NVIDIA Corporation (NVDA)

In the Bull scenario, continuous agentic AI inference token demand inflects faster than forecasted, driving neocloud installed capacity above 8 GW and accelerating sovereign and enterprise AI cluster investments. Revenue growth sustains at triple-digit rates in FY2027 before delivering 82.9% growth in FY2028, supported by rapid customer adoption of Vera Rubin systems. Operating margins expand toward 76-78% as high-margin proprietary software licensing attaches to NVL rack systems, driving diluted EPS compounding well above consensus targets and supporting intrinsic value reaching $586.75.

• Revenue growth of 100% in FY2027 and 82.9% in FY2028
• Operating margin expanding to 78.0% in Year 1 and 76.6% in Year 2
• Vera Rubin architecture reaches over 25% of datacenter mix ahead of schedule
• Reinvestment rates scale efficiently between 2.0% and 2.9%