NVIDIA CEO Clarifies $500 Billion Revenue Claim for Blackwell and Rubin; Reality Shows Lower Projections

In a recent development, NVIDIA’s CEO, Jensen Huang, made an ambitious claim regarding revenue projections for the Blackwell and Rubin AI product lineups. However, these statements have been clarified by NVIDIA’s financial team, leading to new insights about the expected performance of these GPUs.

Jensen Huang’s Revenue Claim on Blackwell and Rubin AI GPUs Clarified

The NVIDIA GTC 2025 conference showcased numerous exciting announcements, but one standout moment came when Huang indicated that the Blackwell and Rubin lineups would significantly outperform the previous Hopper generation. He estimated a remarkable $500 billion in revenue from these product lines over the next five quarters, suggesting they would outsell Hopper by a factor of five. This initial declaration was met with skepticism, prompting a closer examination by NVIDIA’s finance team.

1) $NVDA financial team clarified those details yesterday evening to analysts. Jensen misspoke as mentioned here. If one took his statement literally, he said at least $500B next 5 quarters, but $500B is cumulative BW & Rubin over ~ 2 years thru end of C26 or ~ F27. His GTC slide… https://t.co/LWv0JTNXF9 pic.twitter.com/vvj1w1IeSI

— QF Research (@ResearchQf) October 29, 2025

NVIDIA later explained that the $500 billion figure mentioned by Huang pertains to the cumulative revenue expected from Blackwell and Rubin products over the span of 2025 to 2026. This calculation also takes into consideration revenues generated from networking products like NVIDIA’s InfiniBand and NVLink. Notably, 30% of projected shipments have already been fulfilled, contributing to around $100 billion in revenue generated by Blackwell products this month alone. Over the next five quarters, NVIDIA now expects a more conservative revenue estimate of $307 billion, which is notably lower than Huang’s initial projection.

NVIDIA circuit board with chips labeled T1W 2538 and U0964307V held in hands on stage. — NVIDIA’s Vera Rubin Superchip | Image Credits: NVIDIA

Despite the adjustment, this still marks a significant milestone for NVIDIA, especially considering the popularity of the Blackwell generation among clients due to its impressive performance and efficiency. The upcoming Rubin product is expected to play a vital role in enhancing compute capabilities, with Huang also revealing the Vera Rubin Superchip, which integrates ARM-based Vera CPUs along with Rubin chiplets.

As the Hopper generation lays the groundwork for the current wave of AI excitement, the anticipation surrounding both the Blackwell and Rubin AI lineups indicates that they are set to capitalize on the momentum established by their predecessors, bolstered by NVIDIA’s strategic insights.

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