Nvidia Rolls Out Vera-Rubin Supercomputer as Stock Loses 7% — Earnings Due in August

Nvidia's new Rubin+Vera supercomputer platform launches to cloud partners, but stock falls 7% as capital shifts from AI accelerators to memory chips. Analysts remain bullish, citing 85% market share.

Nvidia’s latest hardware breakthrough has landed at a time when its share price is heading in the opposite direction. The chipmaker unveiled its most powerful supercomputer platform yet at the ISC conference in Hamburg, combining Vera CPUs with Rubin GPUs. The system delivers the performance of the world’s largest supercomputers in a rack-sized form factor, with shipments to eight major cloud partners — including AWS, Azure and Google Cloud — set to begin this autumn.

Yet the stock closed last week at €168.80, shedding more than seven percent. That marks its worst weekly run in over a year, and puts it nearly 17 percent below the record high set in May. The sell-off has been driven by a pronounced sector rotation: speculative capital is flooding out of AI accelerator names and into memory-chip producers such as Micron. Analysts expect memory module prices to stay elevated into 2028, and every new Nvidia chip generation demands more storage capacity — a dynamic that is benefiting rivals more directly than Nvidia itself.

Goldman Sachs strategists describe the shift as a clear rotation within the broader AI rally. But the fundamental weight of Nvidia within the index remains enormous: together with Micron, the company is forecast to deliver roughly a third of all S&P 500 earnings growth this year. In fiscal 2026, Nvidia’s revenue surged to nearly $216 billion and net income climbed to $120 billion. The first quarter of the current fiscal year added $81.6 billion in revenue, up 85 percent year on year.

The analyst community has largely shrugged off the recent share price weakness. Of 62 experts covering the stock, the vast majority rate it a buy, with an average price target close to $299. Morgan Stanley reiterated its overweight stance and a $288 target, pointing to Nvidia’s stable ~85 percent market share in AI accelerators. Current valuations, they argue, look cheap relative to peers.

Technically, the stock is now testing important support. The 200-day moving average sits at €163.66, and the relative strength index has fallen to 38.2 — a level that signals the shares are nearing oversold territory. The next decisive catalyst comes on August 26, 2026, when Nvidia reports quarterly earnings. Analysts expect revenue of roughly $92 billion, and the numbers will need to confirm that the company’s operating momentum can overcome the market’s growing anxiety over the scale of AI investment.

Meanwhile, Nvidia continues to extend its European footprint. Thirty-five new AI supercomputers are under construction across 23 European countries. Germany’s Leibniz Supercomputing Centre has already committed to deploying the Rubin architecture in 2027. The new platform’s memory standard triples bandwidth per GPU and sharply reduces the cost of AI calculations. Whether those technical leaps translate into a share price recovery will depend on the concrete orders that begin flowing in the second half of the year, when the cloud giants start installing Rubin systems.