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Nvidia and SemiAnalysis Clash Over Reported Kyber Rack Delay

A research firm says a complex multi‑layer PCB has pushed Nvidia’s Kyber NVL144 rack to 2028 which could affect how the company scales Rubin Ultra systems.

Overview

  • SemiAnalysis published a report saying the Kyber NVL144 rack has slipped more than 12 months to 2028 because the orthogonal midplane PCB is proving hard to manufacture at scale.
  • Nvidia issued a categorical denial that its roadmap is delayed and said key platforms remain on schedule with production targets intact.
  • SemiAnalysis also said Nvidia cancelled a stopgap NVL72x2 back‑to‑back rack after hyperscaler pushback and warned the larger NVL576 optical-linked configuration may be limited or delayed.
  • Nvidia’s current Rubin systems are in production and expected to begin shipping to major cloud partners this fall, leaving short-term supply largely unaffected.
  • The dispute moved markets with some PCB suppliers’ shares falling after the report and Nvidia stock recovering after the denial, and it creates a possible window for rivals such as AMD and Google if the Kyber rollout is truly delayed.