Jensen Huang Confirms Nvidia Revenue on Track to Hit $100B/Quarter and Rubin Ultra on Schedule in Morgan Stanley Roadshow

Quarterly Revenue Nearing $100 Billion

Huang confirmed that Nvidia's single-quarter revenue is approaching $100 billion and is expected to exceed that milestone within the near term . This trajectory is underpinned by concrete financial results:

• Record Q1 FY2027 revenue of $81.6 billion (quarter ended April 26, 2026), up 85% year-over-year .
• Q2 FY2027 guidance of approximately $91 billion (plus or minus 2%), which implies roughly 95% YoY growth .

These figures, reported in Nvidia's official Q1 FY2027 press release on May 20, 2026, show accelerating growth: revenue surged from $68.1 billion in Q4 FY2026 (up 73% YoY) to $81.6 billion in Q1 FY2027, a 20% sequential increase . The company is not assuming any data center compute revenue from China in its Q2 outlook, making the guidance even more notable .

Rubin Ultra Delay Rumors — Directly Refuted

Huang personally addressed market FUD (fear, uncertainty, doubt) regarding a potential delay of the Rubin Ultra platform. He categorically denied the rumors, confirming that Rubin Ultra will ship next year (2027) as planned . Per roadshow minutes cited by multiple sources, the company stated that recent stories claiming a Rubin Ultra slip are "not true" .

The roadshow also noted that while the form factor is changing — the Kyber rack is being replaced by a "better solution" — the schedule remains intact . This aligns with the company's long-stated roadmap: at CES 2026, Nvidia announced that the Rubin platform was in full production, with the Vera Rubin GPU on track for a second-half 2026 launch and the Rubin Ultra following in 2027 . At the GTC conference in March 2025, Huang had already set the expectation that Rubin Ultra would arrive in the second half of 2027 .

Supporting Financial Figures & Morgan Stanley Price Target

The table below summarizes the key figures discussed in the roadshow and supporting earnings reports:

Revenue Acceleration

Nvidia's $215.9 billion in full fiscal 2026 revenue represented a 65% year-over-year surge from $130.5 billion in FY2025 . The growth accelerated in Q1 FY2027, with revenue rising 85% YoY and 20% sequentially, driven by strong demand for the Blackwell architecture including GB372 systems from hyperscalers and frontier model builders . The Data Center segment alone reached a record $75.2 billion in Q1, up 92% YoY .

Morgan Stanley's Bullish Stance

Morgan Stanley analyst Joseph Moore raised the price target to $285 ahead of Q1 earnings in May 2026, citing an anticipated beat-and-raise and Nvidia's path to $1 trillion in combined Blackwell and Rubin revenue across calendar years 2025–2027 . After the earnings beat, the firm further raised the target to $288 per a follow-up roadshow note, maintaining an Overweight rating .

Morgan Stanley's confidence is rooted in Nvidia's accelerating growth trajectory and the reaffirmed roadmap. As analyst Moore highlighted, consensus estimates for total datacenter revenue over 2026–2027 stood at $785 billion, while Morgan Stanley's updated forecast reached $884 billion .

Key Caveat

The roadshow was a private non-deal event. The most detailed public summaries come from financial news aggregators citing Morgan Stanley's distributed minutes, not a direct transcript . The core claims — revenue on track to exceed $100B/quarter and Rubin Ultra on schedule — are consistent across multiple independent summaries published July 12, 2026 . These are further supported by Nvidia's official SEC filings and press releases reporting the Q1 FY2027 financial results .