Overview
- Nvidia reiterated in its latest quarter that cloud GPUs are sold out as supply lags demand, with analysts citing a massive multi-quarter backlog tied to Blackwell and Rubin roadmaps.
- Bernstein reaffirmed Nvidia at Outperform with a $275 target, arguing the shares trade near decade‑low relative valuations even as earnings estimates rise and China sales could provide upside once clarified.
- Micron reported record fiscal Q1 results of $13.6 billion revenue and $4.78 adjusted EPS, guided sharply higher for the current quarter, and credited AI-driven HBM, DRAM, and NAND demand and tighter supply.
- Raymond James estimated potential 2026 revenue upside of $7–$12.5 billion for Nvidia and $500–$800 million for AMD if GPU shipments to China resume, though reporting on approvals remains conflicting.
- Reports described a non-exclusive licensing agreement between Groq and Nvidia and a roughly $20 billion Groq asset purchase by Nvidia, which have not been confirmed by the companies.