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Nvidia CEO Jensen Huang. Bloomberg/Getty Images Nvidia's sales and marketing organizations are seeing a changing of the guard as the AI boom reshapes demands on leadership.

Veterans at Nvidia are retiring, opening the door for longtime employees. And CEO Jensen Huang is tapping talent from outside the company — and outside the chip industry — to meet new challenges.

Nvidia's sales pitch has evolved. It has already convinced companies to choose its chips. To keep growing, it has to convince more businesses to adopt AI. These customers care less about hardware specifications than how Nvidia's AI can be put to work.

Leadership changes are most visible in sales and marketing, said former vice president of corporate marketing Greg Estes, while other areas of the company, such as finance, legal, operations, and software and hardware engineering, have remained relatively stable.

In marketing, Nvidia tapped Google Cloud executive Alison Wagonfeld to become its first chief marketing officer earlier this year, while Microsoft veteran Nick Parker became its new sales chief in August. Neither comes from the chip industry, though both bring years of experience helping businesses adopt software and cloud services.

Nick Parker, Nvidia's EVP of worldwide field operations.  Bloomberg/Getty Images At the same time, Huang's daughter Madison has gained influence beyond her formal marketing role, two former employees said.

Huang regularly reshapes Nvidia as the business evolves, said Scott Baker, a sales VP who retired in July after 26 years.

"It's truly a battleship spinning on a dime, and everyone gets aligned," he said.

Nvidia did not respond to requests for comment from Business Insider.

A 'deep bench' of younger Nvidia talentRetirees this year include former sales EVP Jay Puri, VP of enterprise marketing Laura Fay, SVP of enterprise business Shanker Trivedi, and sales VP Kevin Connors.

Fay said Huang doesn't want to lose longtime executives, many of whom he personally recruited. But as they move on, the next generation is getting a chance.

Before leaving in April after 17 years, Trivedi made mentorship part of his mission. He was ready to pass the baton after years of grueling travel and seven-day workweeks.

"Time stops for nobody," the 69-year-old said.

Trivedi said Nvidia has a "deep bench" of younger sales and marketing talent who know its culture, market, and partners inside out, including Raj Mirpuri in AI cloud infrastructure, Kimberly Powell in healthcare, and Kari Briski in AI software.

When he retired, the company divided Trivedi's responsibilities among multiple leaders. As Nvidia's revenue soared during the AI boom, his job had ultimately become too big for one person.

"Better to flatten the structure and gain velocity," he said.

Another Huang is gaining influenceOne insider bringing an unconventional background to Nvidia's marketing ranks is Jensen Huang's daughter, Madison Huang.

Madison formerly worked at French luxury conglomerate LVMH in hospitality marketing before joining Nvidia as an MBA intern in 2020. She has quickly ascended to senior director of product marketing for physical AI.

One former employee said Madison's experience working on luxury brands brought a fresh perspective to a marketing team traditionally staffed by semiconductor veterans.

Madison Huang, senior director of product marketing for physical AI at Nvidia.  Bloomberg/Getty Images Job titles can be fluid at Nvidia, and a second former employee said Madison's remit extends beyond physical AI marketing. They said she exerts authority across multiple parts of the company and directs teams at all levels on strategy and business decisions.

Madison is also among a small circle of executives known to travel with her father. And their close relationship gives her the ability to anticipate his needs during high-level meetings and appearances, the first former employee said.

"She 'speaks Jensen' very well," the former employee said, "so he doesn't have to explain himself to her."

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Geoff Weiss is a senior reporter on Business Insider’s tech team, where he covers Nvidia and AI infrastructure. His reporting focuses on the business of AI compute, emerging startups, and the people and strategies shaping the industry.Previously, Geoff was on the media desk, covering YouTube and Netflix, and themes like the intersection of Hollywood and the creator economy. His work on Netflix’s video podcasting ambitions and Mr Beast’s lessons for Hollywood won second and first prize, respectively, at the 2025 LA Press Club Awards.Prior to joining Business Insider, Geoff was the senior editor of Tubefilter and a staff writer at Entrepreneur. He graduated from New York University with a degree in English Literature.He can be reached at [email protected], on Signal @geoffweiss.25, and on LinkedIn. Have a tip? Use a personal email address and a nonwork device; here's our guide to sharing information securely.

Leadership Careers Big Tech More Exclusive

Nvidia (NVDA -0.59%) has already made an incredible amount of money selling the powerful chips that drive artificial intelligence (AI). But CEO Jensen Huang believes the company's biggest opportunities are still ahead, and Nvidia's newest technology could help him prove it.

The chipmaker's next-generation Vera Rubin architecture is designed to deliver substantially more computing power from the same amount of electricity. That's important for cloud companies that are racing to build AI data centers, where access to power has become a major constraint.

But there's another benefit for Nvidia shareholders. Vera Rubin could generate 60% more revenue per gigawatt of computing capacity than its predecessor.

And that helps explain why Huang is so confident about Nvidia's growth runway.

Nvidia CEO Jensen Huang. Image source: Getty Images.

Nvidia is getting more valuable with every generation
Nvidia's Hopper and Blackwell graphics processing units (GPUs) have been enormously successful with hyperscalers and smaller cloud providers building artificial intelligence computing capacity.

But Nvidia isn't simply selling faster GPUs anymore. Its Vera Rubin platform combines Rubin GPUs, Vera central processing units (CPUs), high-speed NVLink connections, networking equipment, and software into a complete AI computing system.

NVLink enables processors to communicate and share memory access more efficiently, helping customers complete more computing work without a corresponding increase in electricity consumption.

During Nvidia's fiscal second-quarter 2027 earnings call in August, Huang explained how that expanding platform translates into a bigger revenue opportunity. "In the case of Hopper, we were at about $18 billion per gigawatt. For Grace Blackwell, we're at about $25 billion per gigawatt. And for Vera Rubin, it's about $40 billion per gigawatt," he said. "And the productivity is X-factors increase in each generation."

That's a 60% increase over Blackwell, even if customers don't build any additional power capacity.

And the technology is already moving into the market. Nvidia says Vera Rubin has entered production shipments, with purchase orders from major hyperscalers, AI cloud providers, and equipment manufacturers.

$210.96-$1.25 (-0.59%)

NASDAQ · As of 4:00 PM ET 10/23/26

Why Jensen Huang sees more growth ahead
Huang predicted last year that AI infrastructure spending could reach $3 trillion to $4 trillion by 2030, and he reiterated that forecast in September. He's also expecting Nvidia to sell twice as many chips in 2027 as in 2026, according to comments he made to reporters in Scotland on Sept. 17.

That doesn't necessarily mean Nvidia's revenue will double. Chip volumes and revenue are different measurements, and the $40 billion-per-gigawatt figure represents a potential sales opportunity rather than guaranteed orders.

But the underlying business is already growing at an extraordinary pace. Nvidia reported $96.2 billion in revenue for its fiscal second quarter, which ended July 26, up 106% from a year earlier. Data center revenue alone reached $89 billion.

Vera Rubin gives Nvidia another way to increase revenue beyond simply selling more GPUs. If customers continue to expand their AI capacity while spending more per gigawatt on Nvidia technology, the company's growth runway could be considerably longer than its already massive size suggests.

Space Exploration Technologies (SPCX +1.89%) just reported fabulous earnings, with a 161% increase in revenue and a $4.4 billion net income, its first quarterly profit.

Elon Musk shared exciting news about where the company's headed, including perfecting reusable spaceships and increasing satellite bandwidth by 100x. But he also gave fabulous news for Nvidia (NVDA -0.59%) investors.

Running on Rubins The standout in the report was the artificial intelligence (AI) business, now called SI, or Super Intelligence. Sales rose an astonishing 835% year over year, driven by compute deals, the acquisition of coding company Cursor, and enterprise adoption of the Grok AI model. It also became profitable, with $431 million in operating income.

Image source: Nvidia.

Musk boasted that he took the same team that made SpaceX's rocket business so dominant and tasked them with deploying AI compute infrastructure, likening it to "the New York Yankees playing in Little League" and calling it "not fair" to the competition.

The company rents out compute power from its massive Colossus I data center cluster, and it has agreements with Alphabet and Anthropic for $920 million and $1.2 billion in monthly revenue, respectively. It's now in the process of building Colossus II, and Musk said that it will predominantly feature Nvidia's Vera Rubin chip infrastructure.

He also said that SI plans "to have the most powerful training cluster online" by the second quarter, and to that end, it will need "440,000 Vera Rubin computers deployed for optimal training." Grok is growing quickly, with accelerating usage, and SpaceX is scaling it for enterprises. Musk sees them using Grok Bot, its AI agent, in roles as if it were a human agent. "I've never seen anything grow this fast," he said, and he anticipates Grok Bot being the main user of the extra compute.

The race to $1 trillion Musk thinks that SpaceX could have $500 billion to $1 trillion in Annual Recurring Revenue (ARR) by the end of 2027. If so, that would make it one of the biggest companies in the world by sales.

NVDA Nvidia$210.96-$1.25 (-0.59%)

NASDAQ · As of 4:00 PM ET 10/23/26

Nvidia CEO Jensen Huang gave a forecast of $1 trillion in sales through 2027 from the Blackwell and Rubin lines alone, and CFO Collette Kress said the company expects sales to increase 70% next year, although that's in a supply-constrained climate. Wall Street expects Nvidia sales to reach $692 billion next year, and that's with a 68% increase.

I would also note that Musk specifically said he's going to use Vera Rubin computers, not just Rubin chips. That's a full-stack computer system that brings in more revenue than chips alone.

That's great news for Nvidia and its shareholders, and it implies that there's still major upside for Nvidia stock over the next few years.

Nvidia's emergence as financier for the global AI buildout is facing its first major stress test as credit markets tighten for key partners.

After creating the chips that powered the early stages of the generative artificial intelligence era, Nvidia turned to using its financial prowess to fund AI model developers, data center companies and a host of so-called neoclouds. CEO Jensen Huang's strategy has been to not only build the most advanced technology but to provide customers with investment as well as help them take out loans so his systems can reach many more hands.

That's meant taking full advantage of Nvidia's investment grade credit rating and providing backstop guarantees on mega-projects for OpenAI so that buildouts can get funded at lower interest rates.

As of its last quarterly financial filing in July, Nvidia had $36 billion in off-balance-sheet AI cloud agreements, or backstops, for neoclouds, in addition to its guarantee on up to $105 billion for chips, land and power at a proposed 10 gigawatt OpenAI data center in Ohio. The company signed as a tenant for $20 billion in future data center leases, which will later be assigned to third parties.

For the vast majority of these deals, Nvidia won't have to pay up unless participants in the project default.

"If the demand for compute doesn't meet these really super lofty expectations, we're going to have a problem," said David Trainer, founder and CEO of financial research firm New Constructs, in an interview.

Nvidia declined to comment for this story.

watch now

Market conditions may soon test Nvidia's mettle. Shares of neoclouds CoreWeave, Nebius and IREN, all cash-burning companies in Nvidia's portfolio, are down at least 30% this month. CoreWeave, the biggest of the group, has seen the spread on its credit default swaps soar past 11%, as investors are forced to pay up for insurance against default.

Nvidia has backed other neoclouds that have run into challenges.

The company is an investor in Australian AI cloud provider Firmus, which abruptly withdrew its IPO plans this month, as well as Nscale out of the U.K. and SoftBank-backed SB Energy. Both of those companies filed to go public in the U.S. in September but haven't provided updates on their plans in weeks.

Nvidia wrapped up a third straight down week on Wall Street on Friday, with its stock now off 7.6% in October, on pace for its worst month since November of last year.

Huang reiterated his confidence in the market this week, telling CNBC on Thursday that demand for neoclouds is "off the charts."

"What is missing in the middle is the working capital to fuel that growth," Huang told CNBC's Arjun Kharpal on the sidelines of the company's GTC conference in Berlin. "Because there's just so much demand across so many sectors of AI, there's a scarcity of capital."

Nvidia has taken equity stakes in dozens of companies, including big investments in OpenAI and Anthropic. Its portfolio is worth $99 billion as of the second quarter.

Building the ecosystemInvestors told CNBC that a big question surrounding Nvidia is how the company can use its cash and $5 trillion market cap to get more chips into customers' hands, and how much risk it will assume in the process.

Nvidia graphics processing units are critical for training and deploying AI models. Revenue in the latest fiscal year hit $216 billion, up roughly eightfold since OpenAI launched ChatGPT in late 2022.

Before the AI boom, Nvidia sold graphics cards that could fit into a standard server rack or PC. Its newest systems are much larger and more expensive. Nvidia's flagship Vera Rubin product is a seven-foot rack containing 72 GPUs and weighing as much as a pickup truck. It costs more than $7 million, according to a Morgan Stanley estimate.

While Nvidia still dominates the AI chip market, competition is emerging from the likes of Google, which rents out tensor processing units (TPUs) inside its massive cloud offering, and Advanced Micro Devices, which launched its first AI rack called Helios in July.

watch now

Cash is Nvidia's other great advantage. The company generated $70 billion in free cash flow in the first half of this year, while AMD totaled just over $4 billion and Google parent Alphabet went cash flow negative in the second quarter to fund its buildout.

That's a big edge for Nvidia in building out its ecosystem. The company is now offering a full-service platform complete with software, services, integrated hardware and, for many customers, financing assistance.

Nvidia's most recent quarterly financial filing in August outlined over $500 billion in off-balance-sheet commitments over the coming years, with a majority maturing through fiscal 2029. That same month, Huang announced a partnership with six large asset managers on a $500 billion financing push designed to treat compute infrastructure as an asset class.

That agreement, which promised financial firms up to $125 billion in residual value guarantees on GPU financings, was in addition to the stakes Nvidia has taken as a limited partner in private equity funds. The company seeded $2 billion in Brookfield's inaugural AI Infrastructure Partners Fund, which aims to raise $10 billion in total capital, as well as other unconfirmed sums in KKR's Helix Digital Infrastructure (an $11 billion vehicle) and Valor Equity Partners' $5.4 billion dedicated compute fund.

"We used to build chips that we sell, and these are technology components that people buy and use," Huang told CNBC, in announcing the agreement in August. "But now, Nvidia's AI factory platform is really an investable asset."

Huang has adopted a marketing mantra to reinforce the unique value of its equipment.

"We're the most rentable. We're fungible, and we're durable," he said on a podcast with investor Brad Gerstner published last week.

20 years of hardware in OhioWhile Nvidia waits for Wall Street firms to pull in investors to expand the GPU loan pool, the chipmaker is already actively fostering record-sized deals in the AI infrastructure space.

Nvidia's biggest single guarantee is for OpenAI's forthcoming facility in Pike County, Ohio, which could be the largest data center in the world. That deal requires use of Nvidia hardware for at least 20 years.

The shift from chips to capital carries significant risks should OpenAI run into trouble.

If OpenAI misses payments or faces insolvency, Nvidia can take over the lease, find a new tenant, or ask the landlord, SB Energy, to sell the facility, guaranteeing to pay the difference for the latter two arrangements up to $105 billion if the release or sale falls below a minimum price. Nvidia could also pay SB Energy a lump sum. On the other side, if OpenAI posts its own collateral, or achieves a high enough credit rating, Nvidia's guarantee ends.

