Nvidia Is the Best Stock Right Now as $420 Target Emerges

The Nvidia stock price target is back in the headlines, and this time it’s a $420 call from Melius Research, one of the more bullish Nvidia price target 2026 estimates on Wall Street right now. The number arrived just after Nvidia confirmed a $3.5 billion Nvidia MediaTek investment, and it’s also landed while plenty of investors are still asking if Nvidia is even the best stock to hold going into next year. Between the two stories, the broader Nvidia stock forecast has gotten a fairly noticeable lift, and the Nvidia stock price target conversation is shifting fast.

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Nvidia Stock Forecast And $420 Target After MediaTek Investment

NVDA MediaTek Investment Deepens AI Partnership

Nvidia is putting $3.5 billion into MediaTek’s convertible bonds, and the two companies are calling it their largest direct investment outside the US so far. The expanded deal touches AI data centers, PC chips under the RTX Spark and DGX Spark lines, and even automotive platforms, with MediaTek now adopting Nvidia’s NVLink Fusion so its own custom chips can plug straight into Nvidia’s rack scale systems. At the time of writing, analysts are mostly reading the Nvidia MediaTek investment as a way for Nvidia to stay at the center of AI infrastructure even as some of its biggest customers keep designing more of their own silicon.

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