Vera Rubin GPUs Dominate Nvidia's $4M AI Supercomputer Bill

Nvidia's AI supercomputer, VR200 NVL72, costs approximately $4 million to build. According to an HSBC estimated bill of materials, 70% of this cost goes towards Vera Rubin GPUs, excluding their high-bandwidth memory.

CEO Jensen Huang expects 70% revenue growth in fiscal 2028, with Vera Rubin accounting for about 20% of data center revenue in Q3. The company has already secured purchase orders from every major hyperscaler for Vera Rubin.

The VR200 BOM breakdown shows that Nvidia's silicon is still where the AI capex dollar lands, contrary to assumptions of a GPU market commoditization. The platform is expanding into CPUs, networking, and software around it.