Jensen Huang, CEO of Nvidia, attended a Morgan Stanley investor roadshow this week and stated that the company’s quarterly revenue is on track to approach $100 billion. Huang’s comments came in the context of Nvidia’s record first-quarter fiscal 2027 revenue of $81.6 billion reported on May 20, which represents a 20% sequential growth and 85% year-over-year increase. Nvidia projected approximately $91 billion in revenue for the fiscal second quarter ending in July.
During the Morgan Stanley event, Huang emphasized management’s confidence in accelerating revenue growth. Morgan Stanley analyst Joseph Moore reiterated an Overweight rating on Nvidia, setting a $288 price target in a note dated July 10, indicating about 43% upside from recent levels. Moore’s price target is based on a 22x multiple of his estimated earnings-per-share of $13.08 for calendar year 2027. He advised investors to accumulate Nvidia shares on weakness, labeling it the firm’s top semiconductor pick.
Nvidia holds roughly 85% market share in AI accelerators and has not lost market share over the last two years. Huang’s remarks also addressed concerns raised by SemiAnalysis about delays in Nvidia’s Rubin Ultra platform, which were reportedly due to manufacturing challenges. Nvidia asserted that its “roadmap is intact,” countering claims that the Kyber NVL144 rack, designed for the Rubin Ultra GPUs, would be delayed to 2028.
Earlier in June, SemiAnalysis reported that Nvidia had canceled the original four-die Rubin Ultra design in favor of a dual-die configuration, citing manufacturing concerns. Nvidia’s statements at the roadshow reaffirmed that the product delivery schedule remains unchanged.
For the full fiscal year 2026, Nvidia reported $215.9 billion in revenue and $120 billion in net income. With quarterly guidance set at $91 billion, the company aims to achieve $100 billion in a single quarter this fiscal year. Shares of Nvidia rose following the denial of the Rubin delay rumors.