At CoreWeave, Nvidia's investment includes equity and a commitment to buy up to $6.3 billion of its compute if it can't find another taker.

Nvidia's backstops can take many forms, such as guaranteeing a minimum resale price or a minimum hourly offtake price for the chips in the event the lender has to recoup the assets. With Sharon AI and other neoclouds, Nvidia's deals have come with revenue-sharing agreements.

"We believe these AI cloud partners have strong customer demand and robust sales pipelines but are constrained by the large-scale infrastructure that is required to meet that demand," Nvidia said in its quarterly filing.

CoreWeave and Nebius this month

Huang said this week that CoreWeave doesn't need Nvidia's backstop and that the neocloud's cost of capital is decreasing. CoreWeave has roughly $51.6 billion in total debt, including about $35 billion in notes, bonds and loans. Yields on its bonds maturing in 2031 and 2032 topped 15%.

Brian Stutland, portfolio manager at Equity Armor Investments, said the market jitters reflect concerns about the stability of the business.

CoreWeave and other neoclouds "will sign contracts into the future, and that all looks fine and dandy in their earnings reports, but is that contract going to be stable?" Stutland said. "Is it going to break at some point?"

Nvidia says its financial support can help customers build the infrastructure needed to meet strong demand for its chips. More computing capacity could also help AI labs develop new models and services, creating further demand for Nvidia products.

"They'll do $700 billion in revenue next year," Deepwater Asset Management founder Gene Munster told CNBC last month. "That affords them the ability to finance some of their customers."

Nvidia's credit backstops have mostly kicked in over the past six to 12 months. Its last annual filing, published in February, makes no mention of AI cloud agreements.

Warren Hosseinion, co-founder of AI infrastructure startup Compute Labs, said Nvidia doesn't want to be in the position of insurer, "but they're willing to play that role while the market and the industry catches up."

"They kind of control how things move," said Hosseinion, whose company tokenizes GPUs in order to open up pools of capital for neocloud operators. "They have to be very careful about how they release their technology at what pace, because a lot of that will dictate how the market moves around it."

Not a 'complete panacea'Nvidia is actively looking for insurers to bear some of the risk associated with the potential loss in value of GPUs.

"Insurers are not yet a complete panacea to this problem," said Tom Hoad, executive director of product innovation at global insurance group Howden. "But they are probably going to turn up and be helpful in the right situations, and therefore open up some commercial transactions."

According to research from New Constructs, Nvidia's net present value of off-balance-sheet liabilities in fiscal 2026 totals over $153 billion, an increase of over $100 billion from last year.

Such liabilities have been growing across the entire AI trade, mainly in the form of lease obligations. Ratings agencies like Moody's have been sounding the alarm. In 2026, guarantees are the fastest-growing type of off-balance-sheet financing arrangements, the agency said.

Moody's doesn't count guarantees as debt when rating corporate buyers, but it's "something we're constantly monitoring," said David Gonzales, a vice president at the agency.

"These things are advanced structures that are unique, and so there is no blanket real approach you can take," he said. Gonzales said it's likely that chips will retain "values in excess of contractual residual value amounts" in the near future, which would mitigate risk in many of Nvidia's financing structures.

Still, how much exposure investment grade AI players can handle is "the question we're evaluating at all times every day," Gonzales said.

"It's the center of all of our discussions right now," he said.

— CNBC's Seema Mody contributed to this report.  

Corient Private Wealth LP lessened its stake in NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 17.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,069,030 shares of the computer hardware maker’s stock after selling 1,907,428 shares during the quarter. NVIDIA makes up 2.5% of Corient Private Wealth LP’s holdings, making the stock its 5th biggest position. Corient Private Wealth LP’s holdings in NVIDIA were worth $1,795,911,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Formuepleje A S lifted its holdings in NVIDIA by 0.7% during the 2nd quarter. Formuepleje A S now owns 460,938 shares of the computer hardware maker’s stock valued at $92,229,000 after purchasing an additional 3,410 shares during the last quarter. Tucker Asset Management LLC increased its holdings in shares of NVIDIA by 2.8% in the second quarter. Tucker Asset Management LLC now owns 108,000 shares of the computer hardware maker’s stock valued at $21,610,000 after purchasing an additional 2,930 shares during the last quarter. HORAN Wealth LLC increased its holdings in shares of NVIDIA by 5.6% in the second quarter. HORAN Wealth LLC now owns 57,377 shares of the computer hardware maker’s stock valued at $11,480,000 after purchasing an additional 3,018 shares during the last quarter. Wellington Grp LLC increased its holdings in shares of NVIDIA by 8.7% in the second quarter. Wellington Grp LLC now owns 29,558 shares of the computer hardware maker’s stock valued at $5,914,000 after purchasing an additional 2,376 shares during the last quarter. Finally, Brown Financial Advisors raised its position in shares of NVIDIA by 21.3% in the second quarter. Brown Financial Advisors now owns 42,229 shares of the computer hardware maker’s stock valued at $8,450,000 after purchasing an additional 7,404 shares during the period. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In Several brokerages have recently weighed in on NVDA. Morgan Stanley set a $230.00 price objective on shares of NVIDIA in a research report on Friday, October 2nd. Zacks Research raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. Truist Financial boosted their price objective on NVIDIA from $307.00 to $346.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Mizuho set a $315.00 target price on NVIDIA and gave the company an “outperform” rating in a research report on Thursday, August 27th. Finally, KeyCorp reiterated an “overweight” rating and set a $330.00 target price on shares of NVIDIA in a research note on Monday, August 24th. Five investment analysts have rated the stock with a Strong Buy rating, forty-nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $321.47.

Check Out Our Latest Stock Analysis on NVIDIA Key Headlines Impacting NVIDIA Here are the key news stories impacting NVIDIA this week:

Positive Sentiment: AI infrastructure demand remains robust. CEO Jensen Huang said neocloud demand is “off the charts,” while Super Micro’s significantly higher revenue outlook and SpaceX’s plans to add substantial computing capacity provided evidence that customers continue expanding AI infrastructure. Nvidia CEO Jensen Huang says neocloud demand is off the charts but capital is scarce Positive Sentiment: GTC Berlin expanded NVIDIA’s addressable market. The company introduced DSX POD modular Vera Rubin AI factories, designed to reduce deployment timelines from roughly six months to as little as 14 days. Its DSX platform also targets up to 30% lower power consumption and near-zero cooling-water usage, potentially easing customers’ power and permitting constraints. NVIDIA introduces DSX POD AI factories Positive Sentiment: Platform expansion supports the long-term bull case. New partnerships involving AI-agent security, robotics, autonomous vehicles, telecom networks, quantum-computing interfaces and industrial AI reinforce NVIDIA’s strategy of selling a broader full-stack computing ecosystem rather than only GPUs. Neutral Sentiment: Quantum news is strategically relevant but not yet a material earnings driver. Quantum X Labs reported improved error-correction results using NVIDIA CUDA-Q, illustrating ecosystem adoption, although the announcement does not provide meaningful near-term revenue information for NVIDIA. Negative Sentiment: Investors are questioning AI-spending sustainability and financing. Concerns that hyperscalers, neoclouds and other customers may struggle to fund massive data-center buildouts are weighing on the entire AI trade. Rising-rate risk adds pressure to high-growth technology valuations. Negative Sentiment: Semiconductor-sector pressure compounded the decline. Chip stocks weakened after Lam Research cited supply-chain constraints, while broader technology indexes also fell. NVIDIA’s high valuation and upcoming earnings raise the risk of a “sell-the-news” reaction even if results exceed expectations. Insider Activity In related news, CFO Colette Kress sold 34,918 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $219.05, for a total value of $7,648,787.90. Following the completion of the sale, the chief financial officer directly owned 765,103 shares in the company, valued at approximately $167,595,812.15. The trade was a 4.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Timothy Teter sold 30,460 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $222.80, for a total value of $6,786,488.00. Following the completion of the sale, the executive vice president owned 2,687,660 shares of the company’s stock, valued at approximately $598,810,648. This trade represents a 1.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,766,118 shares of company stock worth $399,450,353. Corporate insiders own 3.94% of the company’s stock.

NVIDIA Price Performance NASDAQ:NVDA opened at $212.21 on Friday. NVIDIA Corporation has a 52 week low of $164.27 and a 52 week high of $243.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.59. The firm’s 50-day simple moving average is $222.86 and its 200 day simple moving average is $212.57. The firm has a market cap of $5.11 trillion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.71 and a beta of 2.22.

NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.13. The firm had revenue of $96.22 billion during the quarter, compared to the consensus estimate of $92.27 billion. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The business’s revenue for the quarter was up 105.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 EPS. As a group, sell-side analysts predict that NVIDIA Corporation will post 9.30 earnings per share for the current year.

NVIDIA Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. NVIDIA’s dividend payout ratio (DPR) is currently 12.64%.

NVIDIA declared that its board has approved a share buyback plan on Monday, September 28th that authorizes the company to repurchase $150.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 2.8% of its shares through open market purchases. Share repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Company Profile (Free Report)

NVIDIA Corporation (NASDAQ: NVDA) is a technology company that designs graphics processing units (GPUs), accelerated computing platforms, networking products and related software. Its technologies support artificial intelligence, machine learning, scientific computing, data analytics, professional visualization and computer graphics.

The company’s products include GeForce GPUs for gaming and personal computing, data center GPUs and systems for AI and high-performance computing, and networking solutions used to connect and manage large-scale computing infrastructure.

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Empirical Finance LLC increased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 844,676 shares of the computer hardware maker’s stock after acquiring an additional 28,693 shares during the period. NVIDIA makes up 7.0% of Empirical Finance LLC’s investment portfolio, making the stock its largest holding. Empirical Finance LLC’s holdings in NVIDIA were worth $169,011,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVDA. Longview Financial Advisors Inc. bought a new stake in shares of NVIDIA in the 1st quarter worth approximately $27,000. Montgomery Financial Services LLC purchased a new stake in shares of NVIDIA in the 2nd quarter worth approximately $28,000. Langley Wealth Management LLC bought a new position in NVIDIA during the 2nd quarter valued at approximately $34,000. Phillip James Consulting Co. bought a new position in NVIDIA during the 1st quarter valued at approximately $40,000. Finally, Bard Associates Inc. increased its position in NVIDIA by 8,866.7% during the 2nd quarter. Bard Associates Inc. now owns 269 shares of the computer hardware maker’s stock valued at $54,000 after buying an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In
A number of brokerages have issued reports on NVDA. JPMorgan Chase & Co. lifted their price objective on NVIDIA from $280.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Jefferies Financial Group reissued a “buy” rating on shares of NVIDIA in a research note on Wednesday, August 26th. Truist Financial raised their price target on NVIDIA from $307.00 to $346.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Evercore set a $465.00 price target on NVIDIA and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $330.00 price target on shares of NVIDIA in a research report on Monday, August 24th. Five investment analysts have rated the stock with a Strong Buy rating, forty-nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Buy” and an average price target of $321.47.

Check Out Our Latest Stock Analysis on NVIDIA
NVIDIA Price Performance
Shares of NASDAQ NVDA opened at $212.21 on Friday. The firm has a market cap of $5.11 trillion, a P/E ratio of 26.83, a PEG ratio of 1.71 and a beta of 2.22. NVIDIA Corporation has a twelve month low of $164.27 and a twelve month high of $243.37. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $222.86 and a 200 day moving average of $212.57.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, beating the consensus estimate of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The business had revenue of $96.22 billion for the quarter, compared to the consensus estimate of $92.27 billion. During the same period last year, the business posted $1.05 EPS. The company’s revenue was up 105.9% compared to the same quarter last year. As a group, research analysts expect that NVIDIA Corporation will post 9.30 EPS for the current fiscal year.

NVIDIA Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. NVIDIA’s payout ratio is currently 12.64%.

NVIDIA announced that its Board of Directors has approved a share repurchase program on Monday, September 28th that authorizes the company to repurchase $150.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 2.8% of its shares through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Key NVIDIA News
Here are the key news stories impacting NVIDIA this week:

Positive Sentiment: AI infrastructure demand remains robust. CEO Jensen Huang said neocloud demand is “off the charts,” while Super Micro’s significantly higher revenue outlook and SpaceX’s plans to add substantial computing capacity provided evidence that customers continue expanding AI infrastructure. Nvidia CEO Jensen Huang says neocloud demand is off the charts but capital is scarce
Positive Sentiment: GTC Berlin expanded NVIDIA’s addressable market. The company introduced DSX POD modular Vera Rubin AI factories, designed to reduce deployment timelines from roughly six months to as little as 14 days. Its DSX platform also targets up to 30% lower power consumption and near-zero cooling-water usage, potentially easing customers’ power and permitting constraints. NVIDIA introduces DSX POD AI factories
Positive Sentiment: Platform expansion supports the long-term bull case. New partnerships involving AI-agent security, robotics, autonomous vehicles, telecom networks, quantum-computing interfaces and industrial AI reinforce NVIDIA’s strategy of selling a broader full-stack computing ecosystem rather than only GPUs.
Neutral Sentiment: Quantum news is strategically relevant but not yet a material earnings driver. Quantum X Labs reported improved error-correction results using NVIDIA CUDA-Q, illustrating ecosystem adoption, although the announcement does not provide meaningful near-term revenue information for NVIDIA.
Negative Sentiment: Investors are questioning AI-spending sustainability and financing. Concerns that hyperscalers, neoclouds and other customers may struggle to fund massive data-center buildouts are weighing on the entire AI trade. Rising-rate risk adds pressure to high-growth technology valuations.
Negative Sentiment: Semiconductor-sector pressure compounded the decline. Chip stocks weakened after Lam Research cited supply-chain constraints, while broader technology indexes also fell. NVIDIA’s high valuation and upcoming earnings raise the risk of a “sell-the-news” reaction even if results exceed expectations.

Insider Activity
In related news, CFO Colette Kress sold 34,918 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the sale, the chief financial officer directly owned 765,103 shares of the company’s stock, valued at $167,595,812.15. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Stevens sold 622,239 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $231.62, for a total value of $144,122,997.18. Following the sale, the director directly owned 2,336,531 shares in the company, valued at $541,187,310.22. This trade represents a 21.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,766,118 shares of company stock valued at $399,450,353 over the last ninety days. 3.94% of the stock is currently owned by corporate insiders.

NVIDIA Company Profile
(Free Report)

NVIDIA Corporation (NASDAQ: NVDA) is a technology company that designs graphics processing units (GPUs), accelerated computing platforms, networking products and related software. Its technologies support artificial intelligence, machine learning, scientific computing, data analytics, professional visualization and computer graphics.

The company’s products include GeForce GPUs for gaming and personal computing, data center GPUs and systems for AI and high-performance computing, and networking solutions used to connect and manage large-scale computing infrastructure.

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HighTower Advisors LLC lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 4.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,407,961 shares of the computer hardware maker’s stock after selling 305,188 shares during the period. NVIDIA makes up 1.4% of HighTower Advisors LLC’s holdings, making the stock its 11th biggest position. HighTower Advisors LLC’s holdings in NVIDIA were worth $1,482,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kirkwood Financial Services acquired a new stake in NVIDIA during the second quarter worth about $864,000. Tobias Financial Advisors Inc. raised its position in NVIDIA by 50.0% during the second quarter. Tobias Financial Advisors Inc. now owns 29,786 shares of the computer hardware maker’s stock valued at $5,960,000 after acquiring an additional 9,924 shares in the last quarter. Groupe la Francaise raised its position in NVIDIA by 4.3% during the second quarter. Groupe la Francaise now owns 2,618,791 shares of the computer hardware maker’s stock valued at $520,898,000 after acquiring an additional 107,074 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in NVIDIA in the second quarter valued at approximately $1,036,586,000. Finally, Financial Insights Inc. lifted its holdings in NVIDIA by 1.3% in the second quarter. Financial Insights Inc. now owns 16,681 shares of the computer hardware maker’s stock valued at $3,338,000 after acquiring an additional 219 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA In related news, Director Mark Stevens sold 622,239 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $231.62, for a total value of $144,122,997.18. Following the completion of the sale, the director owned 2,336,531 shares of the company’s stock, valued at approximately $541,187,310.22. The trade was a 21.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy Teter sold 30,460 shares of the company’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $222.80, for a total transaction of $6,786,488.00. Following the transaction, the executive vice president owned 2,687,660 shares of the company’s stock, valued at $598,810,648. This represents a 1.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,766,118 shares of company stock valued at $399,450,353. 3.94% of the stock is owned by company insiders.

NVIDIA Stock Down 4.4% Shares of NVDA opened at $212.21 on Friday. The company has a current ratio of 4.59, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. NVIDIA Corporation has a 12 month low of $164.27 and a 12 month high of $243.37. The stock’s 50 day moving average is $222.86 and its two-hundred day moving average is $212.57. The firm has a market cap of $5.11 trillion, a P/E ratio of 26.83, a PEG ratio of 1.71 and a beta of 2.22. NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.13. The business had revenue of $96.22 billion during the quarter, compared to analysts’ expectations of $92.27 billion. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The business’s revenue was up 105.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 earnings per share. Analysts predict that NVIDIA Corporation will post 9.30 earnings per share for the current fiscal year.

NVIDIA declared that its board has authorized a stock repurchase program on Monday, September 28th that authorizes the company to repurchase $150.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. NVIDIA’s dividend payout ratio (DPR) is currently 12.64%.

Key NVIDIA News Here are the key news stories impacting NVIDIA this week:

Positive Sentiment: AI infrastructure demand remains robust. CEO Jensen Huang said neocloud demand is “off the charts,” while Super Micro’s significantly higher revenue outlook and SpaceX’s plans to add substantial computing capacity provided evidence that customers continue expanding AI infrastructure. Nvidia CEO Jensen Huang says neocloud demand is off the charts but capital is scarce Positive Sentiment: GTC Berlin expanded NVIDIA’s addressable market. The company introduced DSX POD modular Vera Rubin AI factories, designed to reduce deployment timelines from roughly six months to as little as 14 days. Its DSX platform also targets up to 30% lower power consumption and near-zero cooling-water usage, potentially easing customers’ power and permitting constraints. NVIDIA introduces DSX POD AI factories Positive Sentiment: Platform expansion supports the long-term bull case. New partnerships involving AI-agent security, robotics, autonomous vehicles, telecom networks, quantum-computing interfaces and industrial AI reinforce NVIDIA’s strategy of selling a broader full-stack computing ecosystem rather than only GPUs. Neutral Sentiment: Quantum news is strategically relevant but not yet a material earnings driver. Quantum X Labs reported improved error-correction results using NVIDIA CUDA-Q, illustrating ecosystem adoption, although the announcement does not provide meaningful near-term revenue information for NVIDIA. Negative Sentiment: Investors are questioning AI-spending sustainability and financing. Concerns that hyperscalers, neoclouds and other customers may struggle to fund massive data-center buildouts are weighing on the entire AI trade. Rising-rate risk adds pressure to high-growth technology valuations. Negative Sentiment: Semiconductor-sector pressure compounded the decline. Chip stocks weakened after Lam Research cited supply-chain constraints, while broader technology indexes also fell. NVIDIA’s high valuation and upcoming earnings raise the risk of a “sell-the-news” reaction even if results exceed expectations. Analyst Upgrades and Downgrades Several research firms have commented on NVDA. Sanford C. Bernstein restated a “buy” rating on shares of NVIDIA in a research report on Monday, September 21st. BMO Capital Markets set a $340.00 target price on shares of NVIDIA and gave the company an “outperform” rating in a report on Thursday, August 20th. China Renaissance boosted their target price on shares of NVIDIA from $319.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 31st. UBS Group reissued a “buy” rating on shares of NVIDIA in a report on Friday, October 9th. Finally, Zacks Research upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 21st. Five investment analysts have rated the stock with a Strong Buy rating, forty-nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $321.47.

Read Our Latest Stock Report on NVIDIA

About NVIDIA (Free Report)

NVIDIA Corporation (NASDAQ: NVDA) is a technology company that designs graphics processing units (GPUs), accelerated computing platforms, networking products and related software. Its technologies support artificial intelligence, machine learning, scientific computing, data analytics, professional visualization and computer graphics.

The company’s products include GeForce GPUs for gaming and personal computing, data center GPUs and systems for AI and high-performance computing, and networking solutions used to connect and manage large-scale computing infrastructure.

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Every time NVIDIA pulls back, the same question resurfaces: is the selloff a warning sign or a rare entry point into the most entrenched platform in AI computing? The answer depends on one software layer that almost nobody talks about.

I have bought NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) on dip after dip, and this latest slide put the stock back at the top of my research list. Shares fell 4.4% in the most recent session and 7.28% over the past month, closing at $212.21. That pullback stands out given NVIDIA’s position in AI computing.

Why I Keep Coming Back to NVIDIA
My thesis comes down to one point. AI models run on NVIDIA, and the CUDA software layer makes leaving expensive. On the August call, CEO Jensen Huang said “Our position in open models is very good because the CUDA ecosystem is literally everywhere.” Developers write for CUDA, clouds rent CUDA, and each new chip generation inherits that installed base. That lock-in strengthens with each chip generation.

Three Reasons My Conviction Keeps Growing
First, growth at scale. Revenue for the second quarter of fiscal 2027 reached $96.22B, up 105.8% year over year. Data Center revenue hit $89.02B, up 117%, and networking grew 138%. That tells me customers buy the whole AI factory, chips and connections together. Guidance calls for $108.0B ±2% next quarter.

Second, profitability. NVIDIA runs a 71.07% gross margin, a 60.38% operating margin, and a 101.49% return on equity. Fiscal 2026 free cash flow came in at $96.58B.

The balance sheet and capital return also look strong. Its debt-to-equity stands at 0.073, and interest coverage at 503.42x. NVIDIA returned about $26.0B in Q2 and holds $99.0B of remaining buyback authorization. The 0.019% yield pays me little, so I own this for compounding, and a P/E of 43 looks reasonable for that growth rate.

Why AMD and Broadcom Trail NVIDIA in My Analysis
Advanced Micro Devices (NASDAQ:AMD) grew Data Center revenue 107% last quarter. Still, it trades at a P/E of 191, with a gross margin near 49.5%, and its Q2 free cash flow fell 9.89%. AMD itself lists ROCm’s competition with established developer ecosystems as a risk.

Broadcom (NASDAQ:AVGO) posted AI semiconductor revenue of $16.70 billion, up 221%. Its own filings flag dependence on a limited number of AI customers and significant indebtedness. I prefer NVIDIA’s near-debt-free platform.

Risks I Track Every Quarter
Supply commitments rose to $279.0B from $119.0B one quarter earlier, mostly linked to Vera Rubin memory. Days sales outstanding extended to 60 days from 45, and guidance excludes China Data Center compute. If AI spending stalls, those commitments could hurt margins and cash flow.

Demand still exceeds supply. Huang said “Even though our demand is much greater than 70%, our supply allows us to confidently deliver 70%.” NVIDIA holds Vera Rubin purchase orders from every major hyperscaler, AI cloud and system OEM. Those orders make the commitments look like preparation to me.

What Keeps NVIDIA at the Top of My Watchlist
NVIDIA’s revenue opportunity per gigawatt rises to $40 billion with Vera Rubin from $25 billion with Blackwell. Top hyperscaler capex should reach nearly $800 billion in 2026 and $1.3 trillion in 2027. The stock has returned 837.87% over five years, and my long-term view remains the same. The expansion also needs power, cooling, and networking suppliers that rarely make the headlines, which we profiled in a free report on seven AI infrastructure stocks that aren’t chipmakers.

Contact [email protected] for any questions or corrections.

Kazakhstan may not be the first place that comes to mind when thinking about the global artificial intelligence boom, but several Big Tech companies have taken interest — including Nvidia.

Nvidia CEO Jensen Huang, who made his first visit to Kazakhstan on Friday, said the country could become a major AI computing hub serving Europe, pointing to its energy resources and plans to expand data center capacity.

Sitting in a fireside chat in Astana with Zhaslan Madiyev, Kazakhstan's deputy prime minister and minister of artificial intelligence and digital development, Huang highlighted the country's role.

It's going to be a hub, a computing hub, an AI factory hub for all of Europe.

Jensen Huang

CEO, Nvidia

He also emphasized the importance of countries developing their own AI capabilities, saying nations should have the infrastructure to deliver AI services domestically, while adapting the technology to their own languages and cultures.

The visit comes as Kazakhstan seeks to attract billions of dollars in technology investment and position itself as a regional hub for artificial intelligence.

Kazakhstan's multibillion-dollar AI ambitionsKazakhstan has made AI a national priority, declaring 2026 the Year of Digitalization and Artificial Intelligence as part of a broader effort to develop its digital economy.

In June, Kazakhstan's government announced plans for a $10 billion AI infrastructure investment in partnership with U.S.-based AI cloud company Firebird, aimed at building a computing cluster powered by 100,000 advanced GPUs, including Nvidia chips.

Nvidia intends to invest in the company, which is pursuing an approximately 2-gigawatt AI infrastructure expansion across Armenia, Kazakhstan and other market, as stated in the chipmaker's announcement.

Meanwhile, San Francisco-based AI video startup Higgsfield also has a significant presence in Kazakhstan, with more than 300 people working across its engineering and creative teams there.

The company's co-founder, Kazakhstani AI engineer Yerzat Dulat, told CNBC exclusively that "building a team in Kazakhstan was an unexpected bet for many. Today, we're backed by some of the most influential names in technology and media."

Jensen Huang's first visit to Astana is the perfect moment to share this news, as Kazakhstan becomes Central Asia's AI hub.

Yerzat Dulat

Co-Founder, Higgsfield

Higgsfield said Friday that Nvidia and investment firm TCV had invested in an extension of its Series B funding round, yet it did not disclose the amount. Earlier, the AI video startup company had also raised $400 million in a Series B funding round at a $5.4 billion valuation in August.

"The first thing and the last thing is you invest in people, not companies. And the founders of Higgsfield are visionary in the work that they do" Huang said in a fireside chat.

At the center of the initiative is Data Center Valley, a planned AI infrastructure hub in Ekibastuz with 300 megawatts of power capacity is already available with plans to expand to 1 gigawatt.

Kazakhstan is promoting its competitive electricity costs, large land reserves and investment incentives as advantages for international data center developers, as demand for computing capacity continues to grow — and some of that investment push is already taking shape.

Kazakh President Kassym-Jomart Tokayev said earlier this month that two supercomputing clusters powered by Nvidia technologies had already been launched in the country. 

Other international companies have also announced plans to invest in Kazakhstan's digital infrastructure.

According to the country's digital development ministry, Singapore-based GK Hyperscale has also signed an agreement with Kazakhstan's government to develop two hyperscale data centers, with an expected investment of $1.5 billion and a combined IT capacity of 200 megawatts.

The project also includes a planned $1.2 billion investment in power infrastructure, with construction initially scheduled to begin in early 2026 and the first data center module expected to become operational in 2027.

China's growing connection to Central AsiaThe growing corporate interest in Kazakhstan also extends beyond the AI industry.

German's Volkswagen has revamped its push into Central Asia this year, announcing in late June that for the first time its China business and factories was leading vehicle exports to another country, in this case Uzbekistan.

A few weeks later, the automaker announced entry into Kazakhstan.

The expansion illustrates how international companies are looking beyond China for new customers while using their existing Chinese manufacturing operations to serve neighboring markets.

In a "Tianjin Declaration" at the close of the SCO Summit in 2025, members of the security organization noted the potential of platforms such as an AI innovation center in Kazakhstan.

This year's SCO event on artificial intelligence took place earlier this month in Kazakhstan's capital, Astana, bringing together representatives from member states to discuss national AI strategies, regulation and opportunities for technological cooperation.

Nvidia (NVDA -4.61%) isn't the first stock that comes to mind when discussing quantum computing. That's probably because it isn't building a quantum computer or quantum computing chip, nor does it plan to. Given that, you might wonder why it could even be considered a quantum computing investment.

The answer to that is that there's more to quantum computing than the actual computing units, and Nvidia is leaning heavily into the support side, which makes it a pretty good offshoot investment. Combine that with the massive AI build-out tailwind ongoing right now, and you have a recipe for a stock that could have several years' worth of strong growth ahead.

Image source: Getty Images.

Nvidia predicts a hybrid quantum computing environment
Quantum computers perform computations in ways that are fundamentally different from traditional machines. While they have the potential to be incredibly useful in some unusual situations where the math gets so complex that it would take a standard supercomputer years to deliver an answer, quantum computers will never be appropriate tools for most of the tasks we use computers for today. Furthermore, Nvidia and others are betting that quantum computers won't be able to function in isolation; they'll need close support from traditional accelerated computing hardware, such as its GPUs.

To ensure that server clusters built around its processor architectures are used in the hybrid computing approach, Nvidia has launched several supporting products. First, it developed the NVQLink, a high-speed connector that allows quantum computers to interface with classical servers powered by Nvidia's GPUs.

It has also adapted its industry-leading CUDA software platform to include quantum computing functions, which differ significantly from traditional computing functions. This version of the software is appropriately named CUDA-Q, and it's another reason why quantum computing firms may choose Nvidia's hardware to support their quantum computers. Nvidia also developed an AI model called Ising that helps with quantum computing error correction.

NVDA Nvidia$211.74-$10.24 (-4.61%)

NASDAQ · As of 3:55 PM ET 10/22/26

All these new technologies ensure that Nvidia's platform will be used alongside quantum computing hardware when that technology eventually reaches commercial viability. If quantum computing takes longer than expected to get to that point (or even if it never reaches mainstream status), Nvidia's position at the top of the accelerated computing field will remain, and it will continue to make money from the massive AI build-out.

Nvidia expects huge growth on the AI front through 2030, projecting that global annual data center capital expenditures will reach $3 trillion to $4 trillion that year. For reference, Nvidia believes the big five AI hyperscalers will spend nearly $800 billion on data centers in 2026 and $1.3 trillion in 2027.

