By Beth Kindig
Publication Date: 2026-03-27 00:00:00
Last week at GTC, Jensen Huang stated that Nvidia has a path to $1 trillion in cumulative sales across the Blackwell and Rubin generations from 2025 through 2027. If you follow Nvidia’s stock closely, this isn’t new information; rather it’s roughly aligned with what analyst forecasts already had baked in.
The distinction is crucial for investors as separating what’s already priced in from what can make a meaningful difference in stock returns. The latter typically offers alpha, while the other potentially sets up an investor for losses (hence the saying: “buy the rumor, sell the news”).
The math for Nvidia to see $1 Trillion in Revenue was already there.
We must go back to October to more fully understand why the statement that Nvidia has visibility to $1 trillion in revenue through 2027 is anti-climactic.
Last October, Huang stated that the combined revenue from Blackwell and Rubin was an estimated $500 billion through the end of 2026. Our firm modeled something similar nearly two years earlier, when my original Nvidia $10 trillion market cap thesis was published, stating we would see a $320 billion data center segment in 2026 (FY2027).
Beth Kindig of the I/O Fund first laid out the case for Nvidia reaching a $10 trillion market cap in June 2024 — a view Jensen Huang later expressed publicly in March 2026 nearly two years later.
Blackwell revenue was $184 billion in 2025 when you…