Citi Sees NVIDIA (NVDA) Facing Growing Pressure From Broadcom (AVGO) and Google (GOOGL)

NVIDIA Corporation (NVDA) is facing competition from other AI chipmakers, leading Citi to lower its price target to $200 per share from $210.

Broadcom’s (AVGO) strong quarterly results and a $10 billion order for custom AI chips have contributed to its competitive position. Citi estimates a 4% decrease in Nvidia’s 2026 GPU sales due to increased competition from Broadcom (AVGO) and Google’s (GOOGL) TPUs. TPUs are seen as a threat to Nvidia’s GPU sales. Nvidia specializes in AI-driven solutions for various industries, but some AI stocks may offer greater upside potential.