Nvidia Blackwell Chip Entered Mass Production

Morgan Stanley’s latest report states that Nvidia’s latest AI chip, Blackwell, has started mass production and may generate $10 billion in revenue in the fourth quarter of this year.

The report points out that Nvidia is still addressing some technical challenges with the GB200 server. However, Wall Street investment banks still consider these issues as part of the “normal debugging process” for new product releases. Blackwell GPUs enter the mass production stage. As a result, the demand from major customers will bring significant revenue growth momentum to Nvidia. And maybe Blackwell chip shipments will reach 450000 units in the fourth quarter of this year.

At present, the demand for Nvidia AI chips is very healthy, thanks to the continued expansion of production capacity by AI major customers and small cloud service providers, and even the increasing demand for H200 with Hopper architecture from smaller customers.

However, it is worth noting that there have been recent rumors. The United States may impose additional restrictions in its review of semiconductor export control policies in October. What’s more, it ncludes a decision to ban the export of Nvidia H20 chips to China. If a ban is imposed on the H20 chip, Nvidia may lose up to $12 billion in revenue in China. Also, it may have a significant impact on its sustained development in the Chinese market.