Jensen Huang uvedl, že Nvidia očekává ve fiskálním roce 2028 růst tržeb asi o 70 %, což by znamenalo téměř 700 miliard USD. Firma ale říká, že poptávku dál omezuje nedostatečná nabídka komponent.
Historically, September has been a difficult month for Wall Street. The S&P 500 has fallen by an average of about 1.1% during the month from 1926 through 2024. Yet Nvidia (NVDA +0.84%) stock has gained ground in seven of the past 10 Septembers, with a median return of about 1.5%. Hence, while the September Effect may offer a reason for some caution around the overall stock market, it hasn't been such a negative indicator for Nvidia's stock.
And recently, CEO Jensen Huang also gave investors a potentially more important signal. He said Nvidia expects revenue to grow about 70% in its fiscal 2028, which begins Jan 31, 2027. But management says even that forecast doesn't reflect the full scope of demand for its offerings; it's constrained by the limited supply of components required to build its artificial intelligence (AI) platforms.
Nvidia CEO Jensen Huang. Image source: Nvidia.
Nvidia's visibility into future demand is sharpening In its fiscal 2027 second quarter (which ended July 26), Nvidia's revenue soared by 106% year over year to $96.2 billion, including $89 billion in sales from the data center segment. However, management's long-term outlook was even more impressive.
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Wall Street analysts had previous expected the company to deliver fiscal 2028 revenue of about $570 billion, translating to growth of roughly 44%. Nvidia's guidance, however, implies revenue of close to $700 billion.
CEO Jensen Huang said that Nvidia has never offered revenue guidance for a full year in advance before. However, this time, the company has much better visibility into memory and manufacturing capacity, as well as the land, power, and data-center infrastructure needed to deploy its products. Some of this infrastructure needs to be secured two to three years in advance.
Supply constraints could limit Nvidia's fiscal 2028 growth CFO Colette Kress highlighted that customer forecasts currently indicate Nvidia's revenue may double next year. Huang also said Nvidia's revenue growth could be "a lot higher" if the company were not supply-constrained.
Nvidia exited the fiscal second quarter with $279 billion of supply and capacity commitments, up sequentially from $119 billion. These commitments are primarily related to memory purchases and manufacturing capacity. Of that total, $92 billion is scheduled for the rest of fiscal 2027, $87 billion for fiscal 2028, and $88 billion for fiscal 2029.
Nvidia's largest customers are also continuing to spend heavily on AI infrastructure. Amazon (AMZN -0.15%) Web Services plans to deploy another 2 million Nvidia GPUs in calendar years 2027 and 2028. Nvidia also expects the combined capital expenditures of the top five hyperscalers to approach $800 billion in 2026 and $1.3 trillion in 2027.
The demand trends look impressive, even when the company is not factoring any data center compute revenue from China into its current outlook. Hence, a meaningful recovery of its position in the Chinese market is not currently part of Nvidia's growth expectations.
Nvidia's revenue opportunity per AI data center is expanding Nvidia is also expanding its revenue opportunity from each gigawatt (power capacity) of AI infrastructure. Management estimates that this opportunity has increased from roughly $18 billion with Hopper GPUs to $25 billion with Blackwell systems and $40 billion with Vera Rubin systems. These increases are partly a result of the fact that Nvidia is selling more components of the overall AI system, including CPUs, GPUs, NVLink (Nvidia's high-speed technology for connecting GPUs and other processors), and other networking products. Hence, the company benefits not only from the construction of more AI data centers, but also because it is generating more revenue per gigawatt of new capacity deployed.
Increasing adoption of agentic AI could further drive demand for compute capacity. Huang said AI agents can require roughly 15 to 100 times more compute than direct human use of AI, depending on the task. These agents can also run continuously and interact with other agents. Hence, future demand for Nvidia's wares may increasingly depend on the actual use of AI applications rather than on the computing power required to train AI models.
Nvidia's growth outlook also comes with risks Nvidia, however, has warned that customer demand forecasts can prove inaccurate. Its customers may also delay purchases because of constraints related to data center infrastructure or capital availability. In such a scenario, Nvidia's large commitments to its own suppliers could result in higher costs.
Nvidia is also providing support for some large AI infrastructure projects. In August, the company agreed to provide guarantees of up to $105 billion for a data center project in Ohio. That campus will exclusively host Nvidia computing systems under 20-year leases to OpenAI. Huang also said AI labs for which Nvidia expects to use its balance sheet could account for roughly one-quarter of the company's business in fiscal 2028.
Rising memory costs could also pressure profitability. Nvidia expects its gross margins to fall from 75% in the fiscal second quarter to around 71% to 72% in the fiscal fourth quarter, before improving to around 72% to 73% in fiscal 2028. Management attributed much of this pressure to sharp increases in memory prices.
Nvidia's stock also faces near-term pressure. On Sept. 1, rising Treasury yields and oil prices pushed the Nasdaq Composite down by 1%. Besides these marketwide risks, Nvidia is also facing concerns about some of its AI financing arrangements. Its stock slipped by 1.5% during the session.
