STOCKS | Nvidia Shares Rise 1.8% as SemiAnalysis Lifts Data Center Revenue Outlook

Nvidia shares rose about 1.8% on the last trading day of the quarter after a pullback of more than 11% over the prior month. According to Jin10, the rebound followed a more optimistic view from independent semiconductor research firm SemiAnalysis, which said Nvidia’s data center computing revenue in the second half of fiscal 2027 could be about 20% above the Wall Street consensus. SemiAnalysis attributed the upside to easing supply bottlenecks and faster ramp-up of Nvidia’s Vera Rubin platform. The report said HBM4 memory supply constraints that previously limited shipments have largely been resolved, and front-end wafer capacity has been arranged in advance to support higher shipments in the second half. Supply-chain information cited in the report indicated that the product transition from Blackwell to Rubin is expected to be completed in the second quarter of 2026, with demand acceleration beginning in the third quarter. The report said Nvidia’s Vera Rubin platform entered mass production in June and is planned for delivery to multiple cloud providers in the fall, including AWS, Microsoft Azure, Google Cloud, and Oracle. SemiAnalysis also noted that next-generation HBM4 offers a significant bandwidth increase and is viewed as strengthening AI compute performance advantages. However, the report said the original Rubin Ultra design plan has been scaled back, with size and performance below initial expectations, leaving uncertainty about the long-term revenue impact. The report added that the continuation of the AI compute cycle remains a key market focus.