An annual architecture cadence—Blackwell now, Rubin shipping within fiscal 2027—forces competitors into a perpetual catch-up cycle. Each generation resets the performance frontier before rivals can close the gap, compounding NVIDIA's lead in training throughput and inference efficiency.
the thesis · admitted · the reason above is the thesis, not printed twice
no findingread · nothing bore on it
It held on this filing. No finding was written because nothing in it bore on the reason — the sentences it was read against are below.
the evidence · every sentence checkedthree sentences · whole, uncut
the claims it rests on · in our words, not the filing’s
We expect our Rubin platform to start shipping in the second half of fiscal year 2027