There's no denying that artificial intelligence (AI) has gone viral over the past year or so, with graphics processing units (GPUs) by Nvidia (NASDAQ: NVDA) fueling the fire. In recent weeks, however, the stock has stalled, and investors are wondering what's to come.

One Wall Street analyst thinks investors are overthinking it.

Melius Research analyst Ben Reitzes reiterated his buy rating on Nvidia stock while raising his price target to $1,125. That represents potential gains for investors of 28% over the coming year compared to the stock's closing price on Monday. The analyst points to expanding capital expenditures by the "Big Three" cloud providers and other big tech companies as evidence that Nvidia stock has further to run.

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Source Fool.com