Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon, today is Monday, November 11th, and I'm your host, Kim Khan.

Our top story so far.

Invidia is in the spotlight as Piper Sandler named the stock its top large-cap pick due to its dominant positioning

in the AI accelerator market.

Analyst Harsh Kumar said, our viewpoint is rooted in the belief that the overall total

addressable market for AI accelerators will continue to rise in 2025 by about $70 billion,

and we see Nvidia well positioned to capture most of that incremental TAM increase while

seating only a small bit to its merchant ship competitors. In terms of other gainers, we only see

broadcom as making further incremental progress in the market, Kumar added. He has an overweight rating

on Nvidia and a $175 price target. Kumar also said the CAPEX trends at the big hyperscalers such as Amazon, Microsoft, and

meta, continue to be favorable.

All else equal, we see at least sustained levels of CAPEX through 2025, if not accelerated,

with a shift towards chips and servers, and spend away from buildings and other fixed

property, he said.

We think this clearly benefits Nvidia in the near to midterm future, and as such, we are taking

our numbers up slightly for the January quarter and subsequent full year 2026 quarters.

In today's trading, stocks are mixed, with trading lighter than usual, the bond market is

closed for Veterans Day, but the crypto momentum continues, with trading lighter than usual, the bond market is closed for Veterans Day,

but the crypto momentum continues, with Bitcoin hitting another record high. Among active stocks

today, monolithic power systems is plunging after Edgewater Research said its allocation to

NVIDIA's Blackwell line of GPUs is at risk. Performance issues with manpower's voltage regulator

...