Nvidia's New AI Chip Seeing Skyrocketing Demand, Potentially Bringing Over $50 Billion Revenue in 2024
• Nvidia's H100 AI chip is seeing massive demand, with waiting lists up to 12 months long. Revenue from the H100 could reach $50 billion in 2024.
• Total H100 shipments in 2024 estimated at 2 million units, potentially bringing in over $50 billion revenue for Nvidia.
• If H100 shipments jump 150% as analysts expect, Nvidia could ship 3.75 million units in 2024, translating to over $93 billion revenue from one product.
• Nvidia stock currently trades at attractive forward P/E of 25 and forward P/S of 13 compared to historical averages of 42 and 20 respectively.
• Consensus forecasts predict Nvidia's earnings growing 102% annually over next 5 years, much faster than its 48% growth rate over past 5 years. Stock has low PEG ratio of 0.5.