NVDA — UBS PT RAISED TO 205 (FROM 175), BUY 🔸 UBS sees FQ2 revenue ~46B (~1B beat). 🔸 FQ3 guide: ~54–55B ex-China, up to ~57B incl. China. 🔸 Supply chain checks suggest compute +20–25% Q/Q (~+7–8B). 🔸 Networking revenue ~6B in FQ3 (up ~1B Q/Q) despite 800G shortages. 🔸 UBS expects data center revenue ~49B in FQ3. 🔸 On China: some reusable H20 inventory + new Hopper wafer orders; UBS thinks a Blackwell China version possible if U.S. eases restrictions under rare earth deal.(*Walter Bloomberg)