Wolfe Research reiterated an Outperform rating and $230 price target on Nvidia (NVDA) as the company held its semi-annual GTC conference on Tuesday, during which it indicated that it has visibility to more than $500B in cumulative Blackwell and Rubin revenue through 2026 so far. While the details of that disclosure are a bit unclear, even a conservative interpretation of those comments suggests significant upside compared with consensus expectations, the analyst tells investors in a research note. The firm said its analysis assumes Nvidia means it will ship a total of $500B of Rubin and Blackwell in CY25 and CY26.
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