Nvidia (NVDA) shares are slipping even though the AI darling announced a bunch of partnerships with European businesses, including one with Paris-headquartered Mistral AI on Wednesday. 

In its press release, Nvidia said the French startup has committed to building an AI cloud powered by 18,000 of its latest Blackwell chips, which will help European companies “develop and deploy AI” using Mistral’s proprietary models. 

Despite today’s decline, Nvidia stock is up more than 60% versus its April low. 

How Would Nvidia Stock Benefit From Mistral Deal?

NVDA’s team-up with Mistral is significant for the semiconductor stock since it could boost the company’s revenue.

Additionally, the multinational gets to strengthen its foothold in Europe’s rapidly growing artificial intelligence infrastructure market on the back of this partnership. 

What the deal also indicates is continued demand for Nvidia’s latest hardware, especially in high-performance, model-centric applications. 

In short, the Mistral partnership reinforces NVDA’s dominance in the global AI arms race and may also help justify the premium multiple on Nvidia stock moving forward. 

Rosenblatt Raises Price Target on NVDA Shares

Rosenblatt analyst Hans Mosesmann recommends owning Nvidia shares following partnerships the company announced with European businesses on Wednesday. 

In his research note, Mosesmann said he’s bullish on NVDA “due to its leadership in AI and ability to expand into full-rack scale deployments, including scale-up and scale-out networks.”

Rosenblatt Securities maintained its “Buy” rating on Nvidia stock this morning and raised its price target on the Nasdaq-listed firm to $200, indicating potential upside of another 42% from here. 

According to Mosesmann, concerns of U.S. export restrictions and what they’d mean for the firm’s business in China are somewhat overblown. 

Nvidia Remains a Wall Street Favorite in 2025

Wall Street remains bullish on Nvidia stock as Jensen Huang continues to ink sizable deals not just in the U.S., but internationally as well. 

The consensus rating on NVDA shares currently sits at “Strong Buy” with the mean target of about $174 suggesting potential upside of some 23% from current levels.