Nvidia Proves AI Demand Unstoppable, Even Without China

Nvidia NVDA showed once again why it sits at the center of the AI boom, posting eye-popping guidance that blew past already lofty expectations and it did it without China. Shares clawed back early losses and finished slightly higher.

Morgan Stanley's Joseph Moore said Wall Street had braced for $53 billion in revenue, but Nvidia went a step further, guiding $54 billion for the October quarter. That's $7 billion of sequential growth, the first time any company has guided for that kind of dollar jump. Customers are still buying three-year-old Hoppers, Moore noted, underscoring just how tight supply remains. He kept an Overweight rating and nudged his price target to $210.

Jefferies' Blayne Curtis called demand for both Hopper and Blackwell rock solid, pointing to hyperscalers seeing 10x ROI on GPU investments. He also flagged $20 billion in sovereign spending expected this year. Wedbush's Dan Ives piled on, saying the AI chip world is Nvidia's world with everyone else paying rent.Nvidia's grip on the AI market is stronger than ever, with trillions in spending still ahead.