Morgan Stanley (Morgan Stanley) stated that the management of artificial intelligence (AI) chip giant NVIDIA recently revealed strong demand for the next generation graphics processing unit (GPU) Blackwell, which has been fully booked for the next 12 months. They are optimistic that NVIDIA's stock price is expected to break records.
Da Mo held a series of meetings with investors this week for Nvidia CEO Huang Renxun and other Nvidia executives. The Nvidia executive group revealed that Blackwell GPU products have been fully ordered for the next 12 months, meaning that if customers place orders now, they will not receive the products until the end of next year. According to the conference materials, Nvidia's data center business is still thriving, and Blackwell's visibility in the future is very high. We are pleased to see that Nvidia's stock price will once again break records.
Da Mo said that the long waiting time for shipment of Blackwell is not only a signal of strong demand for Blackwell, but also implies that the demand for Hopper product line will continue to be hot. Customers urgently need it and may switch to buying Hopper chips, "indicating that the shipment volume will maintain high growth in the next year".
Although some analysts believe that competitors may erode some of the market share, the Great Wall Motors team believes that the opposite will happen next year. "Nvidia is expected to continue expanding its market share in AI processors in 2025, as the largest customized chip users have significantly increased their adoption of Nvidia's solutions," all information reinforces this view.
Da Mo described that Nvidia executives' views on the "Super 2025" outlook as only the "early stages of a long-term investment cycle". Nvidia is scheduled to release its quarterly financial report in November. Siebert investor Mark Malek pointed out that Nvidia's profit forecast for this quarter is expected to increase by over 80% annually. If viewed optimistically, this growth rate is still very high and higher than other competitors.
The analyst team of UBS pointed out that Taiwan's export data released this week is widely in line with the company's estimate that Nvidia's data center revenue will increase by 15% this quarter (ending on October 31).
Nvidia is optimistic, with the first benefit coming from TSMC, whose supply chain has already shipped GB200 servers this quarter. Foxconn stated in its latest press conference that AI server GB200 will be shipped in small quantities as scheduled in the fourth quarter, and is expected to increase production in the first quarter of 2025. Foxconn will be the first and first manufacturer to ship.
