Nvidia is expected to report stronger-than-anticipated quarterly sales next week after Citi raised its revenue forecasts on improved shipments of AI networking components and the continued ramp-up of Blackwell chips. Citi forecasts July-quarter revenue of about $93 billion, roughly $1 billion above the Wall Street estimate, and October-quarter revenue of $105 billion, about $1.5 billion above consensus and a 13% sequential increase. The brokerage maintained its Buy rating and $300 price target while reducing its valuation multiple assumption for projected calendar 2027 earnings to 24 times from 28 times, citing lower broader market multiples. It expects data-center revenue to grow 15% sequentially in July and 14% in October, ahead of Street expectations for 13% growth in both periods. Faster-than-expected shipments of 1.6-terabit transceivers also suggest an initial ramp of Nvidia's next-generation Vera Rubin platform. Citi said Nvidia appears to have secured sufficient high-bandwidth memory supply for 2026 and 2027, potentially supporting higher analyst estimates. It raised its fiscal 2027, 2028 and 2029 adjusted earnings-per-share forecasts by 1%, 2% and 2%, respectively. The brokerage also pointed to Nvidia's role in financing AI infrastructure through support for the Ohio PORTS-Pike campus, which includes land, power and shell construction for an initial 4.25 gigawatts of IT capacity. Citi said the arrangement could help AI labs and cloud providers ease near- to medium-term financing constraints as they expand computing capacity. It expects fiscal 2027 Blackwell GPU shipments to reach 7.7 million units, while reducing its Rubin estimate to 2 million units from 2.2 million because of tighter memory availability. Citi raised its fiscal 2028 total GPU unit estimate by 7%, reflecting a shift toward more servers with lower memory per chip.