencing accelerator, while we expect stand-alone Vera to carve an estimated low-teen unit market share within the AI server CPU market in 2027. WSJ reports that Anthropic entered into a $35B cloud compute agreement with Nvidia-backed neocloud provider Lambda. Net, Anthropic is engaged in a $35B cloud compute agreement within the Nvidia AI ecosystem. It is difficult for us to tell the mix of GPUs versus TPUs and other custom ASICs used by Anthropic going forward, but we expect Nvidia to retain a compute lead (both training and inferencing) at Anthropic for years to come, with the above numbers leading us to estimate Nvidia has secured about double the GW capacity at Anthropic versus other AI architecture suppliers, both via Lambda along with agreements Anthropic has with leading hyperscalers. Lambda operates 14 data centers (to our count) offering Nvidia-GPU powered AI factories. It was reported three days ago that Lambda raised about $1B in private short-term debt for computing chips tied to its collaboration with Microsoft involving Microsoft leasing tens of thousands of NVDA GPUs. In 2025, Nvidia signed a $1.5B contract with Lambda to lease back 18k GPU-based servers previously leased to Lambda. Analyst: Tristan Gerra Baird maintained an Outperform rating on NVIDIA with a $500 price target, citing the company's market leadership in AI chips and strong demand for upcoming products like the Grok 3 inference accelerator and Vera CPU architecture. The analyst highlighted that Anthropic's $35B cloud compute agreement with Lambda (an NVIDIA-backed provider) positions NVIDIA to capture roughly double the GPU capacity versus competing chip suppliers, while a separate $1.5B 2025 contract with Lambda further secures NVIDIA's inferencing leadership. Despite the bullish analyst commentary, NVIDIA shares declined 1.4% today. 01-SEP-2026 05:27 AM ET