Overview
- Nvidia reported record quarterly sales tied to data centers and said cloud GPUs are sold out, underscoring sustained hyperscaler demand.
- Wall Street reiterated bullish views with price targets around $250–$275 at Bank of America, Bernstein, Jefferies and Truist, and a $350 target at Tigress, citing a Blackwell–Rubin–networking opportunity of at least $500 billion for 2025–2026.
- Nvidia expanded its lineup with the RTX PRO 5000 72GB Blackwell GPU now generally available and introduced the Nemotron 3 family of open models, as analysts expect Blackwell‑backed LLM launches to begin in early 2026.
- Competition is intensifying as Broadcom’s custom AI accelerators gain traction and hyperscalers advance in‑house chips like Google’s TPUs and Amazon’s Trainium, with reports pointing to wider external access to TPUs.
- Investors are tracking risks from data‑center financing and policy, including scrutiny of Oracle’s OpenAI commitments, construction bottlenecks, and unresolved licensing for potential shipments of certain Nvidia chips to China.