Jensen Huang, CEO of Nvidia, attended a Morgan Stanley investor roadshow this week, indicating that the chipmaker’s quarterly revenue is approaching $100 billion and addressing rumors of delays to its Rubin Ultra platform. Nvidia reported a record first-quarter fiscal 2027 revenue of $81.6 billion on May 20, reflecting 20% sequential growth and 85% year-over-year gains. The company projected approximately $91 billion in revenue for the fiscal second quarter ending in July, reinforcing management’s confidence in its revenue trajectory ahead of the $100 billion mark.
Morgan Stanley analyst Joseph Moore maintained an Overweight rating on Nvidia, setting a price target of $288, which suggests a potential upside of around 43% from current levels. Moore based this target on a 22x multiple of his estimated earnings-per-share of $13.08 for calendar year 2027. He advised investors to consider accumulating Nvidia shares during any price weakness.
Nvidia holds roughly 85% market share in AI accelerators, with no observable loss in this segment over the past two years. Huang’s presence at the roadshow aimed to counter reports from SemiAnalysis, which claimed in early July that Nvidia’s Kyber NVL144 rack was delayed to 2028 due to a manufacturing issue with a crucial circuit board. Nvidia denied these claims, stating, “our roadmap is intact.”
This denial followed another report from SemiAnalysis in late June, which stated that Nvidia canceled the original four-die Rubin Ultra design in favor of a dual-die configuration due to manufacturing challenges. Nvidia’s comments at the roadshow reaffirmed that there are no changes to its product delivery schedule.
Nvidia’s fiscal year 2026 concluded with total revenue of $215.9 billion and net income of $120 billion. With the current quarter guided at $91 billion, the company appears well-positioned to achieve $100 billion in revenue within a single quarter later this fiscal year. Following Nvidia’s dismissal of the Rubin delay rumors, the company’s shares experienced an increase.
