Gains in semiconductor company Nvidia Corp. (NVDA) - Get NVIDIA Corporation Report  inspired a rally across chipmakers, though the rest of the tech sector sat it out. 

Nvidia reached an all-time high earlier on Monday, Sept. 18, and inspired gains in fellow chipmakers after a bullish note from Bank of America analyst Vivek Arya. Arya raised the firm's price target to $210, up from $185. The new price target implies a 17% upside to the stock's closing price on Friday, Sept. 15. 

In a note, Arya said Nvidia has an "underappreciated transformation from a traditional PC graphics-chip vendor into a supplier into high-end gaming, enterprise graphics, cloud, accelerated computing and automotive markets." Arya is also confident Nvidia can dominate the emerging $30 billion artificial-intelligence chip market. 

TheStreet Recommends

Other chipmakers including Micron Technology Inc. (MU) - Get Micron Technology, Inc. (MU) Report , Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) - Get Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR Report , Analog Devices Inc. (ADI) - Get Analog Devices, Inc. Report , Semiconductor Manufacturing International (SMI) , and Texas Instruments Inc. (TXN) - Get Texas Instruments Incorporated Report  were also higher.

Nvidia is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells NVDA? Learn more now.

In the broader tech space, Microsoft Corp. (MSFT) - Get Microsoft Corporation (MSFT) Report , Cisco Systems Inc. (CSCO) - Get Cisco Systems, Inc. Report , SAP SE (SAP) - Get SAP SE Sponsored ADR Report , and Accenture PLC (ACN) - Get Accenture Plc Class A Report  were narrowly mixed, while the Technology Select Sector SPDR ETF (XLK) - Get Technology Select Sector SPDR Fund Report  dipped 0.2%. 

More of What's Trending on TheStreet: