Key facts: BofA Keeps NVIDIA $350 Target; Rubin Ultra HBM Cut - TradingView

Bank of America maintains its strong buy rating for NVIDIA (NVDA) with a $350 price target, citing the company's leadership in AI computing and networking. However, risks such as uneven AI deployment,... Read original →

NVIDIA’s decision to scale back Rubin Ultra’s HBM specs—dropping hybrid bonding and limiting to 12Hi stacks—reveals that advanced packaging costs and yields are now critical bottlenecks in AI chip scaling. This forces memory suppliers like SK Hynix and Micron to recalibrate HBM4 capacity plans and slows the commercial rollout of 2.5D/3D chiplet integration. Geopolitically, tightening U.S. export controls on high-end compute, combined with concentrated advanced packaging capacity in Taiwan, China, heighten NVIDIA’s supply chain fragility. Competitors AMD and Intel will aggressively push MI300X and Gaudi3 adoption, especially as cloud providers diversify AI accelerators. Over the next 12–24 months, the market enters a 'performance delivery phase': vendors failing to simultaneously optimize performance-per-watt and volume ramp risk marginalization. If NVIDIA can’t offset Rubin Ultra’s compromises through Blackwell successors, its AI dominance may face its first real crack.