- Gene Munster stated that Nvidia’s outlook underscores how early we still are in the AI buildout.
- The chip giant posted stellar third-quarter results, beating expectations and raising its forecast for the fourth quarter of fiscal 2026.
- Munster thinks Nvidia will continue to be sold out until sometime in 2027.
Deepwater Asset Management Managing Partner Gene Munster said the recent guidance from NVIDIA Corp. (NVDA) suggests that, despite investor jitters, the AI infrastructure boom is far from peaking.
In a post on the X platform, Munster highlighted the slide in Nvidia’s stock and assured that the AI buildout is still in its early days.
Big Picture Signal
In his detailed analysis, Gene Munster stated that Nvidia’s outlook underscores how early we still are in the AI buildout.
The chip giant posted stellar third-quarter results, beating expectations and raising its forecast for the fourth quarter of fiscal 2026. That upbeat guidance reflects continued demand for its data-center GPUs, Munster added.
Nvidia’s stock inched over 0.2% lower in Friday’s premarket. However, on Stocktwits, retail sentiment around the stock remained in ‘extremely bullish’ territory amid ‘extremely high’ message volume levels.
Long-Term Demand Pipeline
At its latest technology conference, CEO Jensen Huang revealed that NVIDIA has visibility into a roughly $500 billion Blackwell-and-Rubin chip revenue opportunity through the end of 2026, a figure that implies at least 54% year-on-year growth, above current Wall Street projections. Munster calls this a material signal of structural tailwinds.
Interestingly, the $500 billion outlook excludes any assumed revenue from China, meaning that all this projected growth comes from non-Chinese demand, added Munster.
In the short run, Munster stated that it’s evident that Nvidia doesn’t have enough supply to meet customer needs and that they’ll be sold out until sometime in 2027.
NVDA stock has gained over 34% in 2025 and over 23% in the last 12 months.
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