So, whether it's traditional computing for AI or looking to the future of quantum computing, Nvidia has clearly positioned itself as a major partner for whichever new technologies need significant computing power. As a result, I think it's a top investment pick, even in a quantum computing-focused basket.

Earnings season has kicked off, but the world's most valuable company by market cap doesn't report until next month. Nvidia (NVDA -4.04%) operates on a different fiscal calendar, with its fiscal third quarter ending next week. It doesn't mean investors shouldn't start preparing now for the initial market reaction.

When the global leader in AI infrastructure solutions offers up fresh financials in mid-November, the numbers will be big. The stock's response -- at least, based on recent market reactions to Nvidia results -- might surprise you.

Image source: Getty Images.

Berate expectations Analysts are holding out for another quarter of robust growth for Nvidia. They see revenue surging 91% to hit a record $109 billion. This is in line with the $108 billion that Nvidia itself offered up as guidance two months ago. The same Wall Street pros also see earnings rising roughly 90%, to $2.47 per share.

You would think a 90% increase on both ends of the income statement is a pretty high bar, but Nvidia is often toying with the market. It has consistently landed 3% to 6% above analyst profit targets over the past year. With its recent string of beat-and-raise performances, you would expect confetti launchers to go off whenever the wearer of the market cap crown steps up with new financial results. The last five quarters could shock you.

Chipping away at the market leader There is a lot to unpack here. Let's start by noting that the stock initially moved lower following four of the last five earnings reports. The good news is that the stock had ultimately risen by the time Nvidia reported again three months later.

Another piece of comforting news is that the outlier here -- Nvidia shares rising after its fiscal second quarter this past summer -- was the one time that the stock was lower than it was after the previous report. The conclusion, given the limited sample size of five financial updates, is that Nvidia more than makes up for the initial post-earnings decline. The one time that didn't happen, the initial post-earnings reaction was positive.

NVDA Nvidia$213.00-$8.97 (-4.04%)

NASDAQ · As of 1:24 PM ET 10/22/26

A November to remember This brings us to next month's critical update. Nvidia stock is currently near its level from its last report on Aug. 26. It's not trading materially higher, suggesting the stock may sell even on an upbeat report. It's also not trading substantially lower, as it did when it bucked the trend to rise last time out.

One comforting thought for the bulls is that the stock has undershot the improvement in Nvidia's fundamentals over the past year. Revenue growth has accelerated over the past several quarters, and net income growth has been explosive. The stock's 20% ascent over the past year is just a sliver of the growth it has delivered.

Nvidia shares are currently trading for less than 14 times next year's adjusted earnings target. It's a great price for a great company. The ceiling remains high. Naturally, the floor can also be substantially lower if revenue growth slows and margins contract, but that's not likely to be the case in next month's report. If a dip comes -- as it has four of the last five times -- there are still good reasons to remain optimistic.

Henrickson Nauta Wealth Advisors Inc. boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 40.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,357 shares of the computer hardware maker’s stock after buying an additional 3,583 shares during the quarter. NVIDIA accounts for about 0.6% of Henrickson Nauta Wealth Advisors Inc.’s holdings, making the stock its 18th biggest holding. Henrickson Nauta Wealth Advisors Inc.’s holdings in NVIDIA were worth $2,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in NVDA. Bank of America Corp DE increased its holdings in NVIDIA by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker’s stock valued at $39,090,956,000 after purchasing an additional 4,165,875 shares during the last quarter. Amundi raised its position in NVIDIA by 10.4% in the first quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock valued at $23,329,141,000 after purchasing an additional 12,575,177 shares during the period. Dimensional Fund Advisors LP raised its position in NVIDIA by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 94,521,253 shares of the computer hardware maker’s stock valued at $16,479,126,000 after purchasing an additional 555,221 shares during the period. Deutsche Bank AG lifted its stake in NVIDIA by 2.3% during the second quarter. Deutsche Bank AG now owns 91,954,159 shares of the computer hardware maker’s stock worth $18,399,108,000 after purchasing an additional 2,045,101 shares in the last quarter. Finally, Jupiter Topco LLC acquired a new position in NVIDIA during the second quarter worth $16,156,076,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity In related news, CFO Colette Kress sold 34,918 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the sale, the chief financial officer directly owned 765,103 shares in the company, valued at approximately $167,595,812.15. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Timothy S. Teter sold 30,460 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $222.80, for a total transaction of $6,786,488.00. Following the completion of the sale, the executive vice president directly owned 2,687,660 shares in the company, valued at approximately $598,810,648. This trade represents a 1.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,766,118 shares of company stock worth $399,450,353. 3.94% of the stock is currently owned by company insiders.

More NVIDIA News Here are the key news stories impacting NVIDIA this week: Positive Sentiment: SpaceX demand supported the broader AI trade. Elon Musk said SpaceX is adding approximately 200,000 chips per month, strengthening investor confidence that spending on NVIDIA’s systems remains robust. Nvidia Stock Rises as SpaceX Adds Chips Positive Sentiment: New DSX platforms could accelerate revenue deployment. NVIDIA introduced the factory-built DSX POD, which packages Vera Rubin computing, networking, cabling, power and liquid cooling in modular units. The design could reduce deployment time from roughly six months to as little as 14 days, allowing data-center operators to bring AI capacity online and generate revenue sooner. Nvidia Announces Vera Rubin Racks Positive Sentiment: NVIDIA is expanding beyond GPUs into complete AI factories. Its DSX ecosystem targets power, cooling and infrastructure constraints, with claims of up to 30% lower power use and near-zero cooling-water consumption in some designs. Partners including Dell, HPE, Schneider Electric, Vertiv and major cloud providers are supporting the platform. European Ecosystem Builds AI Factories With NVIDIA DSX Positive Sentiment: Multiple partnerships broaden NVIDIA’s long-term opportunity. GTC announcements covered robotics, autonomous vehicles, telecom AI-RAN, enterprise AI-agent security, healthcare and quantum computing. Separately, Agile Robots plans to produce up to 2,000 humanoid robots using NVIDIA technology, highlighting potential growth beyond data centers. Germany’s Agile Robots Partnership Neutral Sentiment: Investors remain focused on execution and competition. Analysts see continued AI spending, but Google and Amazon are developing alternatives to NVIDIA’s software and accelerators. NVIDIA’s high valuation, reliance on partners and reports of sustained insider selling could also limit upside if growth expectations or deployment timelines disappoint. NVIDIA Stock Performance Shares of NVDA stock opened at $221.88 on Thursday. The firm has a 50 day moving average of $223.13 and a two-hundred day moving average of $212.32. The stock has a market capitalization of $5.35 trillion, a PE ratio of 28.05, a P/E/G ratio of 1.66 and a beta of 2.22. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14. NVIDIA Corporation has a 52 week low of $164.27 and a 52 week high of $243.37.

NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.13. The business had revenue of $96.22 billion for the quarter, compared to analyst estimates of $92.27 billion. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The company’s revenue was up 105.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, research analysts predict that NVIDIA Corporation will post 9.30 EPS for the current fiscal year.

NVIDIA declared that its board has approved a stock repurchase program on Monday, September 28th that permits the company to repurchase $150.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. NVIDIA’s dividend payout ratio (DPR) is currently 12.64%.

Analyst Upgrades and Downgrades NVDA has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on NVIDIA from $280.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $390.00 price objective on shares of NVIDIA in a report on Tuesday, September 29th. Raymond James Financial set a $515.00 target price on NVIDIA and gave the stock a “strong-buy” rating in a research note on Thursday, August 27th. Evercore set a $465.00 target price on NVIDIA and gave the company an “outperform” rating in a report on Thursday, August 27th. Finally, UBS Group restated a “buy” rating on shares of NVIDIA in a report on Friday, October 9th. Five analysts have rated the stock with a Strong Buy rating, forty-nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of “Buy” and an average target price of $321.47.

Check Out Our Latest Research Report on NVIDIA

About NVIDIA (Free Report)

NVIDIA Corporation (NASDAQ: NVDA) is a technology company that designs graphics processing units (GPUs), accelerated computing platforms, networking products and related software. Its technologies support artificial intelligence, machine learning, scientific computing, data analytics, professional visualization and computer graphics.

The company’s products include GeForce GPUs for gaming and personal computing, data center GPUs and systems for AI and high-performance computing, and networking solutions used to connect and manage large-scale computing infrastructure.

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SALEM, Ore., Oct. 22, 2026 (GLOBE NEWSWIRE) -- Agility Robotics, a leading humanoid robotics and physical AI company, today announced that Digit® 5 will standardize on NVIDIA IGX Thor for its onboard compute, expanding the companies’ collaboration as Agility prepares its next-generation humanoid robot for broader commercial deployment.

The new architecture will unify Digit 5’s onboard compute by standardizing on NVIDIA IGX Thor modules. The transition establishes NVIDIA as the exclusive provider of onboard compute for the general availability version of Digit 5.

“Bringing humanoid robots to commercial scale requires AI computing and safety to be engineered together,” said Deepu Talla, Vice President of Robotics and Edge AI at NVIDIA. “By standardizing Digit 5’s onboard compute on NVIDIA IGX Thor and incorporating NVIDIA Halos into its safety system, Agility is bringing these capabilities together as it prepares for broader deployment in factories and warehouses.”

Advancing Compute and Safety for Industrial Deployment

The compute transition builds on Agility’s previously announced collaboration with NVIDIA Halos safety platform for physical AI deployments, addressing safety at each layer of Agility’s development stack.

As part of that collaboration, Agility is integrating NVIDIA IGX Thor and additional NVIDIA Halos models into its proprietary safe human detection system for Digit. These integrations are intended to expand Digit’s current perception capabilities, support connections to a broader ecosystem, and facilitate Agility’s ongoing certification and deployment efforts. Agility was the first company to announce with NVIDIA that it will incorporate elements of NVIDIA Halos into its proprietary safety system.

Agility will also participate in the NVIDIA Halos AI Systems Inspection Lab to support the evaluation of Digit’s safety-related software, AI components and cybersecurity protections ahead of final third-party certification.

“For humanoid robots to deliver lasting value, they need to perform useful work reliably and safely in our customers’ operations,” said Pras Velagapudi, Chief Technology Officer of Agility Robotics. “As we prepare Digit 5 for general availability, we are unifying its compute architecture and building on our safety collaboration with NVIDIA. Moving to NVIDIA Thor modules gives us a common foundation as we advance Digit’s capabilities and prepare for broad commercial deployment.”

Early access to Digit 5 is expected to begin in the first half of 2027, with increasing availability over the following six to nine months for manufacturing, warehouse and distribution operators.

Agility Robotics and Churchill Capital Corp XI

Agility is preparing to become a public company through its previously announced business combination with Churchill Capital Corp XI (Nasdaq: CCXI). The business combination is expected to close in the fourth quarter of 2026, after which the combined company will operate as Agility Robotics and is expected to trade on Nasdaq under the ticker symbol “AGLT.”

About Agility Robotics

Headquartered in Salem, Oregon, with offices in Pittsburgh, Pennsylvania and Fremont, California, Agility Robotics' mission is to build robot partners that augment the human workforce. Agility's groundbreaking general-purpose humanoid robot, Digit, is the first multi-purpose, human-centric robot that is Made for Work® and commercially deployed today. With more than 65,000 hours of real-world operation combined with industry-leading safety standards, we're pioneering a new era of automation that enhances human potential. To learn more, visit agilityrobotics.com.

Agility, the Agility logo, Digit, Agility Arc, RoboFab, and Made for Work are trademarks of Agility Robotics, Inc. All rights reserved. Third-party trademarks are the property of their respective owners.

About Churchill Capital Corp XI

Churchill Capital Corp XI (“Churchill XI”) XI is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It may pursue an initial business combination target in any business or industry.

Additional Information About the Proposed Transaction and Where to Find It

The proposed transaction will be submitted to shareholders of Churchill XI for their consideration. Churchill XI and Agility Robotics have jointly filed a registration statement on Form S-4 (the “Registration Statement”) with the Securities and Exchange Commission (the "SEC”), which was declared effective by the SEC on October 13, 2026, and which includes a definitive proxy statement/prospectus. The definitive proxy statement/prospectus and other relevant documents have been distributed to Company stockholders and Churchill XI shareholders as of September 14, 2026, the record date established for voting on the proposed transaction, in connection with Churchill XI’s solicitation of proxies for the vote by Churchill XI’s shareholders in connection with the proposed transaction and other matters described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to Company stockholders in connection with the completion of the proposed transaction. Before making any voting or investment decision, Churchill XI and Agility stockholders and other interested persons are advised to read the definitive proxy statement/prospectus, as well as other documents filed with the SEC by Churchill XI in connection with the proposed transaction, as these documents contain important information about Churchill XI, the Company and the proposed transaction. Shareholders may obtain a copy of the definitive proxy statement/prospectus as well as other documents filed by Churchill XI with the SEC, without charge, at the SEC’s website located at www.sec.gov or by directing a written request to Churchill Capital Corp XI, 640 Fifth Avenue, 14th Floor, New York, NY 10019.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the federal securities laws regarding Agility and Churchill XI. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict," "should" and "would," or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of any of these words or similar expressions does not mean that a statement is not forward-looking. These forward-looking statements are based on Agility's and Churchill XI's current expectations and projections. These statements include statements relating to, without limitation: Agility's plans to standardize Digit 5's onboard compute architecture on NVIDIA IGX Thor modules, including the anticipated integration, functionality, performance and benefits of such technology; Agility's ongoing and expanded collaboration with NVIDIA, including the integration of NVIDIA IGX Thor and elements of the NVIDIA Halos safety platform into Digit's proprietary safety systems; the expected capabilities and benefits of these integrations, including enhancements to perception capabilities, safety, reliability and operational performance; Agility's anticipated participation in the NVIDIA Halos AI Systems Inspection Lab and the expected evaluation, validation and certification of Digit's safety-related software, AI components and cybersecurity protections; Agility's ability to develop, validate and deploy new Digit skills and capabilities; the anticipated timing of early access to Digit 5 in the first half of 2027 and general availability by the end of 2027; Agility's ability to scale manufacturing, commercial deployments and service infrastructure to support existing and future customers; Agility's preparation to operate as a public company; Agility's ability to consummate the proposed business combination with Churchill XI, the satisfaction or waiver of the closing conditions set forth in the proposed business combination or PIPE subscription agreements; the occurrence of any other event, change or other circumstances that could give rise to the termination of the proposed business combination or PIPE subscription agreements; the expected timing of closing of the proposed transaction; the expected listing of the combined company's securities on Nasdaq under the ticker symbol "AGLT"; and the potential benefits of the proposed transaction and expectations related to its terms and timing.

These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, many of which are beyond the control of the Company and Churchill XI.

