Nvidia (NVDA) is likely to roll out "tens of gigawatts" of artificial intelligence infrastructure projects over a period of two to three years, UBS Securities said in a note Monday.
UBS said it based the timeframe on its conversations, as the company didn't provide a specific one for the pipeline on its fiscal Q1 earnings call last week.
The total revenue opportunity for the pipeline is at least $1 trillion, assuming a "low case" pipeline of 20 GW and the company's stated range of about $40 billion to $50 billion per GW, the firm said.
"We believe investor concerns around growth sustainability should be allayed by some of this commentary from the earnings call," the firm said.
UBS maintained the company's buy rating and $175 price target.
Nvidia shares rose over 3% in recent Tuesday trading.
Price: 141.46, Change: +4.08, Percent Change: +2.97
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