if theres one takeaway from nvidia s developer conference its the computing firms dominant leadership in artificial intelligence according to wall street analysts nvidia unveiled a slew of new products and partnerships at its gtc conference on tuesday that gave analysts confidence in the chipmakers growing ai capabilities the firm unveiled cuda quantum a platform for developers to build quantum algorithms investors piled into nvidia shares this year as they sought ways to play the growing ai trend nvidia shares are 79 higher in 2023 after plunging 50 last year nvda 1y mountain nvidia shares 1year the event only added to their confidence in the stock following the gtc conference bank of americas vivek arya reiterated a buy rating on nvidia and raised his price target saying nvidias ai capabilities only expands its total addressable market while citing nvidias partnerships with microsoft amazon google and others arya said nvidias dominance in the generative ai and the large language model market could reshape the existing tech industry the product and partnership announcements fundamentally widen nvdas competitive moat while expanding oppty to a multi tn itinfrastructure as a service industry tam from narrower chiponly industry opportunity arya wrote to clients on tuesday nvdas combination of scale and vision to invest in a fullstack turnkey hardware software systems services developers model could accelerate the adoption of llms by enterprises in almost every endmarket arya added whats more aryas 310 price target increased from 275 implies shares can jump 18 from tuesdays closing price of 26199 meanwhile goldman sachs toshiya hari reiterated a buy rating on nvidia saying the new products solidify the chip companys position as a key enabler of ai haris 12month price target of 275 means shares can rise another 5 while we are not making any changes to our forward estimates we come away from the event incrementally positive on the stock with the new offerings eg inference platforms dgx cloud ai foundations and omniverse cloud expected to solidify nvidias position as the key enabler of ai in the cloud and across a broad spectrum of verticals that span healthcare automotive and logistics hari wrote in a tuesday note jpmorgans harlan sur reiterated an overweight rating saying nvidias dominant ai leadership is clear following the event still the analysts december 2023 target of 250 means about 4 downside from tuesdays closing price with leading silicon gpudpu networking hardwaresoftware platforms and a strong ecosystem nvidia is wellpositioned to continue to benefit from major secular trends in ai high performance computing gaming and autonomous vehicles in our view sur wrote to clients on wednesday bottom line nvidia continues to be 12 steps ahead of its competitors in accelerated computing siliconsystems software and ecosystems sur added elsewhere morgan stanleys joseph moore also reiterated an overweight rating as well as his 304 price target that suggests roughly 16 upside for nvidia shares following tuesdays close the analyst noted that he missed upside in the stock before upgrading nvidia shares last week  but he said he expects nvidia will continue to outperform from here chat gpt capability is not new but its introduction has clearly spurred a wave of investment that we think is at an early stage valuation is obviously expensive on both an absolute and relative basis but with the combination of idiosyncratically strong short and long term business trends it seems likely stay that way moore said to clients in a wednesday note —cnbcs michael bloom contributed to this report