UBS Maintains Buy on NVIDIA, $175 Price Target

UBS analyst Timothy Arcuri reiterated a Buy rating and $175 price target on NVIDIA (NASDAQ: NVDA).

“Visibility to data center revenue doubling yet again? An area where we have received a few investor inbounds, but still seems somewhat overlooked is NVDA’s commentary on its pipeline.

The company noted on its FQ1:26 earnings call that it has visibility into “tens of gigawatts” of AI infrastructure projects in the “not too distant future”.

Assuming a “low case” pipeline of 20GW and NVDA’s stated range of ~$40-50B per GW, this puts its total revenue opportunity for this pipeline at a minium of ~$1T.

While the company did not specify a timeframe for this pipeline, based on our conversations, we believe these projects are likely to be rolled out over a 2-3 year period.

Using the average of this timeframe, this suggests the company may effectively have “visibility” to ~$400B/yr in data center revenue, or about 2x our $233B data center revenue estimate for C2026.”

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