JPMorgan Expects Further Upside for NVIDIA (NVDA) Despite Supply Constraints

Core Insights - NVIDIA Corporation is gaining attention on Wall Street, with JPMorgan analyst Harlan Sur reiterating an Overweight rating and a price target of $215.00 following a meeting focused on its Data Center business [1]. Group 1: Demand and Supply Dynamics - Demand for NVIDIA's data center products continues to outpace supply, resulting in lead times that are stretched but stable, measured in "quarters, not months" [2][3]. - The ramp-up of Blackwell Ultra chips in the fiscal second quarter has not significantly altered lead times, indicating sustained demand exceeding supply more than two years into the AI spending cycle [3]. Group 2: Future Growth Expectations - NVIDIA expects growth to continue beyond calendar year 2025, with confirmation that the upcoming Vera Rubin platform is on track for a C2H26 launch, having all six chips already taped out at TSMC [3].