“The I/O Fund is already tracking a 30% minimum difference between GB200 NVL72 orders and what the Street has estimated for next year. When adding that the DGX B200 systems will be priced 40% higher... it's possible to see about 70% upside next year for Nvidia.”

NVDA returned about 39% in 2025, closing the year at $186.27 from roughly $135 when the call was published, and its 2025 peak of just over $200 implied about 55% upside — short of the ~70% called for.