These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause the Company’s, Churchill XI’s or the combined company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such statements. Such risks and uncertainties include: that the Company is pursuing an emerging technology, faces significant technical challenges and may not achieve commercialization or market acceptance; the Company’s historical net losses and limited operating history; the Company’s expectations regarding future financial performance, capital requirements and unit economics; the Company’s use and reporting of business and operational metrics; the Company’s competitive landscape; the Company’s dependence on members of its senior management and its ability to attract and retain qualified personnel; the potential need for additional future financing; the Company’s ability to manage growth and expand its operations; potential future acquisitions or investments in companies, products, services or technologies; the Company’s reliance on strategic partners and other third parties; the Company’s ability to maintain, protect and defend its intellectual property rights; risks associated with privacy, data protection or cybersecurity incidents and related regulations; the use, rate of adoption and regulation of artificial intelligence and machine learning; uncertainty or changes with respect to laws and regulations; uncertainty or changes with respect to taxes, trade conditions and the macroeconomic environment; the combined company’s ability to maintain internal control over financial reporting and operate a public company; the risk that the proposed transaction may not be completed in a timely manner or at all, which may adversely affect the price of Churchill XI’s securities; the failure by the parties to satisfy the conditions to consummation of the proposed transaction, including the approval of Churchill XI’s shareholders; the possibility that required regulatory approvals for the proposed transaction are delayed or are not obtained, which could adversely affect the combined company or the expected benefits of the proposed transaction; the risk that shareholders of Churchill XI could elect to have their shares redeemed, leaving the combined company with insufficient cash to execute its business plans; the level of redemptions of Churchill XI’s public shareholders; the ability of the Company to grow and manage growth, maintain relationships with customers and retain its management and key employees; costs related to the proposed transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; the outcome of any legal proceedings or government investigations that may be commenced against the Company or Churchill XI; failure to realize the anticipated benefits of the proposed transaction; the Company’s estimates of expenses and profitability; the evolution of the markets in which the Company competes; the ability of Churchill XI or the combined company to issue equity or equity-linked securities in connection with the proposed transaction or in the future; and other factors described in Churchill XI’s filings with the SEC. Additional information concerning these and other factors that may impact such forward-looking statements can be found in filings and potential filings by the Company, Churchill XI or the combined company resulting from the proposed transaction with the SEC, including under the heading “Risk Factors.” If any of these risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, these statements reflect the expectations, plans and forecasts of the Company’s and Churchill XI’s management as of the date of this press release; subsequent events and developments may cause their assessments to change. While the Company and Churchill XI may elect to update these forward-looking statements at some point in the future, they specifically disclaim any obligation to do so. Accordingly, undue reliance should not be placed upon these statements.

In addition, statements that “we believe” and similar statements reflect the Company’s and Churchill XI’s beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and the Company’s and Churchill XI’s statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.

An investment in Churchill XI is not an investment in any of Churchill XI’s founders’ or sponsors’ past investments, companies or affiliated funds. The historical results of those investments are not indicative of future performance of Churchill XI, which may differ materially from the performance of Churchill XI’s founders’ or sponsors’ past investments.

Participants in the Solicitation

Churchill XI, the Company and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies from Churchill XI’s shareholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Churchill XI’s shareholders in connection with the proposed transaction are set forth in the definitive proxy statement/prospectus . You can find more information about Churchill XI’s directors and executive officers in Churchill XI’s final prospectus related to its initial public offering filed with the SEC on December 16, 2025. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests are included in the proxy statement/prospectus . Shareholders, potential investors and other interested persons should read the definitive proxy statement/prospectus carefully before making any voting or investment decisions. You may obtain free copies of these documents from the sources described above.

No Offer or Solicitation

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering of the securities described herein in the United States or any other jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or exemptions therefrom. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Contacts

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2140e2a5-3711-407a-8fb7-8fd5ba6966bd

A brutal week of selling left NVIDIA at its cheapest valuation in months, but the fundamentals tell a completely different story than the price action suggests.

NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) closed at $216.47 on October 20, and our model says that price underestimates the business. The 24/7 Wall St. price target for NVIDIA is $258.42 over the next 12 months, implying 20.68% upside.

24/7 Wall St. Price Target Summary

Metric
Value

Current Price
$214.13

24/7 Wall St. Price Target
$258.42

Upside/Downside
20.68%

Recommendation
BUY

Confidence Level
90%

Our model carries high confidence because NVIDIA trades at just 16 times forward earnings while revenue grew 105.8% year over year last quarter.

Wall Street agrees, with 59 Buy ratings against 2 Holds and 1 Sell. A sharp week of selling on AI financing concerns pulled shares lower, and our model treats that pullback as noise relative to the earnings trend.

AI Funding Jitters Drove a Weekly Slide Despite a Record Quarter
NVIDIA fell 6.61% over the past week, leaving shares up only 0.11% over the past month and 15.08% year to date. The stock sits between a 52-week high of $243.37 and a low of $163.90. The selloff tracked a global tech rout on AI funding worries, though CEO Jensen Huang said CoreWeave is improving and needs no backstop.

Fundamentals look far stronger. Fiscal Q2 2027 revenue reached $96.22 billion versus a $92.07 billion estimate, and non-GAAP EPS of $2.22 exceeded the $2.09 estimate, marking a fifth consecutive beat. Data Center revenue rose 117% to $89.02 billion.

Why Bulls See $269 and Beyond
Management expects fiscal 2028 revenue to grow about 70%, and called that outlook supply-constrained. Huang said, “We have supply for 70%. We have more supply than 70%, but about 70%. Our demand is much higher than that.”

Vera Rubin carries about $40 billion of revenue opportunity per gigawatt versus about $25 billion for Grace Blackwell, while top-five hyperscaler capex is expected to reach $1.3 trillion in 2027. Our bull case reaches $269.13, and the $328.72 consensus target shows how far optimists see room to run.

The capex wave reaches far beyond the GPU vendors, into the power, cooling, and networking suppliers quietly selling into every new data center (we pulled together seven of them in a report here: 7 Stocks Powering the AI Boom (That Aren’t Chipmakers)).

Financing Exposure and Margin Pressure Worth Watching
Supply obligations grew to $279 billion, cloud-partner guarantees are capped at $108.5 billion, and days sales outstanding rose to 60 days from 45. Management acknowledged some may call its AI lab support “circular financing.”

Gross margin should bottom at 71% to 72% in Q4, and China data center computing is excluded from guidance. Our bear case lands at $225.15, still above today’s price.

The margin dip reflects rising memory costs, and management expects 72% to 73% in fiscal 2028 as price increases take effect.

NVIDIA Trades Cheaper Than AMD and Broadcom
Advanced Micro Devices (NASDAQ:AMD) is the most direct GPU rival, with a Meta deal for up to 6 gigawatts of Instinct GPUs. AMD trades at 40 times forward earnings on 50.11% revenue growth, a higher multiple for slower growth.

Broadcom (NASDAQ:AVGO) is the custom-silicon alternative for hyperscalers, with AI semiconductor revenue up 221% to $16.7 billion. At 19 times forward earnings, Broadcom is the closest valuation match.

Company
Forward P/E
Latest Quarterly Revenue Growth

NVIDIA
16x
105.8%

AMD
40x
50.11%

Broadcom
19x
85.5%

Applying Broadcom’s multiple to NVIDIA’s forward EPS implies about $255.89, close to our target. The peer group makes our 24/7 Wall St. price target look reasonable, even conservative.

Our Verdict: NVIDIA Earns a BUY Rating at $214
The 24/7 Wall St. price target of $258.42 carries a buy rating at 90% confidence. NVIDIA grows faster than its peers at a lower forward multiple.

Upside strengthens if Vera Rubin ramps on schedule and Q3 revenue lands near the $108 billion guide. The thesis weakens if AI lab financing stress turns into canceled orders. At this price, the model sees more upside than downside.

The chart below shows where our model projects NVIDIA could trade at each year-end, assuming current growth trend hold.

Year
24/7 Wall St. Price Target

2026
$219.16

2027
$275.33

2028
$309.60

2029
$325.96

2030
$368.42

These projections assume NVIDIA keeps executing on its current product cadence. China export policy, the strength of hyperscaler capex and custom silicon competition could move results sharply in either direction.

Contact [email protected] for any questions or corrections.

News Summary:

NVIDIA introduces DSX POD, a reference design for complete Vera Rubin AI factories built by partners in modular containers, integrated and validated before delivery.Factory-built units reduce deployment time at a prepared site from six months to as little as 14 days, helping customers begin generating production tokens and earning revenue sooner.A global ecosystem of computing and infrastructure partners are working with NVIDIA to deliver modular AI factories worldwide in early 2027. BERLIN, Oct. 21, 2026 (GLOBE NEWSWIRE) -- GTC Berlin -- NVIDIA today introduced DSX POD, a reference design for complete NVIDIA Vera Rubin AI factories built by partners inside modular containers, integrated and validated before delivery. The units arrive ready to connect out of the box to a prepared site’s power, cooling, networking and other supporting infrastructure, reducing deployment time from six months to as little as 14 days.

DSX POD moves the integration and installation of computing, networking, cabling, rack-level power and liquid cooling to the manufacturing facility, reducing the extensive planning, construction, specialized labor and logistics of a traditional onsite build. Factory-tested containers reduce exposure to component delays and costly, error-prone onsite work, creating a shorter path to model training and production inference so customers can begin generating tokens and earning revenue sooner.

“An AI factory creates value when it starts producing tokens — not when construction is complete,” said Jensen Huang, founder and CEO of NVIDIA. “With NVIDIA DSX POD, we’re bringing factory-built precision and speed to AI infrastructure construction — reducing deployment time from months to weeks so customers can scale capacity and bring revenue-generating production online faster.”

Factory-Built Infrastructure
NVIDIA DSX POD brings Vera Rubin systems together with the infrastructure needed to operate them in repeatable, factory-built, containerized designs that partners can manufacture and deliver at scale.

It carries forward the design philosophy of the broader NVIDIA DSX™ infrastructure platform, with a distinct architecture that integrates and validates systems in purpose-built containers before transport and deployment. Partners complete rack-to-rack cabling, wiring, piping and functional validation before shipment. This work takes place separately from site preparation, further shortening the time needed to bring new capacity online.

That earlier start to production is the link between deployment speed and economics. Time to first token marks when a new AI factory begins running models to serve production workloads, giving operators the opportunity to put their infrastructure to work for customers sooner.

Global Partner Ecosystem and Availability
NVIDIA is working with Anduril, Armada, Bull, Crusoe, DayOne, Dell Technologies, Delta, Eaton, Foxconn (Ingrasys), GIGABYTE, HPE, Lenovo, Pegatron, Quanta Cloud Technology (QCT), Schneider Electric, Vertiv and Wistron to deliver DSX POD AI factories worldwide in early 2027.

Watch the GTC Berlin keynote from Huang and explore sessions.

About NVIDIA
NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing.

For further information, contact:
Corporate Communications
NVIDIA Corporation
[email protected]

Certain statements in this press release including, but not limited to, statements as to: expectations with respect to growth, performance, availability, and benefits of NVIDIA’s products, services and technologies, including DSX POD’s ability to accelerate AI factory deployment and production inference and support customers’ AI capacity, profitability and revenue growth; expectations with respect to NVIDIA’s third party arrangements, including with its collaborators and partners; expectations with respect to technology developments, and related trends and drivers; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing product and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

© 2026 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, and other NVIDIA product and service names are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries and regions. Other company, product, and service names may be trademarks of the respective companies with which they are associated.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d8efda66-775f-4fec-838f-aa669d9f1c93

NVIDIA DSX POD NVIDIA introduces DSX POD, a reference design for complete Vera Rubin AI factories built by partners...

News Summary:

The NVIDIA OpenShell Reference Architecture delivers enterprise governance, isolation and security for building, containing, observing and enforcing safe agents across enterprise infrastructure and edge systems.Built on the foundation of NVIDIA OpenShell secure runtime software, the architecture brings together NVIDIA Vera Rubin infrastructure for model inference, NVIDIA Vera CPUs for agent harnesses and tool use, and NVIDIA BlueField-4 DPUs running NVIDIA Sentry for in-silicon enforcement. The OpenShell Reference Architecture extends to the edge with NVIDIA RTX Spark, NVIDIA DGX Spark and NVIDIA DGX Station systems.The OpenShell Reference Architecture runs on leading enterprise operating systems, including Canonical, Red Hat, and Microsoft Windows and Microsoft Execution Containers.Anthropic, AWS, Cisco, CrowdStrike, Dassault Systèmes, Dell Technologies, Google Cloud, HPE, IBM, Meta, Microsoft, OpenAI, Palo Alto Networks, Perplexity, SAP, ServiceNow, Siemens, SpaceX Super Intelligence and others are among those working with the OpenShell Reference Architecture to enhance the security of agent deployments. BERLIN, Oct. 21, 2026 (GLOBE NEWSWIRE) -- GTC Berlin -- NVIDIA today announced the NVIDIA OpenShell Reference Architecture, which enables building, containing, observing and enforcing safe agents on enterprise infrastructure and edge systems.

The OpenShell Reference Architecture builds on the foundation of NVIDIA OpenShell™ secure runtime software, extending it into full-stack, industrial-scale infrastructure for agent development and operations.

It includes NVIDIA Vera Rubin infrastructure for running enterprise workloads, including closed and open models built with NVIDIA Nemotron™; NVIDIA Vera CPUs for operating agent harnesses; open source NVIDIA OpenShell software; and NVIDIA BlueField® DPUs for running the NVIDIA Sentry unified security software framework that provides continuous out-of-band monitoring of agent behavior and in-silicon policy enforcement.

The OpenShell Reference Architecture is extensible to agents running at the edge across industries such as retail, healthcare, manufacturing, robotics, software development and telecommunications with NVIDIA RTX Spark™, NVIDIA DGX Spark™ and NVIDIA DGX Station™ systems.

“AI capability and safety must advance together,” said Jensen Huang, founder and CEO of NVIDIA. “As enterprises prepare to deploy billions of AI agents, safety and control must be built into the computing architecture. NVIDIA created OpenShell to give agents the freedom to do useful work within clearly defined boundaries — contained, monitored and under control. With the OpenShell Reference Architecture, agents can think on Rubin, act on Vera and be governed on BlueField.”

Full-Stack Infrastructure Built for Agents
The OpenShell Reference Architecture features NVIDIA accelerated computing paired with software for secure agent operations.

NVIDIA Vera Rubin, with NVIDIA Vera Rubin NVL72 infrastructure at its core, is fungible across pretraining, post-training and inference. For agentic workloads, NVIDIA Vera Rubin NVL72 systems deliver 30x higher throughput per megawatt.NVIDIA Vera CPUs deliver 2x the performance of x86 processors with greater energy efficiency and run NVIDIA OpenShell, which provides a secure runtime boundary for autonomous agents.NVIDIA BlueField-4 DPUs continuously monitor agent behavior with NVIDIA Sentry, built on NVIDIA DOCA™ software. BlueField and NVIDIA Sentry together provide in-silicon security enforcement — if an agent attempts to move outside its software boundary, NVIDIA Sentry quarantines and stops it in milliseconds. NVIDIA Sentry, powered by DOCA and running on BlueField-4, boosts agent capacity by up to 20%.
NVIDIA Partners Building Secure Agent Deployments With OpenShell
NVIDIA is working with industry leaders building infrastructure, models and software to enable industries to safely deploy agents in production.

The OpenShell Reference Architecture runs on leading enterprise operating systems and container orchestration layers, including Linux and Kubernetes infrastructure powered by Canonical, SUSE and Red Hat, as well as Microsoft Windows using Microsoft Execution Containers (MXC). It can run on cloud operating systems from Amazon Web Services, Google Cloud and Microsoft Azure.

