Nvidia Ploughs $2.5 Billion Into US and Asian Manufacturing as Blackwell Ramp Gathers Pace
Published on 07/25/2026 at 16:41 | Redaktion boerse-global.de
Nvidia has committed more than $2.5 billion in fresh manufacturing and infrastructure investments this week, underscoring the chipmaker’s push to lock down supply chains on two continents even as its shares drift further from record highs. The twin announcements — a $1.5 billion packaging partnership with Amkor Technology in Arizona and a $1 billion equity injection into South Korea’s Naver Corp — mark the most aggressive physical expansion of Nvidia’s production footprint since the AI boom began.
Amkor Deal Brings Advanced Packaging to Arizona
The larger of the two outlays sees Nvidia deepen its relationship with chip-packaging specialist Amkor Technology. The companies have expanded their existing collaboration on advanced semiconductor packaging and testing, with Nvidia making a cash prepayment to accelerate the build-out of domestic capacity. Amkor will develop next-generation packaging and test technologies for AI and high-performance computing chips at its Arizona facility.
UBS analyst Randy Abrams upgraded Amkor on the news, estimating the supplier has secured roughly 60 percent market share in Nvidia’s Vera CPU packaging work. Abrams also expects the partnership to broaden across Nvidia’s GB10 and N1X chip lines, as well as future products such as Rosa. The deal signals that Nvidia’s packaging needs — a critical bottleneck in chip production — are increasingly being met on US soil.
Korean Sovereign AI Project Targets 200 Megawatts
On the other side of the Pacific, Nvidia has invested $1 billion directly into Naver Corp as part of a broader plan to build out South Korea’s national AI infrastructure. The so-called “Sovereign AI” concept envisions locally controlled cloud computing capacity independent of global hyperscalers. Nvidia is working alongside Naver and infrastructure investor Brookfield to expand the GAK Sejong data centre from its current 55 megawatts to 200 megawatts by 2028.
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The facility will run on Nvidia’s DSX platform and support both the current Blackwell architecture and the forthcoming Vera-Rubin generation. Brookfield has signed a non-binding agreement to provide up to $9 billion in financing for the expansion. The project represents one of the largest single commitments to sovereign AI infrastructure outside China and the US.
Texas Factory Begins Blackwell Production
Separately, Nvidia’s manufacturing partner Wistron opened a new $700 million factory in Fort Worth, Texas, this week. The facility is the first US site to begin series production of the GB300 Grace Blackwell Ultra superchip, and has already been prepared for assembly of the next-generation Vera Rubin chip. Nvidia chief Jensen Huang described the plant as a central piece of what he called “the greatest infrastructure build in history,” highlighting the broader trend toward onshoring high-tech manufacturing.
The Texas and Arizona investments together give Nvidia a meaningful US production base for the first time, reducing reliance on Asian foundries for final assembly and packaging of its most advanced chips.
Product Mix Shifts as Rubin Slips
Industry data suggests Nvidia’s product lineup is undergoing a shift for the remainder of 2026. The Blackwell series is expected to account for roughly 71 percent of high-end GPU shipments, up from a prior estimate of 61 percent, driven by strong demand for integrated rack solutions such as the GB300. The Vera Rubin platform, meanwhile, has slipped slightly: analysts cite validation issues with HBM4 memory and the technical transition to new network interconnects. Rubin’s share of shipments for the current fiscal year has been revised down to 22 percent from 29 percent.
Despite the delay, Nvidia’s overall order book remains robust. The company carries $119 billion in delivery commitments, underpinning its revenue outlook.
Growth Debate Intensifies as Shares Stall
Nvidia shares closed at €182.00 on Friday, down 0.8 percent on the day but up 2.7 percent for the week. The stock sits roughly 10 percent below its May record high of €202.50, and has gained 13.55 percent year to date — a pace that has drawn scrutiny after three years of explosive growth.
The deceleration has prompted debate about whether Nvidia’s best days are behind it. The company reported record revenue of $81.6 billion in the first quarter of fiscal 2027, up 85 percent year on year. But Wall Street now expects revenue growth of 219 percent between fiscal 2026 and 2029 — a sharp slowdown from the 700 percent expansion of the preceding three years.
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Analysts also point to structural risks. Major cloud customers including Amazon, Microsoft, Google and Meta are developing their own chips, seeking to reduce dependence on Nvidia’s graphics processors. While current demand remains high, the long-term threat is real: Nvidia’s biggest clients are actively building exit strategies.
China Loosens Slightly, But Remains a Wild Card
US export controls continue to constrain Nvidia’s China business, though there have been recent openings. US authorities have confirmed that Nvidia is now shipping limited quantities of its H200 AI chip to Chinese customers, including Alibaba, Tencent, ByteDance and ZTE. Reuters reported that Chinese buyers had previously expressed interest in more than two million H200 units at roughly $27,000 each. Nvidia’s current guidance excludes China data-centre revenue entirely, meaning any recovery there would represent upside rather than a reversal of expectations.
What Investors Are Watching Next
Nvidia’s next quarterly results are due in late August. Investors will be looking for updates on the Korean sovereign AI project, the ramp of Blackwell production in Texas, and the progress of the Amkor packaging partnership. In the meantime, the upcoming earnings reports from Microsoft, Meta, Amazon and Alphabet will provide the clearest signal yet on whether hyperscaler AI investment commitments are translating into actual chip orders.
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