Citi reiterates Nvidia buy rating at $300 target as analysts move to quash product delay rumors

Citi wants Nvidia investors to take a breath. The bank’s semiconductor analyst Atif Malik has reiterated a Buy rating on Nvidia with a $300 price target after speaking directly with the company’s investor relations team on July 9-10, confirming that the chipmaker’s product roadmap is, in Malik’s words, “fully intact.”

The move was a calculated one. Rumors had been swirling about potential delays in Nvidia’s NVLink and optics plans, the kind of whisper campaign that can shave billions off a market cap before lunch. Citi decided to go straight to the source rather than let speculation fester.

What the Citi call actually confirmed

Malik emphasized that nothing has changed since Nvidia’s Computex presentations. The company’s AI infrastructure demand remains robust, gross margins are holding steady, and the product pipeline is moving on schedule.

A $20 billion bond sale says more than any analyst note

Perhaps the more telling signal from Nvidia isn’t what Citi said but what Nvidia itself is doing. The company has initiated plans for a $20 billion bond issuance, its first trip to the debt markets since 2021. The proceeds are earmarked for AI-related capital expenditures.

The crypto connection: miners pivot to AI

Bitcoin mining firms have reportedly signed multi-year equipment agreements with Nvidia to support AI cloud services. The logic is straightforward. Mining operations already have the power infrastructure, cooling systems, and technical expertise to run GPU-dense data centers. Pivoting some of that capacity toward AI inference and training workloads is a natural extension, and a potentially more profitable one.

This shift has implications for the crypto market that go beyond hardware procurement. When miners diversify their revenue streams into AI services, they become more financially resilient. That resilience means they’re less likely to dump Bitcoin during price downturns to cover operating costs, a dynamic that has historically amplified crypto selloffs.

For the decentralized computing space specifically, Nvidia’s continued dominance in GPU technology sets the performance benchmark that protocols like Render, Akash, and io.net are building around. When Nvidia confirms its next-generation interconnect and optics plans are on schedule, it’s also confirming the hardware foundation that decentralized GPU networks depend on.