Enterprises can run agents from model builders including Anthropic, Cohere, Google, Meta, OpenAI, Perplexity, Reflection and SpaceX Super Intelligence on OpenShell infrastructure. NVIDIA is also working with model builder partners on OpenShell deployments for advanced model research.

Cybersecurity leaders 1Password, Check Point, CrowdStrike, Cisco, F5, Fortinet, Microsoft, Okta, Palo Alto Networks, TrendAI and Zscaler are integrating support for the OpenShell Reference Architecture into their agent security solutions.

Leading banks — including Europe’s BBVA and Santander — are working with NVIDIA to explore the OpenShell Reference Architecture as a framework for strengthening agent safety, security and governance.

Enterprise software leaders Cadence, Dassault Systèmes, IBM, SAP, Siemens and Synopsys are working with OpenShell to build agent software platforms. Palantir and NVIDIA are working with customers to deploy secure agents in production.

SAP is integrating the NVIDIA OpenShell Reference Architecture with Joule Studio runtime, part of SAP Business AI Platform, connecting business governance with secure agent execution.

ServiceNow today announced the general availability of ServiceNow Arc, a personal long-running AI agent with actions governed at runtime by the ServiceNow Super Intelligence Control Tower and enforced by NVIDIA OpenShell. In addition, ServiceNow’s recently announced AI Passport authority layer carries those policies to NVIDIA OpenShell and NVIDIA Sentry, so enterprises can revoke an AI agent’s access across software and hardware within seconds.

NVIDIA system manufacturers Dell Technologies, Cisco, HPE, Lenovo and Supermicro are among those building infrastructure with the OpenShell Reference Architecture.

NVIDIA is also working with cloud service providers including CoreWeave, Crusoe, Firebird, Firmus, GMI Cloud, IREN, Lambda, Nebius, Nscale, Oracle Cloud Infrastructure and Vultr to deploy OpenShell-ready infrastructure.

Inference and post-training service providers including Baseten, Deepinfra, Fireworks and Together AI are building OpenShell Reference Architecture integrations into their model development pipelines.

Availability
The NVIDIA OpenShell Reference Architecture is now available.

About NVIDIA
NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing.

For further information, contact:
Corporate Communications
NVIDIA Corporation
[email protected]

Certain statements in this press release including, but not limited to, statements as to: expectations with respect to growth, performance, availability, and benefits of NVIDIA’s products, services and technologies, and related trends and drivers; expectations with respect to NVIDIA’s third party arrangements, including with its collaborators and partners, and related deployments, availability and timing; expectations with respect to technology developments, and related trends and drivers; expectations with respect to enterprise adoption and deployment of AI agents and related safety, governance and control; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing products and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; NVIDIA’s ability to realize the potential benefits of business investments or acquisitions; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of reports filed with the SEC are posted on NVIDIA’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

Many of the products and features described herein remain in various stages and will be offered on a when-and-if-available basis. The statements above are not intended to be, and should not be interpreted as a commitment, promise, or legal obligation, and the development, release, and timing of any features or functionalities described for our products is subject to change and remains at the sole discretion of NVIDIA. NVIDIA will have no liability for failure to deliver or delay in the delivery of any of the products, features or functions set forth herein.

© 2026 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, and other NVIDIA product and service names are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries and regions. Other company, product, and service names may be trademarks of the respective companies with which they are associated.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/077e35f0-622d-4f90-8402-6f2bce21a913

NVIDIA OpenShell Reference Architecture NVIDIA today announced the NVIDIA OpenShell Reference Architecture, which enables building, containi...

 News Summary:

NVIDIA and the UW Medicine Institute for Protein Design debut RFD4-Proteina, a new open model that combines programmable protein design with search capabilities, unlocking new frontiers in biology.Siemens Healthineers is advancing the next generation of adaptive radiotherapy, using NVIDIA intelligence to increase access to life-saving cancer care with agentic co-planning, patient-specific simulation and robotic control.Automata, Benchling, Biolevate, Boltz, Danaher, Hologen and Therna Biosciences are using the NVIDIA BioNeMo open platform to develop scientific agents that connect drug design, autonomous laboratories and biological discovery, helping researchers move from hypothesis to experiments faster. BERLIN, Oct. 21, 2026 (GLOBE NEWSWIRE) -- GTC Berlin—NVIDIA today announced collaborations with leading global healthcare and research organizations to advance protein design — including through a newly released open model, RFD4-Proteina — accelerate drug discovery and bring greater precision to cancer care.

Life sciences researchers must search vast biological design spaces and aim to shorten the cycle between computational design and laboratory testing to discover new medicines. Cancer care teams face a different challenge: translating complex imaging and treatment data into precise plans for each patient.

NVIDIA open models, accelerated computing and physical intelligence can help experts evaluate more possibilities faster, from designing new proteins to planning adaptive radiotherapy.

“Agentic and physical AI are opening new possibilities across medicine, from designing proteins and powering autonomous laboratories to improving personalized cancer care,” said Kimberly Powell, vice president of healthcare at NVIDIA. “Together with healthcare and life science leaders, we’re accelerating scientific discovery and advancing more precise, accessible care around the world.”

NVIDIA and the UW Institute for Protein Design Introduce RFD4-Proteina
Proteins are molecular tools that perform many of life’s essential tasks, and designing new versions could open paths to new medicines, diagnostics and industrial applications. But finding a protein capable of performing a designed function requires searching an immense range of possible designs.

NVIDIA and the UW Medicine Institute for Protein Design are debuting RFD4-Proteina, a new NVIDIA BioNeMo™ open model that combines programmable protein design with search capabilities.

The model generates targeted protein designs, enabling scientists and agents to search and refine designs using molecular inputs, constraints and scoring objectives. Potential applications include designing proteins to interrupt disease processes or detect signs of disease in diagnostic tests.

In testing reported in the research draft, RFD4-Proteina achieved higher computational design success rates and generation throughput than the evaluated baselines across four benchmark suites: protein binding, small-molecule binding, enzyme scaffolding and DNA binding. The model helps researchers explore and prioritize candidates for laboratory testing, where experiments establish how a design performs under tested conditions.

“We are moving from an era of discovering the proteins nature has made to one in which we can design entirely new ones,” said David Baker, 2024 Nobel Laureate in chemistry and director of the Institute for Protein Design at the University of Washington. “RFD4-Proteina expands what scientists can create, from proteins that could advance drug discovery to enzymes that break down pesticides. Making the model open will allow researchers around the world to build on these capabilities and pursue solutions once beyond the reach.”

RFD4-Proteina is available today through partners including Amazon Bio Discovery, Anthropic’s Claude Science, Benchling, Databricks, Google Cloud, Hugging Face, Nebius, OpenAI and Tamarind Bio, enabling researchers and developers to integrate the open protein design model into agent, cloud and scientific computing workflows.

Siemens Healthineers Advances Cancer Care With NVIDIA
Siemens Healthineers and NVIDIA are collaborating to develop the next generation of adaptive radiotherapy with agentic and robotic intelligence, combining imaging and oncology expertise with accelerated computing and simulation to simplify workflows and expand access to care.

By 2050, approximately 35 million people worldwide are projected to be diagnosed with cancer each year. Care teams face growing pressure to deliver precise, personalized treatment while managing limited specialist capacity. Greater efficiency can help expand access to care while maintaining the precision needed to deliver prescribed doses to tumors and protect surrounding healthy tissue.

Siemens Healthineers is working with NVIDIA to further develop adaptive radiotherapy through agentic co-planning, patient-specific simulation and real-time computing. NVIDIA Nemotron™ open foundation models are being explored to power agentic co-planning, with the aim of helping oncologists evaluate and refine personalized treatment strategies. The models could then be combined with NVIDIA CUDA®-accelerated dose calculation for rapid patient-specific simulation and the NVIDIA Holoscan platform to connect live sensor data with AI and simulation to support adaptive treatment.

“Adaptive radiotherapy is built on a single principle: treatment should adapt to the patient, not the other way around,” said Arthur Kaindl, head of Varian, the Siemens Healthineers cancer-care business. “We’ve made important advances in precision and adaptation — most recently, with the launch of the Accela system. Our collaboration with NVIDIA builds on that progress, exploring how AI and real-time computing could give clinicians greater speed and insight to make informed decisions, adapt treatment with greater confidence and deliver personalized care to more patients.”

Scientific Agents Advance Drug Discovery and Development
Life sciences is one of the world’s most important scientific frontiers, with global scientific R&D reaching $3.8 trillion and annual pharmaceutical budgets approaching $300 billion.

Scientific agents and autonomous laboratories can help turn more of that investment into evidence, insight and, ultimately, new treatments by connecting design, experimentation and learning in a continuous cycle.

To accelerate discovery and free up scientists for work only they can do, research and laboratory technology companies are using NVIDIA BioNeMo — an open development platform that enables AI-driven biology and drug discovery — alongside Nemotron and other NVIDIA technologies to develop scientific agents and the specialized models and tools that connect drug design, scientific data and laboratory workflows:

Benchling is grounding agents in experimental data, research context and connected scientific workflows.Biolevate is connecting biological data, specialized scientific tools and agentic reasoning across drug discovery and development.Boltz is developing specialized models and tools that scientific agents can use to predict molecular structures and design and evaluate candidates. It is also previewing a scientific agent to plan workflows, apply the right models and interpret results to guide the next experiment.Automata is connecting scientific agents with automated laboratory infrastructure so they can initiate experiments and capture structured, contextualized results through workflows.Genedata’s AI co-scientist will coordinate protein design and testing in the protein design foundry within Danaher’s autonomous lab. The workflow will incorporate RFD4-Proteina, helping scientists use experimental results to guide the next round of designs.Hologen is combining its large medicine models with NVIDIA Nemotron to build AI clinical scientists that help researchers turn imaging and clinical data into insights about patient outcomes to inform clinical trial design.Therna Biosciences is using large language model reasoning to connect experimental evidence and RNA medicine design, helping scientists turn biological insights into therapeutic candidates.  NVIDIA Open Models Streamline Hospital Operations, Expand Access to Specialized Care
Healthcare systems across Europe are working to expand access to specialized care while reducing the administrative demands on already-stretched care teams.

Avelios, Corti, Dedalus, Dawn Health and Sword are also building on NVIDIA Nemotron, powering everything from AI scribes and AI-assisted clinical care to personalized patient support services.

PolyAI is building on NVIDIA Agent Toolkit to speed the path to care through its multilingual dialog deployment with medical software provider Corilus, which has a network spanning more than 70,000 healthcare professionals across Belgium and France.

Apian and VitVio are extending this into the physical world, using NVIDIA Cosmos™ world models and NVIDIA Omniverse™ libraries to build digital twins that monitor and improve hospital operations.

Watch the GTC Berlin keynote from NVIDIA founder and CEO Jensen Huang and explore sessions.

About NVIDIA
NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing.

For further information, contact:
Janette Ciborowski
Corporate Communications
NVIDIA Corporation
[email protected]

Certain statements in this press release including, but not limited to, statements as to: expectations with respect to growth, performance, availability, and benefits of NVIDIA’s products, services and technologies, and related trends and drivers; expectations with respect to NVIDIA’s third party arrangements, including with its collaborators and partners; expectations with respect to technology developments, and related trends and drivers; expectations with respect to advances in medicine and life sciences through AI and accelerated computing, including connecting design and experimentation and improving patient care; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing products and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; NVIDIA’s ability to realize the potential benefits of business investments or acquisitions; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of reports filed with the SEC are posted on NVIDIA’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

Many of the products and features described herein remain in various stages and will be offered on a when-and-if-available basis. The statements above are not intended to be, and should not be interpreted as a commitment, promise, or legal obligation, and the development, release, and timing of any features or functionalities described for our products is subject to change and remains at the sole discretion of NVIDIA. NVIDIA will have no liability for failure to deliver or delay in the delivery of any of the products, features or functions set forth herein.

© 2026 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, and other NVIDIA product and service names are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries and regions. Other company, product, and service names may be trademarks of the respective companies with which they are associated.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/08f24e71-de40-4aed-86e2-5e17b88d93bd

Healthcare and Life Sciences Leader Build on NVIDIA NVIDIA today announced collaborations with leading global healthcare and research organizations to a...

News Summary: 

Agile Robots announces Agile ONE SN, a humanoid reference platform built on NVIDIA Isaac GR00T and NVIDIA Jetson Thor with planned integration of the NVIDIA Halos safety stack, giving developers and researchers a complete platform for frontier humanoid development and validation.NVIDIA Isaac platform adds new Isaac OS runtime, Isaac Lab 3.0 for robot learning and open source reference workflows that combine ChatGPT Astra with NVIDIA Isaac and Cosmos on NVIDIA DGX Station to accelerate robot data generation, training and evaluation.Europe’s robotics ecosystem, including leaders like ABB Robotics, Flexion, Hexagon Robotics, Humanoid, KUKA, NEURA Robotics, Sereact and Universal Robots, is building on NVIDIA’s open robotics platform to advance autonomous robotic systems.  BERLIN, Oct. 21, 2026 (GLOBE NEWSWIRE) -- GTC Berlin—NVIDIA today announced a major expansion of the NVIDIA Isaac™ open robotics development platform, adding a reference humanoid, datasets and runtime, along with updates to its robot learning framework.

Together, these technologies give developers an integrated path from data to deployment to bring general-purpose robots to the real-world faster.

“General-purpose robotics is advancing at extraordinary speed — the ChatGPT moment for robotics is fast approaching,” said Jensen Huang, founder and CEO of NVIDIA. “With NVIDIA Isaac, our full-stack open robotics platform, we are giving developers the models, data, simulation tools and computing systems to bring physical AI to the world’s largest industries.”

Agile ONE SN — A Frontier Humanoid Reference Platform for Research
Agile Robots announced Agile ONE SN, a full-stack reference humanoid preconfigured with NVIDIA Isaac GR00T and powered by the NVIDIA Jetson Thor™ edge AI platform.

Robotics researchers and developers often struggle to integrate the separate simulation, training and deployment tools needed to take robot skills from development to the physical world. Agile ONE SN unifies these tools and workflows on a single platform, cutting setup time from weeks to days.

Agile ONE SN features:

Agile ONE S humanoid body, standing 1.40 meters (4.59 feet tall) and weighing 40 kilograms (88 pounds), with 31 degrees of freedom and a 3-kilogram payload per arm.Dual WUJI Hand 2 five-finger hands, each offering 20 degrees of freedom, 1kHz force control and tactile sensing for dexterous manipulationNVIDIA Jetson Thor onboard compute, delivering 2,070 FP4 teraflops of compute and 128GB of unified memory for onboard reasoning and real-time control.Multimodal sensing, including head and wrist cameras, lidar sensors and inertial measurement units to help the robot perceive and interact with its surroundings.NVIDIA Isaac GR00T platform, which comprises the GR00T foundation model, a full workflow from data capture to deployment and whole-body control for coordinated movement.Safety capabilities, with planned integration of on-robot safety protocols with the NVIDIA Halos full-stack safety system for robotics. “The breakthrough for humanoids is usefulness at scale: one adaptable machine that learns many skills and works across environments built for people,” said Zhaopeng Chen, founder and CEO of Agile Robots. “Today, Agile Robots introduced Agile ONE SN, a full-stack, open reference humanoid built on NVIDIA Isaac GR00T, powered by Jetson Thor, giving developers a ready system to create, train and validate the capabilities needed to put humanoids to work.”

