JPMorgan raised its Nvidia target price to $320 from $280 on Aug. 27, an increase of about 14.3%, after the chipmaker reported an earnings surprise. Nvidia said fiscal second-quarter revenue for the May-to-July period rose 106% from a year earlier to $96.22 billion, beating the $92.17 billion estimate compiled by London Stock Exchange Group by more than $4 billion. The results marked the company’s 13th consecutive quarter of record revenue. Nvidia shares closed at $209.66 on Aug. 26, down 1.59% from the previous session. Chief Executive Officer Jensen Huang said artificial intelligence had reached an inflection point, adding, "Tokens are productive and profitable. Now compute has become revenue."