Nvidia’s Vera Rubin Is Now in Full Production — But the Real Prize Is the Server CPU
Published on 07/22/2026 at 21:03 | Redaktion boerse-global.de
Nvidia’s latest chip generation has officially moved from announcement to assembly line, and the market is taking notice. Shares in the semiconductor giant climbed 2.94 percent on Wednesday to €187.22 in European trading, bringing the stock within striking distance of its 52-week high of €202.50 set back in May. The move came as the company confirmed that its Vera Rubin architecture has entered mass production, with initial systems already shipping to major data center operators.
The production ramp was announced Tuesday by Ian Buck, Nvidia’s vice president for hyperscale and HPC, who described the rollout as a live mass-production run with early customers already taking delivery. That timeline was underscored by a concrete commitment from OpenAI, which plans to deploy Vera Rubin systems at scale starting in the third quarter of 2026 — part of a broader partnership the two companies inked late last year. Google Cloud, Microsoft Azure, and Oracle Cloud Infrastructure are also among the early adopters.
But the real story here isn’t just that Nvidia is shipping another GPU generation. It’s that the Vera Rubin platform comes with a built-in CPU — Nvidia’s own ARM-based Vera processor — and that marks a direct assault on a market long dominated by Intel and AMD. The company already commands more than 90 percent of the market for AI graphics chips, but the server CPU push is a fundamentally different kind of challenge. If hyperscalers embrace the integrated Vera Rubin platform, Nvidia opens an entirely new revenue stream. If they stick with modular racks running x86 processors from the competition, the growth ceiling becomes far more visible.
Early benchmarks suggest the technical case is compelling. Cloud partner CoreWeave reported that the Vera Rubin NVL72 platform delivers roughly ten times the token throughput per megawatt on the DeepSeek-R1 model compared with the previous Grace Blackwell architecture. That kind of efficiency gain matters in an industry where power consumption has become the binding constraint on new AI factories. Nvidia itself claims its Vera CPU runs Python code up to 1.8 times faster than AMD’s competing Epyc Turin processor.
Should investors sell immediately? Or is it worth buying Nvidia?
Some analysts see a classic Jevons paradox at work here: as the cost per AI workload falls, total demand could actually rise rather than contract. The DZ Bank’s Ingo Wermann reiterated a $275 price target on Wednesday, pointing to Nvidia’s long-term potential in physical AI and humanoid robotics as well. Zacks Research upgraded the stock to “Strong Buy” on July 22, citing solid fundamentals, while the broader analyst consensus pegs a target of €264.89 — implying roughly 41 percent upside from current levels.
The bullish case is not without its counterpoints. TSMC, Nvidia’s key manufacturing partner, reported strong quarterly numbers recently but saw its own stock fall 5 percent afterward — a sign that the market is beginning to question whether the current pace of AI infrastructure spending is sustainable. Adding to the pressure, TSMC plans price increases of up to 10 percent starting in 2027, which would directly squeeze Nvidia’s hardware margins. On the competitive front, AMD is not standing still: it has secured a significant AI compute deal with Anthropic and is offering its Helios rack systems to major customers like Microsoft Azure, giving hyperscalers a credible alternative if they want to avoid single-vendor dependency.
Chart watchers note that the stock currently sits 3.19 percent above its 50-day moving average of €181.43, with a relative strength index of 58.6 — neither overbought nor oversold. But it remains 7.48 percent below that May high, and any sign of softening demand could trigger a test of the 50-day line or even the 200-day average at €165.90.
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Nvidia also used this week’s SIGGRAPH 2026 conference to unveil a new tool aimed at a very different problem: AI-generated video fakes. The Synthetic Video Detector, part of the NVIDIA AI for Media platform, processes 1080p video in just 22 milliseconds and returns a probability score. In internal tests on uncompressed footage, it achieved a detection rate of up to 92 percent. The company plans to integrate the technology into live broadcast workflows through partners like Wowza.
The next major catalyst comes on August 26, 2026, when Nvidia reports fiscal second-quarter results. Investors will be looking for the first hard data on Vera Rubin’s production ramp and, more importantly, early signs of demand for the Vera CPU in agent-based AI applications. That report should begin to answer the question that will define Nvidia’s next growth phase: whether the server CPU bet becomes a genuine pillar of the business or remains an interesting side project.
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