Scheduled to be available in early 2027, Agile ONE SN is designed to advance frontier humanoid research and development, with interest from leading institutions such as Stanford University and ETH Zurich.

New NVIDIA Technology Accelerate Robot Learning — From Data to Deployment
New NVIDIA technologies help developers generate training data, scale robot learning, build simulation environments and deploy robot applications, reducing time to solution.

SimReady Central Library offers more than 2,000 simulation-ready robotics and factory assets, while the Human 1M Dataset includes diverse human activities, synchronized three-view video and 3D hand tracking. Both are available on Hugging Face, with the full Human 1M Dataset accessible to Cosmos Coalition partners.NVIDIA Isaac Lab 3.0 is now generally available, providing an open source, agent-ready learning framework training and refining robot policies from desktop to data center using multi-GPU workflows and physics engines including Newton and NVIDIA PhysX™.NVIDIA Isaac OS, an open source runtime framework built on NVIDIA Holoscan, connects AI, sensors, controls and robot hardware for deterministic, real-time performance from simulation to physical robots.NVIDIA is releasing three open source reference workflows for NVIDIA DGX Station™ that help developers refine GR00T 1.7 models with reinforcement learning, train dexterous manipulation skills in NVIDIA Isaac Lab and post-train NVIDIA Cosmos™ world models for synthetic data generation using ChatGPT Astra.NVIDIA Halos provides a full-stack safety platform built on NVIDIA IGX Thor™ to help move autonomous vehicles and robots from development to safer real-world deployment at scale. SimReady Central Library on Hugging Face includes simulation-ready assets from Comau, FANUC, ForgeCAD, Franka Robotics, LG Electronics, Palatial, Robotiq, Standard Bots, Universal Robots and Vertiv.

NVIDIA’s open source robot learning reference workflows running on DGX Station will be supported by solutions from 1X, Agile Robots, Humanoid, Maven Robotics, Mentee, MicroAGI, Rhoda, Sereact and Skild AI.

Robotics partners are integrating NVIDIA Halos within their safety architectures, including Agile Robots, Agility, Dexory, FORT Robotics and KION for warehouse robot safety. SICK is evaluating Halos to advance dynamic safety for industrial robots, helping them respond to changing conditions beyond fixed zones.

Advantech and NexCOBOT are developing NVIDIA IGX-based industrial computing platforms, while Reynolds & Moore, Accenture and TÜV SÜD are accelerating the certification process for the safe deployment of industrial physical AI.

European Robotics Leaders Build on NVIDIA Open Technologies
ABB Robotics is integrating NVIDIA Omniverse™ libraries with RobotStudio HyperReality to simulate and virtually commission robotic systems before installation across a wide range of industries. KUKA Group is using Omniverse libraries in its Visual Components FactoryLens to add real-time rendering for factory simulation workflows. Sereact is using Isaac GR00T with Cosmos Transfer to train and post-train its Cortex platform for goods handling, running on Universal Robots industrial robot arms.

Using Jetson Thor, Holoscan Sensor Bridge, Halos and NVIDIA Isaac OS, Humanoid is developing and validating robot behaviors before industrial pilots, Hexagon Robotics is building AEON perception capabilities including teleoperation video, localization, mapping and object pose detection, and Bear Robotics is accelerating KR1 perception and model execution while post-training Isaac GR00T through Kino-2 for warehouse, returns and industrial workflows.

Toyota Material Handling Europe and SoftServe use Omniverse and the NVIDIA Isaac Sim™ framework to develop autonomous material-handling solutions, reducing deployment time by up to 50%. Idealworks is using NVIDIA open models and Jetson to develop memory capabilities for autonomous mobile robots in factories. Analog Devices Inc. (ADI) is using NVIDIA Jetson AGX Orin™ and the cuVSLAM library to build autonomous mobile robots.

Hugging Face and Pollen Robotics are using NVIDIA Isaac Lab, Isaac Sim and Newton to build Microduck, a small, open source robot designed to help developers and students train, modify and share new physical behaviors. Franka Robotics is using NVIDIA NIM™ microservices and Isaac Sim to turn natural-language requests into actions on its Franka FR3 Duo robot system. Bellboy is using Jetson and GR00T to power Billie, its first robot teammate built on Bellboy’s physical AI infrastructure, already deployed at hotels operated by Marriott, Hilton, IHG and OYO.

Flexion is using Isaac Lab and Newton to scale learning for Reflect, its unified robot intelligence model combining reasoning and whole-body movement for complex manipulation across robot bodies. Schaeffler is contributing its actuator technology as an exclusive foundational component for Newton, helping accelerate humanoid robot development with NVIDIA Isaac Lab and Isaac Sim.

NEURA Robotics is using Isaac Sim and Isaac Lab to generate synthetic training data and train robot skills in simulation for Neuron AI, its multimodal foundation model.

Watch the GTC Berlin keynote from Huang and explore sessions.

About NVIDIA
NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing.

For further information, contact:
Paris Fox
Corporate Communications
NVIDIA Corporation
[email protected]

Certain statements in this press release including, but not limited to, statements as to: expectations with respect to growth, performance, availability, and benefits of NVIDIA’s products, services and technologies, and related trends and drivers; expectations with respect to NVIDIA’s third party arrangements, including with its collaborators and partners; expectations with respect to technology developments, and related trends and drivers; expectations with respect to advances in general-purpose robotics and the adoption and deployment of physical AI across industries; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing products and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; NVIDIA’s ability to realize the potential benefits of business investments or acquisitions; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of reports filed with the SEC are posted on NVIDIA’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

Many of the products and features described herein remain in various stages and will be offered on a when-and-if-available basis. The statements above are not intended to be, and should not be interpreted as a commitment, promise, or legal obligation, and the development, release, and timing of any features or functionalities described for our products is subject to change and remains at the sole discretion of NVIDIA. NVIDIA will have no liability for failure to deliver or delay in the delivery of any of the products, features or functions set forth herein.

© 2026 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, and other NVIDIA product and service names are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries and regions. Other company, product, and service names may be trademarks of the respective companies with which they are associated.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/daef9262-990d-4455-b650-dcbe1e2c3cfd

NVIDIA Advances Isaac Platform for General-Purpose Robotics NVIDIA today announced a major expansion of the NVIDIA Isaac open robotics development platform, add...

Self-driving truck company Einride (X3Wy.F) said on Wednesday it would broaden its partnership with Nvidia (NVDA.O) by testing the chipmaker's ​AI reasoning model, Alpamayo, in its self-driving vehicles, ‌aiming to speed up the expansion of autonomous freight services while lowering development costs.

Alpamayo is Nvidia's vision language action model, which can ​interpret driving environments, recommend vehicle actions and explain ​its reasoning.

The Swedish company said it plans to become ⁠the first trucking operator to deploy Alpamayo, adapting the ​model using data collected from its commercial freight operations

Einride said ​the technology could help shorten development cycles and make it easier to extend autonomous driving capabilities to new vehicle types and routes, with ​a live road evaluation planned for the second half ​of 2027

The partnership builds on a broader Nvidia tie-up announced in September ‌covering ⁠autonomous driving, safety systems and AI model training

The companies will initially test Alpamayo in "shadow mode", where the model runs alongside existing systems without controlling the vehicle, allowing its decisions ​to be ​compared with those ⁠of Einride's driving software and human driver

The announcement follows Einride's September rollout of what it ​said was the first cab-less autonomous truck operating ​in ⁠regular service on public roads in Germany, transporting goods for supermarket chain Lidl

Einride was among several European mobility companies highlighted ⁠by ​Nvidia on Wednesday as showcasing autonomous ​vehicle applications on the Nvidia Hyperion platform, alongside Mercedes-Benz, Volkswagen Commercial Vehicles and ​Bolt

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Amazon CEO Andy Jassy

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Amazon is racing to secure AI hardware earlier than before, even as data center power shortages leave some GPU systems waiting in warehouses.

Under a new Early Rack Receipt process, AWS expected to receive roughly $5 billion in Nvidia's GB300 server racks at US facilities before final deployment, according to August internal emails reviewed by Business Insider. The company projected roughly $3 billion more in GB300 racks each month "for the foreseeable future," one of the emails said.

Some AWS sites had room for more racks but not enough available power to turn them on, people familiar with the effort said, leaving finished equipment to be staged at intermediary warehouses until the facilities were ready.

At least one AWS team did not have "a clear forecasted path" for getting the incoming racks into data centers at the time, according to one of the emails.

Dark GPUsA lack of new electricity capacity is one of several bottlenecks slowing the buildout of some AI data centers. This has led to a phenomenon known as dark GPUs, where AI chips and servers are purchased but can sit idle due to power supply issues or other challenges. (Dark GPUs can also refer to system design flaws that mean this gear isn't fully used after being plugged in).

This is partly why financial pressure is mounting on big data center projects. Money must be spent upfront to secure supplies of Nvidia GPUs and other valuable AI components. But if some data centers aren't ready to run, those early investments can tie up huge amounts of cash. Debt financing can fill in the gaps, but the market has become less willing to lend against some of these projects lately.

Trade-offAmazon's early-rack program is one piece of the cloud leader's broader AI buildout, which is putting new pressure on its cash flow, as Business Insider exclusively reported this week. Amazon expects roughly $220 billion in capital expenditures this year — more than any Big Tech peer. Its free-cash-flow turned negative last quarter for the first time since 2023, and could stay negative for a while.

For AWS, the trade-off is securing scarce GPU racks before competitors do, even if some data centers are not yet ready to turn them on. But taking ownership earlier can tie up billions in equipment before it starts generating cloud revenue.

Previously, AWS took ownership of a finished rack only upon delivery to a data center, according to internal documents. Under the new approach, it can pay for and record certain racks earlier in the supply chain.

An Amazon spokesperson said the company routinely stages finished hardware near deployment sites so it can install it once capacity becomes available, calling the practice "best business practice." The spokesperson added that Amazon has long-established systems for tracking infrastructure assets and disputed that the broader company lacked a path for getting racks into data centers.

Amazon CEO Andy Jassy previously said the company has a "clear line of sight" to strong returns from its AI investments, calling the technology a "once in a lifetime opportunity."

"We've been through this cycle with the first big AWS growth wave, and liked the results," Jassy wrote in Amazon's annual shareholder letter. "We expect to feel similarly about this next wave."

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Eugene is Business Insider’s Chief Tech Correspondent, where he leads coverage of Amazon. His reporting spans the company’s retail and logistics operations to AWS, Alexa, and its internal culture.Previously, he worked at CNBC, Fortune Magazine Korea, and Japan's Yomiuri Shimbun. He holds degrees from NYU and Columbia University’s Graduate School of Journalism.In 2022, Eugene reported on internal documents indicating that Amazon allegedly used deceptive tactics to enroll customers in Prime and made cancellation difficult. The Federal Trade Commission sued Amazon the following year, citing his reporting. The case ended in a record $2.5 billion settlement in 2025.His work has received multiple honors, including the SF Press Club’s Bay Area Journalism Award and SPJ NorCal’s Excellence in Journalism Award.Eugene lives in the Bay Area. Contact him via email at [email protected], or Signal, Telegram, or WhatsApp at 650-942-3061. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.

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Nvidia (NVDA -0.16%) has been one of the biggest winners of the artificial intelligence (AI) boom. But even its shareholders have reason to feel nervous.

On Oct. 16, the Nasdaq Composite fell 2.2%, while the S&P 500 declined 1.2%. Technology stocks came under pressure as investors worried about rising borrowing costs and the debt piling up behind the AI infrastructure boom. Nvidia's shares also faced pressure, although the company remains highly profitable. Should existing shareholders sell before a potential market crash?

I wouldn't sell Nvidia simply because the market looks shaky. I'd focus on three things: the health of its business, the size of my position, and my ability to withstand a sharp decline. Here's why.

Image source: Getty Images.

Focus on the business, not the headlines
Nvidia's latest results show why investors remain excited about its future. In its second quarter of fiscal 2027, revenue surged 106% year over year to $96.2 billion. Data Center revenue, driven by demand for AI computing infrastructure, jumped 117% to $89 billion. Management expects revenue to reach $108 billion in the following quarter.

These aren't just impressive numbers. They show that Nvidia is turning AI demand into enormous sales and profits. Its graphics processing unit (GPU) chips, networking products, and software help power the infrastructure that supports modern AI. While competitors are trying to catch up, Nvidia benefits from an established software ecosystem and close relationships with major customers.

Still, that doesn't mean its lead is unassailable. Customers could reduce spending, competitors could gain ground, or growth could slow. But investors should distinguish between a temporary market sell-off and a deterioration in Nvidia's business. For instance, if its competitive advantages remain strong and earnings continue growing, a falling share price alone isn't a compelling reason to sell.

NVDA Nvidia$216.75-$0.34 (-0.16%)

NASDAQ · As of 11:30 AM ET 10/20/26

Check whether Nvidia has become too large a position
Even a great company can become a risky investment if it takes up too much of your portfolio. Suppose Nvidia accounts for 40% of your investments. If its shares fall 50%, your total portfolio loses 20% of its value, assuming everything else stays unchanged. Could you tolerate that loss without panicking?

If Nvidia has become an outsize position, trimming some shares may be sensible even if you remain optimistic about its future. You can reduce your risk without abandoning a company you believe will benefit from AI adoption.

However, don't sell everything simply because you fear a crash. If you think Nvidia's business remains healthy and your position is manageable, holding through volatility may be reasonable. The goal isn't to avoid every decline. It's to avoid taking so much risk that a downturn forces you to make a decision you'll regret.

Prepare for a downturn instead of predicting one
Nobody knows whether the recent market weakness will develop into a full-blown crash. So, rather than trying to forecast the next move, prepare for different outcomes.

First, maintain an emergency fund and avoid investing money you'll need for near-term expenses. You don't want an unexpected bill to force you to sell Nvidia at a depressed price.

Second, examine your other holdings. If several depend on the same AI spending boom, your portfolio may be less diversified than you think.

Finally, decide what price would make Nvidia attractive enough to buy more. Consider its future earnings, competitive advantages, and the risks to its growth. Don't assume a lower share price automatically makes it a bargain.

If Nvidia becomes cheaper while its business remains strong, you may have an opportunity to gradually add shares.

What does it mean for investors?
Nvidia remains a major beneficiary of AI infrastructure spending, but no stock is immune to market volatility or valuation risk.

And since every investor is different -- with different time horizons, risk tolerances, and circles of competence -- it is impossible to offer a universal course of action. Instead, here's a good framework that investors can use to aid their decision:

I'd hold if I think the business prospects remain strong in the coming quarters, the potential return is attractive, and my position is manageable. I'd trim if Nvidia has become too large a part of my portfolio. Finally, I'd reassess or sell if its competitive position weakens or its future returns no longer justify the risk.

