search icon
      blog search icon

      An Analyst Rating Led Hewlett Packard (HPE) Stock To Soar

      By Fahim Awan

      Published on

      December 1, 2023

      12:27 PM UTC

      An Analyst Rating Led Hewlett Packard (HPE) Stock To Soar

      The shares of Hewlett Packard Enterprise Company (NYSE: HPE) experienced an upward trajectory on Thursday, propelled by an upgraded recommendation from analysts. Hewlett Packard’s stock witnessed a 2.36% ascent on the US market, concluding the trading session at $16.91.

      Morgan Stanley upgraded its recommendation for HPE stock, transitioning from an initial “Underweight” rating to an “Equal-Weight” designation. Despite this adjustment, the firm maintained the price target for HPE at $16.

      Furthermore, the surge in Hewlett Packard’s stock was bolstered by a significant collaboration announced the previous day. HPE unveiled an extended strategic partnership with NVIDIA to construct an enterprise computing solution tailored for generative AI (GenAI).

      This co-engineered, pre-configured AI tuning and inferencing solution empowers enterprises of all sizes to swiftly customize foundational models using private data and deploy production applications seamlessly, spanning from edge to cloud. The solution streamlines the complexities associated with developing and deploying GenAI infrastructure, providing a comprehensive AI tuning and inferencing solution from HPE and NVIDIA.

      As enterprises embark on developing and deploying GenAI models for applications such as conversational search, content creation, and business process automation, they necessitate a software and infrastructure stack that can be rapidly deployed based on business requirements.

      The newly introduced enterprise computing solution for generative AI marks an expansion of the collaboration between HPE and NVIDIA, offering full-stack, out-of-the-box AI solutions. These solutions integrate HPE Machine Learning Development Environment Software, HPE ProLiant Compute, HPE Ezmeral Software, and HPE Cray Supercomputers with the NVIDIA AI Enterprise software suite, encompassing the NVIDIA NeMo framework.

      HPE and NVIDIA find themselves in a distinctive position to provide an all-encompassing AI-native solution, significantly simplifying the journey of developing and deploying AI models through a portfolio of pre-configured solutions. The strategic collaboration between HPE and NVIDIA aims to substantially lower barriers for customers seeking to revolutionize their businesses with AI.

      The era of generative AI is advancing rapidly, with enterprises fervently reimagining their operations. The expanded collaboration will empower enterprises to achieve unprecedented productivity by leveraging AI applications that seamlessly integrate with business data, facilitating the development of accurate assistants, informed chatbots, and semantic search capabilities.

      More From Stocks telegraph