Nvidia NASDAQ:NVDA shares fell about 1% on Thursday even after Citi said discussions with the chipmaker's investor relations team suggested its artificial intelligence product roadmap remains unchanged.
Nvidia indicated reports pointing to delays for its next-generation Kyber platform do not reflect its current plans. The company also said its NVLink architecture unveiled at Computex remains intact. Nvidia added that co-packaged optics, a networking technology designed to improve data transfer efficiency, is already in production with Spectrum-X, with broader customer adoption expected to be discussed later this year.
Nvidia said customers using its Feynman platform in 2028 will be able to choose between co-packaged optics and copper-based NVLink connections. The company also expects demand to remain strong across hyperscalers, AI labs, enterprises, sovereign customers and emerging cloud providers. Nvidia said both open-source and proprietary AI models are likely to play important roles in future deployments.
Citi also said Nvidia continues to target gross margins in the mid-70% range despite higher memory prices, supported by long-term supply agreements. The company reaffirmed plans to return 50% of cash flow to shareholders and said its recent $25 billion bond sale was intended to provide additional financial flexibility.