Overview
- A new valuation-focused analysis argues Nvidia shares could slide toward $100 in 2026 even as the stock trades near $200.
- Since early 2023, the company has added roughly $4.1 trillion in market value and briefly touched a $5 trillion market cap.
- Nvidia’s Hopper, Blackwell, and Blackwell Ultra GPUs remain the preferred chips for AI data centers, reinforcing pricing power.
- Gross margin has climbed into the mid-70% range, supported by the widely used CUDA software platform that keeps customers tied to Nvidia hardware.
- Management is pursuing an annual product cadence, with the named Vera Rubin successor expected to improve training efficiency for large language models by requiring fewer GPUs.