KeyBanc Believes That NVIDIA Has “Effectively Canceled” The B100 Chip

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NVIDIA's Blackwell-related production woes are common knowledge by now. Today, a number of analysts have penned dedicated investment notes on NVIDIA's upcoming earnings, quantifying among other things the impact, if any, of the Blackwell node's delay on the GPU manufacturer's top-line and bottom-line metrics, and expounding on the mysterious absence of the B100 chip in the ongoing chatter.

Blackwell's Delays

We recently reported on the rumor that NVIDIA is facing issues in ramping up the production of its latest Blackwell AI GPUs. Specifically, as per unverified reports, the new architecture supposedly suffers from a design flaw related to its "interconnect" technique.

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Of course, an NVIDIA spokesperson denied any impression of a major upheaval in response to Wccftech's queries, noting:

Nonetheless, analysts are quickly incorporating a possible delay in Blackwell shipments in their thesis for the stock.

For instance, Rosenblatt noted today that the Blackwell production ramp-up is "really a 2025 volume dynamic" for NVIDIA.

Interestingly, Rosenblatt believes that any Blackwell-related weakness will be overcompensated by the H200 GPU's "mid-cycle kicker" unleashed by the "densification" efforts of hyperscalers that are deploying liquid-cooled racks of the Hopper GPU to eke out extra performance.

Consequently, Rosenblatt again reiterated its stock price target of $200 per share for NVIDIA today, which corresponds to a price-to-earnings (P/E) ratio of around 60x.

Has NVIDIA Effectively Canceled Its B100 GPU?

Of course, KeyBanc has penned an even more interesting note today by flagging the Blackwell architecture's performance issues based on a supply chain feedback, and the resulting need on the