Morgan Stanley analysts in their recent forecast, as noted by Tom’s Hardware, predict Nvidia’s ability to release 450,000 Blackwell-generation computing accelerators by the end of the fourth quarter of this year. This will allow the company to earn more than $10 billion from their sales.
Image source: NVIDIA
Actual revenue could be even higher, as the reported revenue-to-production ratio implies an average cost per accelerator of $22,000, which is lower than the $70,000 expected for each Blackwell accelerator. One way or another, NVL36 server racks will consist of 36 B200 accelerators, which will raise the cost of each to at least $1.8 million. The NVL72 rack will contain 72 B200 accelerators, its cost will exceed $3 million.
Selling ready-made server systems to customers provides higher added value, but the calculation of the price of $22,000 per accelerator is based on the cost of the GPU itself, which requires additional components for its operation in real conditions. Nvidia officials said last month that the company expects to generate several billion dollars in revenue from shipments of Blackwell accelerators in the company’s fourth fiscal quarter, which begins in late October. Against this background, Morgan Stanley’s forecast looks somewhat more optimistic. Nvidia’s ability to scale its supply of Blackwell accelerators will be constrained by its partners’ ability to supply it with everything it needs, including TSMC’s CoWoS-L packaging services.