Goldman Sachs quick comment on Jensen Huang's GTC speech: Met two key investor expectations
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Nvidia CEO Jensen Huang's keynote speech at the GTC 2026 conference sent a strong signal of long-term growth, successfully meeting two core market expectations regarding the outlook for computing power demand and inference market layout.
According to Chasing Wind Trading Desk, Goldman Sachs stated in its latest research report released on Monday local time that Nvidia disclosed at the conference that its data center business order volume is expected to reach $1 trillion by 2027. This clear long-term revenue visibility far exceeds Wall Street’s general expectations, directly alleviating investor concerns that artificial intelligence capital expenditure might peak in 2026.
At the same time, Nvidia announced the launch of a new inference product based on Groq infrastructure, marking a key step for the company into the increasingly competitive AI inference market. Goldman Sachs predicted during US stock trading hours on the same day that, supported by these positive fundamentals, Nvidia's share price would steadily maintain the preliminary 2% increase achieved after the event. On Monday, Nvidia closed up 1.63%.
Based on optimistic expectations for potential catalysts in the coming months, Goldman Sachs reiterated its "buy" rating on Nvidia and maintained its 12-month target price of $250, emphasizing that the capital expenditure plans of super cloud service providers and new models based on the Blackwell architecture will continue to consolidate the company's performance leadership position.
Trillion-dollar order guidance dispels concerns of “capital expenditure peak”
According to Goldman Sachs analysis, Nvidia significantly increased the long-term visibility of its data center revenue in its financial update.
The company now expects that by 2027, its computing and networking business spanning the Blackwell and Rubin architectures will generate more than $1 trillion in revenue. This figure doubles the previous guidance of “$500 billion in revenue by 2026.”
Goldman Sachs pointed out that this strong growth outlook not only aligns closely with its estimates but also far surpasses market expectations. This move provides investors with reassurance, effectively resolving common market anxieties about a possible capital expenditure peak in 2026.
New-generation inference products strengthen market monetization capability
To adapt to the industry’s shift toward agentic AI, Nvidia announced the launch of a new Groq LPX rack specifically designed for inference workloads.
According to Goldman Sachs report, this product was jointly designed with Nvidia’s Vera Rubin platform. Compared to the Blackwell platform, its per-watt throughput is increased by 35 times and brings over 10 times revenue opportunities for trillion-parameter models.
Goldman Sachs believes this product precisely addresses the current power bottlenecks facing data centers. Through its tiered premium product roadmap, it provides enterprises with broader commercial monetization space. Nvidia expects to begin shipping the LPX racks in the third quarter of 2026.
Dual-track approach: network strategy and enterprise AI ecosystem
In network infrastructure, Nvidia continues its dual layout of copper and optical solutions in both horizontal and vertical network expansion.
The company confirmed that the Spectrum-X CPO switches for horizontally expanded networks have entered mass production; meanwhile, its Oberon rack (for Rubin) adopts vertically oriented CPO switches, supporting up to 576 GPUs in a single cluster. Additionally, Nvidia launched NemoClaw for the OpenClaw agent platform. This software uses agent toolkit optimization functions to provide local computing support and necessary security safeguards for autonomous agents to run around the clock. Goldman Sachs considers this a key development for the large-scale adoption of agentic AI on the enterprise side.
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