Rubin chips won’t ship until next year, but expectations are sky-high. Analysts project Nvidia’s data center revenue to hit $237 billion by fiscal 2027, doubling its current size. By 2029, it could surpass $300 billion, growing at an average 30% annual rate, a staggering climb for a business that’s already surged sevenfold in two years.

Nvidia has had an un-Nvidia-like year so far. The stock has fallen over 10% as investors fret over exposure to China in Trump’s trade war and the possible overbuilding of AI infrastructure. The company’s cautious outlook several weeks ago did little to ease worries.