Goldman Sachs interprets Jensen Huang's GTC speech: $500 billion revenue forecast, exceeding market expectations, with room for further upward revision.

Goldman Sachs interprets Jensen Huang's GTC speech: $500 billion revenue forecast, exceeding market expectations, with room for further upward revision.

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Author: Long Yue

Source: Hard AI

NVIDIA sent out an exceptionally strong revenue signal at its latest GTC conference, sparking positive interpretations on Wall Street.

On October 28, NVIDIA CEO Jensen Huang revealed at the GTC conference that the company has “visibility” toward achieving a cumulative $500 billion in data center business revenue between 2025 and 2026. This revenue expectation will cover products based on its Blackwell and next-generation Rubin architectures.

Goldman Sachs’ latest research report emphasizes that the $500 billion figure is significantly above previous market expectations. The bank's analysts noted that this target is 12% higher than the $447 billion consensus reflected by Visible Alpha Consensus Data, and 10% higher than Goldman Sachs’ own forecast of $453 billion.

Goldman Sachs believes this increase in long-term revenue visibility is an “incremental positive factor” for NVIDIA’s stock price and has reiterated its “Buy” rating.

The bank's analysts highlighted in the report that although their forecasts for NVIDIA’s fiscal year 2026 are already about 7% higher than the market consensus, based on the latest management comments, they believe their figures still have “upward revision potential.”

Revenue Guidance Far Exceeds Expectations, Goldman Sachs Optimistic on Upside Potential

The $500 billion cumulative revenue target set by NVIDIA management is the strongest market signal sent at this GTC conference. The report further analyzes that there are several key variables that could drive NVIDIA’s performance beyond current expectations.

These factors include: the specific deployment pace of models by large clients such as OpenAI, the increasing contributions from non-traditional customers like sovereign governments, and the exact timing of the launch of the highly anticipated Rubin platform. All these could become catalysts for Goldman Sachs and the broader market to further raise their financial models.

Multiple Strategic Partnerships, Expansion of the AI Ecosystem

In addition to its stunning revenue guidance, NVIDIA also announced a series of strategic partnerships at the GTC conference aimed at strengthening its leadership in the AI ecosystem.

According to Goldman Sachs’ report, NVIDIA announced a $1 billion equity investment in Nokia, subscribing at $6.01 per share. This move is intended to accelerate the development and deployment of next-generation AI-native mobile networks and related infrastructure. At the same time, NVIDIA also released its ARC Aerial RAN computing platform.

In the field of high-performance computing, NVIDIA announced a collaboration with the US Department of Energy to deploy seven new supercomputer systems at its Argonne National Laboratory and Los Alamos National Laboratory. The Solstice and Equinox systems will be equipped with 100,000 and 10,000 NVIDIA Blackwell GPUs, respectively. Los Alamos National Laboratory has also confirmed the use of NVIDIA’s Vera Rubin platform to build its next-generation system.

In addition, the company has launched NVQLink, a high-speed interconnect technology for linking quantum computers with traditional computing systems, and announced a partnership with Uber to expand Uber’s Level 4 autonomous driving network using the Nvidia DRIVE AGX Hyperion 10 platform and DRIVE AV software.

 

This article is from the WeChat official account “Hard AI”. For more AI frontier news, please click here.

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