Another day, another round of upward revisions for Nvidia (NASDAQ:NVDA) forecasts. This has become a regular occurrence on Wall Street as analysts scramble to keep pace with the rapid growth unfolding at the AI chip giant.
Jefferies’ Blayne Curtis, a 5-star analyst rated in the top 1% of the Street’s stock pros, doesn’t just see Nvidia as a giant; he dubs it ‘The King and Kingmaker’ of the AI chip world, underscoring its unmatched significance and dominant market position.
Curtis has raised his already above-consensus estimates to a respective revenue/EPS of $181 billion/$4.23 (from $161.6 billion/$3.73) in FY25 and to $206 billion/$4.98 (from $188.6 billion/$4.54) in FY26.
Consequently, Curtis has set a new price target of $150 for NVDA shares (up from $135), reflecting one-year share gains of 19%. Naturally, Curtis maintains his Buy rating. (To watch Curtis’ track record, click here)
The new outlook follows Curtis’ firsthand look at Nvidia’s GB200 NVL, described by the company as an “exascale computer in a single rack.” Curtis has got a more hyperbolic description, calling it “the next major step in AI innovation.”
This is an important step, says Curtis, because Nvidia can link 36/72 GPUs together, utilizing 1.8TB/s of NVLink connectivity per GPU without the need for active components (like DSPs), thereby reducing power consumption and latency. This scalability could expand even more, as Nvidia has already mentioned an NVL576 SuperPOD. As such, Curtis assumes the “roadmap extends much further.”
For the sake of context, consider that the HGX H100/200 connects the 8 GPUs on the GPU baseboard with 900GB/s NVLink. “So this matches the same ratio per GPU die (recall the B200 is 2 GPU die so 1.8TB/s divided by 2) but extends the connectivity across 36/72 GPUs,” Curtis explained.
Elsewhere, Curtis also anticipates Nvidia will ramp its latest chip for the Chinese market, the H20, in the second half of the year. That said, the analyst is aware of the potential risks if the US government lowers the AI performance restrictions, a factor that could “block sales.” The H20 was developed in response to US restrictions banning sales of the A100/H100 and A800/H800 in China, with the H20 specifically built to comply with the restrictions.
Turning now to the broader Wall Street view, where Curtis is far from the only NVDA bull. He’s joined by 37 other analysts who also recommend buying the stock, outnumbering the 3 analysts who rate it a Hold (i.e. Neutral). This consensus results in a Strong Buy rating. The average target price is $156.35, representing a 24% upside from the current share price. (See Nvidia stock forecast)
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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
