Citi: Nvidia's Revenue per GW Could Rise from $18B to $40B as AI Infrastructure Value Continues to Grow

Citi report notes that Nvidia added $150 billion to its share repurchase authorization, raising total buyback capacity to $235 billion through FY28, signaling confidence in AI-driven free cash flow growth. Meanwhile, the company is expanding from GPUs to AI security, software, and full-stack infrastructure, with revenue per GW expected to rise from $18 billion in the Hopper era to $40 billion in the Rubin era.