NVIDIA Up Another 3.5% Premarket: Here’s Why It’s Skyrocketing Past $200 Per Share

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NVIDIA (Nasdaq: NVDA) shares jumped 4.98% yesterday, a fairly remarkable jump for a $4.9 trillion company that pushed NVIDIA shares past the $200 barrier. Yet, the gains weren't confined to just yesterday. In early morning trading, NVIDIA shares are up another 3.5% on October 29th.

That means NVIDIA is set to add more than $400 billion in market capitalization across just two days. Bears will say this level of gains for a company NVIDIA's size is just froth, but there's a very good reason NVIDIA is soaring in recent days. Yesterday at an event told GTC it served notice to Wall Street that sales could be better than any analyst on the Street is forecasting over the next 18 months.

Jensen Huang Predicts $500 Billion in SalesCanva

The picture above is from Jensen Huang's keynote at GTC, and it's what's driving returns the past couple of days. The part of this image that's so important is the bar chart that shows '2025-26 Blackwell-Rubin (So Far)' and tops out at $.5T+.

What this chart is showing is that NVIDIA has 'visibility' into more than $500 billion in sales by the end of calendar 2026 from its flagship line of GPUs. That's an astounding number because next quarter, Wall Street forecasts $61.2 billion in revenue. The next Fiscal Year (which has an extra month in January 2027), Wall Street forecasts $279 billion in revenue for the entire company.

There's some debate on Wall Street about whether the revenue from this picture accounts for five or six quarters; NVIDIA's CFO will need to clarify that with analysts across the coming days.

However, there's almost no debate that this chart is NVIDIA's way of letting Wall Street know that its estimates for the company are way too low.

Yesterday's gains will likely turn into a more extended rally as each bank incorporates this new data and raises their future projections and price targets on NVIDIA in the weeks to come.

There Were Signs This Was Coming

I host an AI Podcast named The AI Investor Podcast. On the latest episode - which you can find embedded below - I detailed how Wall Street price targets for EPS were raising to more than $11 per share in 2027.

Once again, I encourage you to watch the segment from our recent episode, but the bottom line is that these recent price target raises were likely from sell-side analysts seeing both third-party data and receiving indications from NVIDIA their models were underestimating the company's demand.

Maybe the signals NVIDIA was putting out to analysts were too subtle, because they decided to drop an absolute bomb with their $500 billion figure yesterday. As I noted earlier, my expectation is that NVIDIA should continue seeing strong gains in the weeks ahead as nearly every Wall Street bank will be forced to dramatically raise their price targets on the company.

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