Nvidia CEO Jensen Huang says the October revenue forecast of about half a trillion dollars for 2026 has grown on stronger demand.
Tom
Jensen Huang
Pricing is going up in cloud. Spot pricing is starting to go up. That tells you about the demand being generated all over the world. H200 will contribute to that. All told, we should have a very good year.
Ben Barringer
Incrementally slightly more positive about Nvidia for 2026, but no real big financial target updates. Data center supply chain looks better than in Blackwell, HBM still tight. Physical AI announcements around automotive and robotics are interesting.
Is Jensen Huang terrified of competitors nipping at his heels? When does autonomous vehicle become real in terms of revenue?
Tom
Ben Barringer
It's not a 2026 story but this year you will be able to drive a Mercedes CLA with a full Nvidia stack. It's starting to produce revenue. Think of it as a diversification strategy - getting GPUs everywhere.
Why get excited about Nvidia stack in a car versus Waymo?
Anna
Ben Barringer
Nvidia's stack is more learning-based versus rule-based, meaning cars don't need geofencing and can learn quicker. It's like an Android operating system for cars - OEMs can produce their own versions.
How much are we being surprised in 2026 as evidenced by moving stocks?
Anna
Ben Barringer
Memory piece is interesting because AI models remembering conversations requires more DRAM for inference and storage long-term. Memory stocks performing well due to strong demand and limited supply.
Where are you comfortable with tech valuations?
Tom
Ben Barringer
Nvidia at 24 times with 30-35% growth in 2026 and 10-15% in 2027 feels comfortable. Underlying growth is still there.