Quick Summary
- Shares of NVDA declined approximately 2.6% during premarket hours Thursday despite favorable analyst commentary following GTC
- Raymond James elevated its price objective to $323 from $291, keeping its Strong Buy recommendation
- Truist increased its price objective to $287 from $283, maintaining its Buy rating
- The chipmaker disclosed $1 trillion in aggregate GPU order visibility extending through 2027
- Analyst consensus remains Strong Buy: 40 Buy recommendations, 1 Hold; mean target $274.16
Shares of Nvidia experienced a decline of approximately 2.6% during premarket trading Thursday, March 19, despite two prominent Wall Street firms increasing their price objectives following the chipmaker’s yearly GTC conference.
The technology showcase, described by Truist analyst William Stein as “the Super Bowl of AI,” included product announcements, strategic partnership reveals, and a significant revenue outlook disclosure from company leadership.
Raymond James analyst Simon Leopold elevated his price objective to $323 from $291, maintaining his Strong Buy recommendation. He highlighted Nvidia’s revised projection showing $1 trillion in aggregate GPU shipments through 2027, characterizing that estimate as potentially understated.
Leopold noted that incorporating projected contributions from Vera Rubin Ultra and the Groq LPX platform, aggregate AI data center revenue through 2027 might approach $1.3 trillion.
Truist’s Stein likewise increased his price objective, adjusting it to $287 from $283, while reaffirming a Buy recommendation. His analysis emphasized three central themes emerging from GTC’s second day.
Initially, company executives characterized 2025 as “the year of inference,” signaling an industry transition from training-centric infrastructure to large-scale production inference deployment. Stein identified three demand catalysts: generative AI amplifying token requirements, OpenClaw generating what Nvidia describes as a “ChatGPT moment” for Agentic AI applications, and accelerating expansion in physical AI initiatives including autonomous vehicle technology and humanoid robotics.
Additionally, Nvidia is emphasizing “tokenomics” — measuring tokens per second per watt — as the critical performance benchmark for inference operations. The organization is tackling this challenge through its rack-scale Vera Rubin infrastructure, enabling clients to configure combinations of five distinct resource rack configurations.
$1 Trillion Revenue Visibility Disclosed
The standout announcement from GTC was Nvidia’s disclosed revenue visibility totaling $1 trillion derived from Blackwell and Vera Rubin commitments extending through 2027. This represents an increase from the $500 billion through 2026 figure the organization referenced previously.
Wall Street’s present data center revenue projections total approximately $950 billion spanning 2025–2027. Stein anticipates “at least modest upside” for 2026 and 2027 considering management’s statements.
He adjusted his calendar year 2027 data center revenue projection upward to $468 billion from $439 billion. His earnings per share forecast for that period increased to $11.48 from $10.12.
Notwithstanding the optimistic analyst sentiment, shares failed to reflect similar enthusiasm. NVDA traded approximately 2.6% lower ahead of Thursday’s opening bell.
NVDA Price Objective and Analyst Consensus
The consensus recommendation on NVDA from Wall Street remains Strong Buy, featuring 40 Buy recommendations alongside a single Hold rating. The mean price objective registers at $274.16, suggesting approximately 52% potential upside from present trading levels.
NVDA has advanced 56% throughout the preceding 12 months but remains over 3% negative year-to-date entering Thursday’s trading session.
The average analyst price objective of $274.16 falls considerably beneath both the Raymond James and Truist targets upgraded this week.
