By Vuk Zdinjak
Publication Date: 2026-03-18 17:33:00
Nvidia (NVDA) stock has gained about 53% over the past year, at the time of writing, Tuesday afternoon, March 17, according to Yahoo Finance. Meanwhile, the SPDR S&P 500 index (SPY) is up about 18% in the same period.
While the stock has performed well in the long term, today’s performance is a little bit disappointing. The stock is slightly down (0.04%) at the moment. You may think it is not a big deal, but Nvidia’s GPU Technology Conference (GTC) is ongoing.
The company announced many new things, including the forecast that the revenue opportunity for its AI chips may reach $1 trillion or more through 2027, as reported by Reuters.
The likeliest explanation for this unimpressed market reaction is that revenue opportunity heavily depends on hyperscalers. We have to wait for hyperscalers to announce their capital expenditure plans for 2027 before we can conclude that the revenue opportunity is real.
The problem here is that most hyperscalers have already had to raise debt to fund their 2026 spending plans, which is why the sentiment is that the same spending pace will not continue in 2027.
The most important and somewhat shocking announcement from GTC is the Nvidia Groq 3 LPX accelerator. The shocking part is that Nvidia licensed Groq technology in December 2025 and is already launching new chips.
I’ve analyzed this deal in my article “What’s next for…
