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NVIDIA: Kyber NVL144 Dispute Weighs on the Stock

NVIDIA shares found themselves at the centre of debate over the future of the Kyber NVL144 system. On 6 July, CNBC, citing research firm SemiAnalysis, reported that the project could be delayed by more than a year—from 2027 to 2028—due to manufacturing issues involving a specialised printed circuit board (PCB). NVIDIA firmly denied the claims, helping the stock recover more than 1%.

Sentiment was also supported by a Goldman Sachs note, which described NVIDIA's forward P/E ratio of 21.7 as attractive compared with its historical average (estimated by secondary sources at around 72). According to SemiAnalysis, a delay could provide competitors such as AMD and Google with a temporary opportunity to narrow the technology gap. However, the market's reaction suggests investors are, for now, placing greater confidence in NVIDIA's denial than in the reported production concerns.

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