Computex Takes

Following NVIDIA's Computex 2026 keynote, Deutsche Bank maintains a Hold rating, noting the company's aggressive expansion into server and PC CPUs via the Vera Rubin platform and RTX Spark superchip.

Key Takeaways

• 1.NVIDIA is aggressively expanding into the CPU market to complement its GPU leadership, targeting $20b in server CPU revenue in 2026.
• 2.The company announced the Vera Rubin platform is in full production with a supply chain twice the size of the previous Blackwell ramp.
• 3.NVIDIA is entering the AI PC market with the RTX Spark superchip, developed in collaboration with Microsoft for Windows AI PCs.

Table of Contents

• Computex takes
• DB Take: Expected but encouraging
• Valuation & Risks
• Appendix 1
• Important Disclosures
• Important Disclosures Required by U.S. Regulators
• Important Disclosures Required by Non-U.S. Regulators
• Analyst Certification
• Historical recommendations and target price
• Equity Rating and Dispersion Key
• Additional Information