JPMorgan analyst Harlan Sur has reiterated a Buy rating and $215 price target on Nvidia (NVDA). The bullish rating follows an investor meeting hosted with Toshiya Hari, Nvidia’s VP of Investor Relations and Strategic Finance. The five-star analyst remains optimistic about the chipmaker’s long-term growth, especially in its Data Center business amid the ongoing AI boom.
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Demand Still Outpaces Supply
The analyst noted that even after two years of AI investment, demand for Nvidia’s chips still exceeds supply. Also, lead time is long but stable and is measured “in quarters, not months,” which points to robust demand.
Further, Sur highlighted that Nvidia’s latest AI chip, Blackwell Ultra (BWU), is scaling quickly, already making up about 50% of Blackwell shipments in fiscal Q2. Despite this ramp-up, the analyst said that supply constraints have not eased, reflecting the strong market appetite.
Vera Rubin Platform on Track for Late 2026
Looking ahead, Nvidia confirmed that its next-gen Vera Rubin platform, a six-chip system built for advanced AI workloads, is on track for a second-half 2026 launch. The company said all six chips have already been taped out at TSMC (TSM), putting to rest recent concerns of a potential delay.
This clarity around the platform’s rollout adds to Sur’s bullish outlook. He noted that Nvidia’s ability to launch new products on schedule, manage supply constraints, and maintain pricing power helps build confidence in its growth potential through the next year.
Is NVDA a Strong Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on NVDA stock based on 34 Buys, three Holds, and one Sell assigned in the past three months. Further, the average NVDA price target of $211.36 per share implies 23.64% upside potential.
