Quick Take
The tech showcase, described by Truist analyst William Stein as the "Super Bowl of AI," featured product launches, strategic partnerships, and significant disclosures from leadership regarding future revenue outlook.
Raymond James analyst Simon Leopold raised his price target from $291 to $323, maintaining a Strong Buy recommendation. He noted that Nvidia's revised projections suggest total GPU shipments could reach $1 trillion by 2027, a figure he believes may still be conservative.
Jensen is clearly positioning for the inference era, Rubin for workloads requiring significant attention, and Groq for low-latency token generation.
Leopold mentioned that incorporating anticipated contributions from the Vera Rubin Ultra and Groq LPX platforms could push total AI data center revenue close to $1.3 trillion by 2027.
Truist's Stein also increased his price target, adjusting it from $283 to $287, while reiterating a Buy recommendation. His analysis highlighted three core themes that emerged on the second day of GTC.
Furthermore, Nvidia is emphasizing "tokenomics" – tokens per second per watt – as a key performance metric for inference operations. The company is addressing this challenge through its rack-scale Vera Rubin infrastructure, allowing customers to configure combinations of five different resource rack configurations.
$1 Trillion Revenue Visibility Disclosed
Wall Street's current aggregate forecast for data center revenue stands at approximately $950 billion, spanning 2025 through 2027. Stein anticipates "at least modest upside" in 2026 and 2027 based on management's statements.
He raised his forecast for calendar year 2027 data center revenue to $468 billion, up from $439 billion. Earnings per share estimates for the period also saw an increase, from $10.12 to $11.48.
Despite the bullish analyst sentiment, the stock price failed to reflect the same enthusiasm. NVDA was down approximately 2.6% in pre-market trading on Thursday.
NVDA Price Targets and Analyst Consensus
Wall Street's consensus recommendation for NVDA remains a Strong Buy, comprising 40 Buy ratings and one Hold rating. The average price target is $274.16, indicating a potential upside of approximately 52% from current trading levels.
Over the past 12 months, NVDA shares have gained 56%, but as of Thursday's trading session, they were still down more than 3% year-to-date.
The analysts' average price target of $274.16 is well below the revised targets from Raymond James and Truist this week.