Bank of America makes a surprise call on Nvidia backed stock

US lawmakers are expressing concerns over the recent decision to allow Nvidia to sell its advanced H200 AI chips to China, warning that this could jeopardize Washington's strategic advantage in cutting-edge artificial intelligence technology. The committee chair emphasized the risks associated with transferring sensitive technology to Beijing.

Bank of America shares have reached a closing price of $55.14, marking the first time the stock has hit this level since November 2006, indicating a significant recovery from the financial crisis of 2008.

Bank of America has reset its stock price target for Broadcom following the company's Q4 earnings report, where CEO Hock Tan highlighted a significant year-over-year growth in their custom-accelerated business. Broadcom's performance exceeded expectations, with a revenue forecast of approximately $19.1 billion for the upcoming fiscal first quarter.

Bank of America has indicated that gold prices, currently consolidating between $4,200 and $4,300, are more likely experiencing a temporary pause rather than hitting a ceiling. The price of gold has surged dramatically in 2025, rising from approximately $2,630 per ounce to around $4,282, marking an increase of about 63%.

The rapid advancement of artificial intelligence (AI) has sparked widespread concern among the public, particularly regarding the potential for mass layoffs and a deteriorating job market, especially for younger workers. Dario Amodei, CEO of Anthropic, has warned that AI could eliminate half of all entry-level white-collar jobs in the coming years, intensifying fears of unemployment.

Jensen Huang, CEO of Nvidia, has been recognized as the Financial Times Person of the Year for his pivotal role in driving the artificial intelligence boom, which has the potential to transform the global economy. Under his leadership, Nvidia has emerged as a key player in AI technology, significantly impacting various sectors.

Bank of America has adjusted its stock forecast for Nvidia following a private meeting, reflecting ongoing investor concerns about the sustainability of artificial intelligence investments. This comes amid a broader market sentiment that views AI as potentially overvalued, despite some analysts' reassurances.

Bank of America has announced a significant increase in managing director promotions within its technology unit, reflecting a strategic focus on enhancing leadership in this critical area. This move is part of the bank's broader efforts to strengthen its technological capabilities and adapt to evolving market demands.