Nvidia’s latest quarterly earnings, which showed $11 billion in Blackwell revenue, have effectively quieted the “noise” surrounding its supply chain, according to Barclays analyst Blayne Curtis. Despite earlier concerns about the ramp-up of the Blackwell architecture, Curtis expressed optimism following the earnings release.
Curtis highlighted that the supply chain appears to be stabilizing, with no indications of demand issues on the horizon. The analyst also pointed to Nvidia’s upcoming annual GTC event, scheduled for next month, which could further bolster confidence in the company’s AI capabilities, particularly in the area of inference.
While Curtis noted a slight dip in gross margins and ongoing weakness in the networking business, he largely viewed these as the result of Nvidia’s ongoing transition to Blackwell. In his assessment, there wasn’t much negative to address in the earnings report, indicating that Nvidia is on track for continued growth despite these transitional challenges.
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