BofA Raises Nvidia Target to $320 — Computex, Vera Rubin AI GPU, and Corning Partnership as Next Catalysts

Bank of America raised its Nvidia price target from $300 to $320, maintaining a Buy rating. Upcoming catalysts include the Vera Rubin next-gen AI GPU and a new CPU expected at Computex in early June, a potential increase in shareholder returns in H2, and a new multiyear optical connectivity partnership with Corning.

Bank of America raised its Nvidia (NVDA) price target from $300 to $320 on May 13, while maintaining a Buy rating. BofA also lifted its sales and EPS estimates for FY2028 (CY2027) and FY2029 (CY2028) — a medium-term revision that signals confidence in the durability of AI compute demand. The timing of the raise, just weeks before Computex, is notable.

Computex 2026: Vera Rubin and New CPU Expected

The nearest catalyst BofA flags is Computex in early June in Taipei. The market widely expects Nvidia to formally unveil the Vera Rubin next-gen AI GPU platform alongside a new CPU at the show. Vera Rubin is the successor to the current Blackwell architecture, designed to deliver another step-function improvement in AI training and inference performance.

Nvidia has used Computex as its annual hardware roadmap stage for several years, consistently resetting demand expectations upward. A strong showing this year — particularly if Vera Rubin timelines and performance specs are confirmed — could reset near-term concerns about AI data center spending peaking.

FY2028 and FY2029 Estimates Raised — Long-Term Confidence

The key signal in BofA's revision is not the near-term target raise — it is the lift to multi-year estimates. Raising FY2028 and FY2029 sales and EPS forecasts is a statement that the AI compute buildout is a multi-year structural trend, not a one-cycle event. BofA identified four specific catalysts behind the upgrade:

• Q1 FY2027 earnings — the quarterly benchmark for tracking AI infrastructure demand
• Computex 2026 — Vera Rubin AI GPU + new CPU announcement
• H2 shareholder return potential — increased buybacks and dividend
• Continued AI compute demand — breadth of portfolio serving every AI workload niche

Corning Partnership: Optical Connectivity for U.S. AI Infrastructure

Separately from the Computex calendar, Nvidia announced a multiyear commercial and technology partnership with Corning (GLW). The focus is on expanding U.S.-based manufacturing of optical connectivity products used in next-generation AI infrastructure. The move aligns with the Trump administration's onshoring push while addressing a critical supply chain need: high-bandwidth optical interconnects between GPU clusters in AI data centers.

Optical connectivity delivers substantially higher bandwidth than copper cabling at scale — essential for the massive parallelism required by frontier AI training runs. Corning is the world's leading optical fiber and components manufacturer. The partnership signals Nvidia is extending its influence beyond chip design to the full AI data center stack.

The Broad Portfolio Moat

Nvidia's positioning with its breadth of portfolio caters to every niche of the AI workload.

Bank of America Research

BofA specifically highlighted Nvidia's ability to address the full range of AI workloads as a key competitive differentiator. From GPU-based training to inference, edge computing, data center networking (InfiniBand and Ethernet), and software platforms (CUDA and NIM microservices), Nvidia's vertically integrated ecosystem creates a moat that competitors are years from replicating. That moat is the structural foundation for the multi-year estimate raises — not just the near-term hardware calendar.