The key is to distinguish between market fear and business risk. Don't sell Nvidia simply because you're afraid of a crash. Just make sure you own an amount you can comfortably hold through one.

In early 2024, the man known as the "Dean of Valuation" viewed Nvidia (NVDA +1.38%) as ridiculously overpriced. New York University finance professor and author Aswath Damodaran posted on X (the social media platform formerly known as Twitter) that the stock "is a bridge too far for me." He slashed his Nvidia position by half.

Since then, Nvidia has become the world's largest company by market cap. Its share price has nearly tripled. You might think that the chipmaker's valuation would be even more concerning now than it was in 2024. However, an interesting thing has happened with Nvidia along the way. Believe it or not, the stock hasn't been this cheap in seven years -- and only one explanation makes sense.

Image source: Nvidia. Image source: Nvidia.

Historically cheap Nvidia's shares currently trade at slightly above 27 times trailing 12-month earnings, according to YCharts. The last time the stock's price-to-earnings (P/E) ratio was at that level was in June 2019.

NVDA PE Ratio data by YCharts

Over the last 10 years, Nvidia's average trailing P/E ratio was 61.3. Its earnings multiple today is less than half that amount.

To be sure, Nvidia still doesn't look cheap by most standards. The S&P 500 (^GSPC +0.41%) sports a trailing P/E ratio of 24.9. Based on the S&P 500 Shiller CAPE (cyclically-adjusted price-to-earnings) ratio, the index is near its second-highest valuation ever.

Nvidia isn't even the least expensive among its "Magnificent Seven" peers. Google parent Alphabet (GOOG +0.96%) (GOOGL +1.05%), Amazon (AMZN +4.98%), and Facebook parent Meta Platforms (META -0.55%) All have lower trailing earnings multiples.

But none of these comparisons negate the fact that Nvidia is historically cheap. Importantly, the stock's forward P/E ratio (which is based on analysts' earnings projections) is lower than all of the other Magnificent Seven stocks.

NVDA Nvidia$217.09+$2.96 (+1.38%)

NASDAQ · As of 4:00 PM ET 10/19/26

The best (and only) explanation There are several possible explanations for why a company's earnings multiple might be at the lowest level in years. For example, its business could be deteriorating. Competition could be intensifying to a worrisome extent. However, those clearly don't apply to Nvidia.

The GPU maker's sales in the second quarter of fiscal year 2027 soared 106% year over year to $92.6 billion. Its earnings skyrocketed 126%. Nvidia CEO Jensen Huang said in the Q2 earnings announcement, "Demand is accelerating."

So why is Nvidia's valuation at a seven-year low? The best explanation is that the company's earnings are growing faster than its share price. That's also the only mathematical explanation. A price-to-earnings ratio can only decrease when the denominator (earnings) increases at a faster rate than the numerator (price).

In 2024, Damodaran's valuation model for Nvidia assumed the company would increase its revenue at a compound annual growth rate of around 32% over the next five years. Roughly halfway through his projection period, Nvidia continues to blow past that growth rate in spectacular fashion.

What's more, the company shows no signs of slowing down. Huang said in Nvidia's Q2 earnings call, "I think the big picture is that we're going through this platform shift, and it affects every computer company. And every industry in the world uses computers. So, therefore, every industry is affected, every company is affected."

Is Nvidia stock a no-brainer buy?Does all of this make Nvidia stock a slam-dunk pick for investors? Not necessarily.

Many Americans are already voicing concerns about data centers being built nearby. Wall Street is worried about the massive AI infrastructure spending, with some analysts wondering if the returns on investment will materialize. If these AI investments slow significantly, Nvidia won't be able to keep up its impressive growth trajectory.

And while competition isn't yet increasing at a worrisome level, it is increasing. Nvidia faces challenges from direct rivals such as AMD (AMD +1.76%) as well as from its customers, including Amazon, Google, and Microsoft.

Still, one of the world's most respected valuation experts seems to have been dead wrong about Nvidia. He acknowledged in 2024 that his valuation analysis could be off if AI provided a much greater tailwind than he expected. It has -- and the trend could continue. If so, Nvidia's stock is likely to keep beating the market.

Chip stocks just had a tough two weeks. The PHLX Semiconductor Index, a widely followed measure of chip stocks, slid for eight straight trading sessions from Oct. 7 through Friday, Oct. 16. In that span the index dropped around 16%. Going by daily closing prices, it hadn't fallen so many days in a row since October 2008.

Nvidia (NVDA +1.38%) did better than the index but still slid about 10%, from a record close of $239.24 on Oct. 6 to $214.13. The sell-off came as worries over interest rate hikes, the financing behind artificial intelligence (AI) projects, and competition weighed on chip stocks worldwide.

The index bounced about 1.6% on Monday as of this writing. But after a fall like this, should investors buy Nvidia stock now or wait?

Image source: Getty Images.

Four gains, two lossesSince Nvidia's shares began trading in 1999, the chip index has fallen at least eight straight sessions six other times: in May and September 2002, May and June 2006, late December 2007 through early January 2008, and October 2008. (The May 2006 streak lasted nine sessions, so this one isn't a record. It's the longest in 18 years.)

To see what followed, I measured Nvidia's share price from the last day of each streak to the same date a year later, using daily closing prices and leaving out dividends.

Nvidia stock was higher a year later in four of the six cases. After the September 2002 streak, shares rose 118%. After the October 2008 streak, they more than doubled. The two 2006 streaks were followed by gains of 47% and 87%.

But the other two cases were ugly. A year after the May 2002 streak, the stock was down 31%.

A year after the streak that ended in January 2008, it was down 69%.

What separated the winners from the losers?Notably, both losing cases came before the worst of a long downturn in chip stocks. Measured the same way, the index itself was down another 22% a year after the May 2002 streak and another 38% a year after the one that ended in January 2008.

The two biggest gains came late in those same downturns. The index bottomed only around two weeks after the September 2002 streak ended, and about six weeks after the October 2008 streak. The 2006 streaks, meanwhile, came in a pullback that didn't last, and the index was up 4% and 13%, respectively, in the next 12 months.

In other words, the streak itself didn't tell investors much. What counted was where chip stocks were in a bigger downturn, and that was only clear looking back.

Nvidia's sales are still rising fastThat's why I'd focus on the business rather than the chart. And Nvidia's numbers don't look like those of a company heading for a slump, at least not yet.

Showing how strong demand for its chips remains, Nvidia's revenue in the second quarter of fiscal 2027 (the period ended July 26, 2026) surged 106% year over year, to $96.2 billion. That was an acceleration from 85% growth in fiscal Q1. Operating income climbed 124% from the year-ago quarter, to $63.7 billion. What's more, management guided for fiscal third-quarter revenue of $108 billion, plus or minus 2%, against $57.0 billion the year before. At the midpoint, that's growth of around 89% -- slower than in the second quarter, but still nearly 90%.

Of course, the worries driving this sell-off could become something bigger. If higher rates or tighter financing lead big customers to slow their data center spending, Nvidia's growth could cool fast. But so far, the company's own results don't show that happening.

NVDA Nvidia$217.09+$2.96 (+1.38%)

NASDAQ · As of 4:00 PM ET 10/19/26

Meanwhile, at around $217 as of this writing, Nvidia's stock trades at about 14 times the expected earnings for its fiscal 2028 (which ends in January 2028), using Wall Street's average estimate. Arguably, investors paying that price are already expecting growth to slow from here.

Does the losing streak make Nvidia stock a buy? Not by itself. In 2002 and early 2008, a drop like this turned out to be an early step in a far deeper decline in chip stocks.

But I think Nvidia's growth and its price make the stock worth a look today. Given how those two early streaks went, though, I'd probably buy in stages over a few months rather than all at once.

Could Nvidia (NVDA +1.38%) become a $10 trillion company?

That's a reasonable question to ask. Nvidia sits at the center of the artificial intelligence boom, supplying the chips and systems that power AI data centers. As a result, its revenue and profits have grown at extraordinary rates as companies race to build AI infrastructure.

But I'd be cautious about assuming the stock can keep delivering spectacular returns. My biggest concern is that Nvidia's largest customers are also becoming its competitors. If they succeed in developing their own AI chips, Nvidia could lose some of its pricing power over time.

That matters because Nvidia needs both growth and pricing power to maintain a substantial share of AI computing spending.

Image source: Getty Images.

Nvidia's customers want alternatives Consider Nvidia's biggest customers: Microsoft, Amazon, Alphabet, and Meta.

These technology giants are spending enormous sums building data centers to train and run AI models. To put it into perspective, these four companies are projecting $760 billion in capex this year. Much of that spending benefits Nvidia, which sells the graphics processing units (GPUs) and networking equipment needed to power these facilities.

But buying Nvidia's hardware comes at a massive cost, so unsurprisingly, these companies have strong incentives to find cheaper, more efficient ways to run their AI workloads. One solution is to develop their own chips.

Google has its Tensor Processing Units, or TPUs, Amazon has its Trainium chips, and Microsoft is developing its Maia family of AI accelerators. The logic is straightforward. If a cloud provider can run an AI workload more efficiently with its own chip, it may reduce costs and improve profitability.

For investors, that's the risk worth watching: Nvidia's customers have a financial incentive to become less dependent on Nvidia.

NVDA Nvidia$217.09+$2.96 (+1.38%)

NASDAQ · As of 4:00 PM ET 10/19/26

Why this matters for Nvidia's valuation Nvidia's recent financial results show just how powerful its business has become.

In its second quarter of fiscal 2027, revenue surged 106% year over year to $96.2 billion. Data Center revenue grew 117% to $89 billion, while gross margin reached 75%. These numbers demonstrate Nvidia's enormous advantage today. Its products remain in strong demand, and its software ecosystem makes its platform difficult to replace.

But today's success doesn't guarantee that Nvidia will maintain the same economics indefinitely. If customers increasingly turn to their own chips for certain workloads, Nvidia may face greater pressure to compete on price, efficiency, and performance. It could still grow rapidly, but its growth or profit margins might eventually fall short of optimistic investors' expectations.

That distinction matters when considering a $10 trillion valuation. Assuming the investor is willing to pay a 25x price-to-earnings (PE) ratio for the stock in the long run, Nvidia needs to generate $400 billion in net profit. In fiscal 2026 (ended Jan. 25, 2026), Nvidia's net income was $120 billion.

To be fair, Nvidia's latest quarterly revenue was close to $60 billion -- or annualized at $240 billion -- so the $400 billion net profit doesn't seem too far-fetched. But assuming the demand for Nvidia's products will continue to grow at these levels may be too optimistic. In particular, if its customers capture more of the economic benefits of AI computing, Nvidia might struggle to deliver the earnings growth investors anticipate.

In other words, the risk isn't necessarily that Nvidia's business will shrink, but rather that the company could become much bigger without becoming as profitable as the market expects.

The bull case remains strong Nvidia remains a remarkably strong business. Its CUDA software ecosystem, networking technology, and integrated computing systems make its products difficult to replace. Building a custom chip is one thing; creating an entire platform that developers want to use is another.

And Nvidia's customers could continue buying its products while developing alternatives. AI demand may grow quickly enough for both Nvidia and custom-chip providers to thrive. So, the rise of custom chips doesn't automatically mean Nvidia will lose its leadership. The question is just how much of the industry's future growth Nvidia can capture and how much profit it might retain.

What does it mean for investors? Nvidia reaching a $10 trillion market capitalization isn't impossible. Its technological advantages and exposure to AI give it an enormous opportunity. But I wouldn't assume that today's growth rates and profit margins will continue indefinitely.

As Nvidia's biggest customers develop their own chips, investors should watch whether these alternatives begin to capture a meaningful share of workloads that would otherwise run on Nvidia hardware. That's the risk I would watch before betting on a $10 trillion valuation.

Nvidia (NVDA +1.93%) is the market's most valuable company by market cap. It's the only one entering this week with a market cap north of $5 trillion. Instinctively, you might think that the priciest name among U.S.-listed companies would also be one of the most expensive names on Wall Street.

Looking back, it's not entirely cheap. Nvidia trades for 27 times adjusted earnings on a trailing basis. It's not an outrageous price tag. It's also not bargain bin fodder. However, when you start to zoom out -- for a clear view of both the recent past and the next few years of projected growth -- the value in Nvidia stock starts to shine through.

Image source: Getty Images.

A chip off the old block
There's no point in burying the lede. Nvidia is currently trading for a modest 8 times what analysts see it earning in fiscal 2030. The key word there is "currently" since a profit target is a movable feast. It may be academically correct to say that you can buy Nvidia today at a 2030 P/E multiple of 8, but the chances of that actually being the case once we get there are slim. It could be considerably higher. It could be considerably lower.

Projections will change, but let's lay out today's table. Here is what analysts see Nvidia generating in normalized earnings through the next few years, and the respective P/E ratio based on where the stock is now.

Fiscal YearEPSP/E2027$9.31232028$15.91132029$21.34102030$25.9882031$28.797
Data source: S&P Global. Nvidia's fiscal year 2027 will end on Jan. 31, 2027.

It's like a football kick in swirling winds. The longer you have to travel to get through the goalposts, the more variance there will be when the football gets there. So, yes, Nvidia is trading at 8 times what analysts expect it to earn on an adjusted basis in fiscal 2030. Don't bet on it landing there.

NVDA Nvidia$218.27+$4.14 (+1.93%)

NASDAQ · As of 3:39 PM ET 10/19/26

Aiming at a moving target
Nvidia has been a spectacular investment. As the undisputed leader in artificial intelligence infrastructure, it's been feasting on the boom lately. Just check out the accelerating revenue growth that Nvidia has posted in the last few quarters.

Q2 FY 2026: 56%
Q3 FY 2026: 63%
Q4 FY 2026: 73%
Q1 FY 2027: 85%
Q2 FY 2027: 106%

Making a great trend even better, the bottom line is growing even faster. It won't always be that way. Nvidia's own guidance suggests revenue will decelerate slightly in the current quarter, which ends next week. Bulls can rightfully counter that Nvidia has a long track record of exceeding its conservative guidance, but a slowdown is as natural as it is inevitable.

The wonderful thing about momentum is that analysts' profit targets for future years have been rising with every blowout quarter. Wall Street pros weren't expecting Nvidia to earn $25.98 per share in fiscal 2030 a year ago, just as they weren't expecting a per-share profit of $9.31 this year.

Fiscally yours
I want to close on one final point. Fiscal 2030 may seem like it's four years away. It's not. In fact, in a little more than three months, Nvidia will dip its toe into fiscal 2028. Fiscal 2030 starts just two years, three months, and less than two weeks from now.

So Nvidia is already cheaper than you probably think. It's trading for just 13 times next year's earnings. Why do you think Nvidia's board recently authorized a record $150 billion in share repurchases? It's not the only one that thinks the stock is pretty cheap these days.

This can all change, of course. Tailwinds can become headwinds. Growth can slow sharply instead of modestly. Nvidia's chunky net margins can contract. Every investor should have a long-term mindset paired with short-term vigilance. It's paid off so far, with Nvidia stock being a nine-bagger over the past five years. Don't be surprised if this winner keeps winning.