NVIDIA is expected to ship 5.2 million units of its Blackwell AI GPUs this year, but that number will reportedly drop to 1.8 million units according to JP Morgan.
In a new post by insider @Jukanrosleve on X, investment firm JP Morgan is projecting NVIDIA to ship 5.2M Blackwell AI GPUs in 2025, dropping to 1.8M units in 2026, but that's because NVIDIA is projected to ship a larger 5.7M units of its next-gen Rubin AI GPUs and 1.5M units of its next-gen Vera CPUs.
JP Morgan notes that NVIDIA AI GPU shipments are not expected to grow in 2026, which is primarily due to conservative adjustments to Blackwell shipment forecasts. Jukan's post on X ends with: "that said, there is potential upside if the rollout of the Rubin platform accelerates or if the CoWoS-R packaging specifications for the Vera CPU are significantly expanded".
- Read more: SK hynix already pre-supplying HBM4 to NVIDIA for its next-gen Rubin AI GPUs
- Read more: NVIDIA's next-gen Rubin GPU, Vera CPU rumors: no delays, chips being moved up
- Read more: NVIDIA's next-gen Vera Rubin NVL576 AI server packs 576 Rubin AI GPUs
- Read more: NVIDIA GB300 AI GPU with 1.4kW power, new details on Rubin AI GPU, CPO tech
- Read more: NVIDIA's next-gen Rubin AI GPU rumored for 2H 2025: more AI domination with HBM4
In 2026, NVIDIA will face increased competition from AMD in the AI GPU department with its Instinct MI400 accelerators, which like its new Rubin AI GPUs, will feature next-gen HBM4 memory. Things will really heat up next year, but NVIDIA has complete dominance of the AI GPU field right now, which is why the company is shifting from Blackwell to Rubin so hard, so quickly... it doesn't want to lose steam, and we can't wait to see Rubin roll out onto the market.
