NEW YORK, June 30, 2026, 05:03 EDT
- Nvidia was changing hands at $194.97 ahead of the regular Nasdaq session, which put its market cap close to $4.76 trillion.
- Firmus is targeting 170,000 accelerators for Batam, which, on the company’s numbers, suggests six-year customer offtake per accelerator is in the $147,000 to $176,000 range.
- The read-through is key as AI investors move from just watching headline capex to looking at how much cash each powered GPU campus is generating.
NVIDIA Corporation NASDAQ:NVDA traded around $194.97 early Tuesday in New York, up $2.36 from its last close, the latest quote showed. The chipmaker was valued at roughly $4.76 trillion. Nasdaq stocks trade from 9:30 a.m. to 4:00 p.m. ET, with pre-market hours running 4:00 a.m. to 9:30 a.m. June 30 doesn’t appear as a 2026 Nasdaq market holiday.
The real news for the stock is not only that Firmus Technologies wants to buy Nvidia systems. It’s about how much money each compute unit could bring in. Firmus said it’s signed a strategic compute deal with Nvidia running to 2034, anchored by a 360-megawatt Nvidia DSX AI Factory in Batam, Indonesia. The campus could have as many as 170,000 Nvidia AI accelerators—Grace-Blackwell, Vera-Rubin, and Vera models—by 2027 and 2028.
Firmus expects to see between $25 billion and $30 billion from customer offtake deals in the first six years of the partnership. Divided out, that’s around $147,000 to $176,000 in six-year contracted offtake per Nvidia accelerator, or about $69 million to $83 million for each megawatt of campus capacity. This number is not the same as Nvidia’s revenue. It’s a signal of demand for cloud services running on Nvidia hardware.
| Firmus-Nvidia item | Reported figure | Simple investor read-through |
|---|---|---|
| Batam campus capacity | 360 MW | Roughly 472 accelerators per MW |
| Planned Nvidia accelerators | Up to 170,000 | Units set to deliver in 2027 and 2028 |
| Six-year committed offtake | $25 bln-$30 bln | Works out to $147,000-$176,000 each |
| Nvidia Q1 FY2027 data-center revenue | $75.2 bln | Firmus deal is 33%-40% of a recent Nvidia quarterly data-center total, but stretched over six years and at Firmus |
Nvidia isn’t just selling chips to Firmus under this deal. Firmus said its setup lets it offer cloud services powered by Nvidia, with Nvidia booking its usual hardware revenue and also getting a cut of cloud revenue tied to usage. That means the Batam site will serve as a test for whether Nvidia can tack on recurring, usage-based economics to its AI factory play.
“AI-Native companies need scalable and efficient compute infrastructure that keeps energy use and costs down,” Firmus co-CEO Tim Rosenfield said in a statement from the company. firmus.co
The stock reaction outweighs the daily swing now. A 1% shift in Nvidia is about $47.6 billion in market cap based on the latest numbers. With the quoted $2.36 gain, that’s nearly $57.6 billion in value, using the same share count.
| Latest quoted move | Price | Change | Implied market read |
|---|---|---|---|
| Nvidia NASDAQ:NVDA | $194.97 | +1.23% | $4.76 trillion market value |
| Invesco QQQ Trust NASDAQ:QQQ | $724.08 | +2.49% | QQQ climbed more than Nvidia |
| VanEck Semiconductor ETF (NASDAQ:SMH) | $631.98 | +3.32% | Semis moved past Nvidia |
| Advanced Micro Devices NASDAQ:AMD | $539.49 | +3.43% | AI-chip rival beat Nvidia’s gain |
| Broadcom NASDAQ:AVGO | $372.45 | +2.12% | Broadcom up as well |
Nvidia’s lead over the rest of the chip sector has narrowed as traders look for AI hardware exposure beyond just Nvidia after a rough week. Advanced Micro Devices Inc. NASDAQ:AMD, Broadcom Inc. NASDAQ:AVGO, and the VanEck Semiconductor ETF logged bigger percentage gains than Nvidia, based on the latest available numbers.
The Philadelphia Semiconductor Index is up 87% this year, Reuters said Monday. The Mag 7 group, including Nvidia, Apple Inc. NASDAQ:AAPL and Alphabet Inc. NASDAQ:GOOGL, is down for the year. “AI is working for the providers,” Jake Dollarhide, chief executive of Longbow Asset Management, told Reuters. “It is not working for the spenders.” Reuters
Nvidia’s core business is still far bigger than the Firmus numbers. The company posted fiscal Q1 revenue of $81.6 billion, up 85% year over year. Data-center revenue hit $75.2 billion, up 92%. Nvidia guided for fiscal Q2 revenue of $91.0 billion, give or take 2%, and said it’s not including any data-center compute sales from China in that forecast.
Investors may push for more evidence, like the Firmus offtake numbers, to justify bets. The Bank for International Settlements said in its annual report that if AI returns fall short, it could sour financing and flip the current capex surge into a bust, Reuters said.
