Overview
- Nvidia’s standing was reinforced in a BofA investor meeting, with the bank reiterating a Buy and noting GPUs remain a full generation ahead, a clear roadmap to Blackwell in early 2026 and Rubin in the second half of 2026, and continued reliance from major model builders.
- BofA highlighted demand and supply visibility supporting at least $500 billion in sales across 2025–2026, partnerships with OpenAI and Anthropic, and a mid‑70% gross‑margin outlook despite higher memory costs.
- The U.S. government approved sales of certain H200 chips to China, reopening part of the world’s No. 2 AI market and prompting expectations for analyst model updates.
- Nvidia posted fiscal Q3 FY2026 revenue of $57 billion, including $51.2 billion from data centers, with about $32 billion in net income and roughly 56% net profit margins.
- Competition is intensifying from AMD and hyperscalers developing custom accelerators, even as Nvidia retains roughly 90% of data‑center GPU share, a CUDA software moat, a market value near $4–$4.5 trillion after briefly topping $5 trillion, and bullish forecasts from some analysts that include sharp near‑term upside targets.