Nvidia Still Sets Cadence

Nvidia is still setting the pace in artificial-intelligence chips, with Wall Street backing Blackwell demand even as Advanced Micro Devices lines up a stronger 2026 challenge. (ibtimes.com.au) Nvidia reported fiscal 2026 revenue of $215.9 billion and data-center revenue of $194 billion, then guided the next quarter to about $78 billion in sales. In the quarter ended January 25, 2026, data-center revenue reached $62.3 billion, up 75% from a year earlier. (investor.nvidia.com) On Nvidia’s February 25, 2026 earnings call, management said Blackwell and Blackwell Ultra systems drove the latest data-center jump and said purchase commitments rose to cover demand into 2027. The same call said gross margin reached 75% as Blackwell ramped. (fool.com) Artificial-intelligence accelerators are the processors that train and run large models inside data centers, and cloud companies buy them by the rack. Nvidia still controls most of that market, with analyst estimates in recent coverage putting its share near 80% to 92%. (ibtimes.com.au) That lead is tied to more than the chip itself. Nvidia’s CUDA software tools remain the standard system many developers already use, which makes switching costs high even when rivals offer competitive hardware. (ibtimes.com.au) The spending behind this race is coming from the biggest cloud buyers. International Business Times Australia said Microsoft, Amazon, Google and Meta are expected to spend a combined $650 billion to $700 billion on infrastructure in 2026, and CNBC reported in February that the four hyperscalers were heading toward close to $700 billion in capital spending this year. (ibtimes.com.au) (cnbc.com) Advanced Micro Devices is the clearest near-term challenger. AMD reported record 2025 data-center revenue of $16.6 billion, up 32% year over year, and its investor site lists new partnerships with Meta, Nutanix and Tata Consultancy Services tied to its artificial-intelligence push. (ir.amd.com 1) (ir.amd.com 2) S&P Global Market Intelligence said on March 17, 2026 that AMD plans to launch its MI400-series accelerators in the second half of 2026. Visible Alpha consensus in that report projected AMD data-center revenue rising 73% to $28.7 billion in 2026, with MI400 revenue around $7.2 billion. (spglobal.com) Wall Street is still leaning heavily toward Nvidia in the near term. International Business Times Australia said Nvidia closed at about $188.63 on April 10, 2026, with most analysts rating the stock Buy or Strong Buy and average 12-month price targets around $264 to $275. (ibtimes.com.au) The next test is whether Nvidia can keep turning Blackwell shipments into revenue faster than AMD can turn MI400 launches into share gains. For now, the market is treating 2026 as a widening contest, not a change in the leader. (investor.nvidia.com) (spglobal.com)