$NVDA BofA Raises PT to $1500 sees EPS power of over $50 within 2 years

1) new GB200 NVL2 platform (2 Blackwell GPUs + 2 Grace CPUs) for mainstream LLM inference applications, suitable for scale-out configs;

2) MGX modular reference design platform with support now at 90+ systems (vs. just 14 systems last year) including upcoming AMD/Intel CPUs launching later this year;

and 3) annual product cadence of AI offerings including Blackwell Ultra for 2025 and Rubin for 2026, as well as new CPU, SuperNIC, and switch offerings.

Importantly, NVDA is now eyeing millions of GPUs-sized clusters for large hyperscalers as early as 2026, paving the way for greatly increased unit opportunities. On the other hand, NVDA is also eyeing mainstream/enterprise AI use cases with its smaller NVL2 and modular MGX platforms. We highlight NVDA’s multi-generational roadmap visibility and its breadth of portfolio as key growth drivers.