NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) sits at the center of what CEO Jensen Huang calls “the buildout of AI factories, the largest infrastructure expansion in human history.”

Data Center revenue hit $75.25 billion in Q1 FY27, up 92% year over year. Yet shares are up just 13.11% year to date and trading at $210.69. Can NVIDIA reach $400 per share by 2029? The path exists, but it requires a specific sequence of events.

What’s Holding NVIDIA Back Right Now

Fundamentals are stellar. Shares are down 4.39% over the last month and sit 27% below the 52-week high of $236.26. Two factors weigh on sentiment. First, no H20 compute products shipped to China this quarter versus $4.6 billion in the…