Jefferies out making the call that $NVIDIA (NVDA.US)$ data c...

Jefferies out making the call that $NVIDIA (NVDA.US)$ data center revenue in 2025 may be closer to $210 billion vs $170-$180 billion consensus driven by $Taiwan Semiconductor (TSM.US)$ ramping CoWoS (advanced packaging) to 70,000+ WPM in 2025.

Add to that the comments from NVDA and Hon Hai that Blackwell demand is strong = NVDA going higher the last two days and helping to fuel the “AI infrastructure” trade of late.

At $210 billion data center revenue in CY 2025, what does NVDA 2025 EPS look like? $5.00 to $6.00? Street ~$4. 30x = $150 - $180. Stock currently ~$130.

Blackwell demand is being driven by GPT 5 training as well as competitors ramping AI training to keep pace. Believe $MSFT / OpenAI have been contracting with Coreweave and Oracle to assist in 5.0 training, offloading 5.0 training to these vendors.