“Lots of things are going right for Nvidia these days. But booming sales of its flagship AI chip are particularly important for a company now commanding a market cap more than $5 trillion.
During his keynote address at the company's GTC conference in Washington, D.C. on Tuesday, Chief Executive Jensen Huang disclosed that the company shipped about six million of its Blackwell GPU chips in the past four quarters since their initial launch. He then said the company has enough visibility to project combined sales of Blackwell and its next-generation Rubin chip hitting $500 billion for the two-year period ending at the end of 2026.
"This is how much business is on the books," Huang said.
Analysts on Wednesday widely noted those comments strongly suggest Nvidia will exceed the $257 billion in data-center revenue that Wall Street projects for the fiscal year ending in January 2027. Tim Arcuri of UBS said in a report that the company's comments "suggests Street estimates are too low by a significant margin."
It should be noted that Nvidia's recent forecasts haven't included sales of advanced AI chips to China, given the continuing trade dispute. In a chat with reporters aboard Air Force One on Wednesday, President Trump reportedly raised the possibility of discussing Nvidia's chips during his meeting with Chinese President Xi.
Arcuri called China an "upside wild card" that could boost Nvidia's Blackwell prospects even more, depending on the outcome of the talks.” [1]
Do the Chinese want to become dependent on Nvidia?
1. Nvidia's Blackwell Is Key to Market Cap Of $5 Trillion. Gallagher, Dan. Wall Street Journal, Eastern edition; New York, N.Y.. 30 Oct 2025: B11.
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