Goldman Sachs: NVIDIA Price Target $300, AI Market Projected at $3 Trillion to $4 Trillion by 2030

According to TechFlow, Trend Research reports that Goldman Sachs' Sept. 10, 2026 research note highlights NVIDIA's reiteration at the Communacopia + Technology 2026 conference that the potential AI market size will reach $3 trillion to $4 trillion by 2030. Goldman Sachs maintains a Buy rating on NVIDIA with a 12-month target price of $300, implying a 34.1% upside from the Sept. 9 closing price of $223.67. The target price is derived from a 30x P/E ratio applied to a normalized EPS of $10. Management has reiterated expectations of roughly 70% year-over-year growth in CY27.

Goldman Sachs notes that upstream supply constraints span advanced packaging, wafers, and memory, while data center power and siting face similar limitations; NVIDIA’s ecosystem scale and customer visibility remain key advantages. Jensen Huang maintains an optimistic outlook on Physical AI, citing autonomous driving as the primary use case, with reasoning-based manipulation systems expected to trigger the next inflection point in approximately two years. Downside risks outlined by Goldman Sachs include a slowdown in AI infrastructure spending, margin pressure and share erosion driven by heightened competition, and ongoing supply constraints.