Veteran fund manager Dan Niles, who accurately predicted Nvidia’s stock rally, has updated his forecast due to a surprising shift in US-China regulations. Nvidia’s stock has surged 82% since early April, making it the largest US company. Niles expects an order surge from China following the lifting of export restrictions. The potential for agentic AI to drive chip demand has accelerated. As a result, Niles has rebooted his bullish outlook on Nvidia. Investors believe the worst is behind Nvidia after a 41% drop from January highs to April lows. The US administration’s clearance for Nvidia to resume H20 chip sales in China has removed a key overhang. Analysts anticipate a potential 10% increase in revenue estimates due to the thawing of China restrictions. Niles remains optimistic about Nvidia’s future growth, citing strong demand for inference chips driven by agentic AI adoption.

Read more at Yahoo Finance: Veteran fund manager who predicted Nvidia stock rally resets forecast on China shock