September could still bring volatility for Nvidia investors. However, it is obvious that Nvidia now has much greater visibility into demand several years ahead. If that visibility holds, short-term weaknesses could matter far less than the scale of the growth opportunity the company is preparing for.
SpaceX se zavázala, že veškerou budoucí AI výpočetní kapacitu bude stavět výhradně na hardware od Nvidie. To zvyšuje její rostoucí účet za výpočetní techniku i závislost na jediném dodavateli.
SpaceX (SPCX -1.20%) held its first earnings call as a publicly traded company on Aug. 4, and CEO Elon Musk used it to place the company's largest capital outlay, artificial intelligence (AI) computing, in the hands of a single supplier.
Musk said, "going forward, we've decided to build exclusively on Nvidia because we think the Vera Rubin architecture is the best architecture. We think it's the best AI computer, and we greatly value our close cooperation and partnership on many levels with Nvidia. So, we're exclusive to Nvidia."
Nvidia (NVDA +0.84%) shares closed up 3.4% the next day. Advanced Micro Devices, the closest alternative supplier of graphics processing units (GPUs) for AI, closed down 7% after reporting its own quarterly results that same afternoon.
Nvidia is also a shareholder, with about $21 billion in SpaceX shares at the end of June.
For SpaceX shareholders, the most interesting figure is the bill. What gets locked in by building it with a single supplier?
Image source: The White House.
How much computing capacity does Musk promise?SpaceX's capital expenditures were $18.4 billion in the second quarter, and $15.8 billion of that was allocated to AI computing infrastructure. The AI figure was $7.7 billion in the first quarter and $749 million a year earlier. In other words, the computing line item grew more than 20 times year over year and now absorbs 86 cents of every capital dollar.
CFO Bret Johnsen told analysts to expect the next two quarters to be "very similar to the current quarter" in terms of capital expenditures, probably about $37 billion more this year.
SpaceX ended June with 1.4 gigawatts of installed computing capacity, compared to 1 gigawatt in March and 0.4 gigawatts a year earlier. Musk expects the company to end 2026 with more than 2 gigawatts. And by the end of 2027, he said, the total "may, let's say, be closer to 10 gigawatts of compute than 5 gigawatts of compute."
Under its commitment, every gigawatt built from now on will use Nvidia hardware.
SpaceX has not filed any contractThe 10-Q SpaceX filed on the day of the conference does not mention Nvidia, nor has any subsequent filing.
What it does show is $28 billion in noncancelable purchase commitments at the end of June, of which $22.2 billion mature in 2027, described mostly as AI infrastructure, cloud capacity, and its spectrum purchase.
During the conference, when asked how much confidence he had regarding the chips, Musk said, "our understanding with NVIDIA is that we will receive a very significant percent of their GPUs next year."
Customer contracts, on the other hand, specify Nvidia chips, and I would argue they say more about SpaceX's tie to Nvidia than the commitment does. SpaceX's cloud service agreements with Anthropic cover about 325,000 Nvidia GPUs at $1.25 billion monthly through May 2029. Its agreement with Google, of Alphabet, covers about 110,000 Nvidia GPUs at $920 million monthly from October 2026 through June 2029. Each can be terminated with 90 days' notice after an initial period. And if SpaceX does not deliver the committed GPUs by Sept. 30, Google could walk away after a one-month grace period or pay only for the GPUs delivered.
So SpaceX has sold Nvidia capacity it has not yet finished buying, with delivery dates.
What SpaceX gives up without a second bidA buyer of this size gives up two things.
The first is price. Nvidia's gross margin was 75% in its quarter ended July 26: on average, three-quarters of what customers pay Nvidia is gross profit.
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The second is the timeline. Nvidia said in its quarterly report that it is "currently experiencing certain supply constraints," and Vera Rubin did not begin production shipments until the quarter that started on July 27. SpaceX's 2-gigawatt and 10-gigawatt targets depend on how much a single supplier ships of a product with limited supply.
Terafab, the chip plant that SpaceX is planning with partners, is its hedge against shortages, but the prospectus says there are still no definitive agreements.
Of course, management's answer is that profitability arrives quickly. Johnsen said current cloud economics provide SpaceX with "less than a one-year payback" on new capital allocated to computing, and the company signed contracts for another $6.7 billion in cloud service revenue during the first weeks of the third quarter. If that holds, paying more for the best computer could be the right decision.
But the stock arguably already assumes it will hold. SpaceX's market value sits near $1.9 trillion, with shares around $142 at the time of writing, more than 60 times the revenue a full year would produce at the second-quarter run rate. That price leaves no room for the bill to be larger or arrive later than planned, and SpaceX has committed to building it all on a single supplier's hardware.
Nvidia uvedla, že Vera Rubin by mohla v prvním plném čtvrtletí dodávek přinést zhruba 20 miliard USD výnosů. CFO Colette Kressová uvedla, že na ni připadne asi 20 % výnosů datacenter ve 3. fiskálním čtvrtletí.
Nearly three decades ago, Nvidia (NVDA +0.79%) started off as a chip designer for enhancing graphics for video games. As it turned out, these chips were also unusually good at the kind of math that trains artificial intelligence (AI).
Over the years, Nvidia built accompanying software and systems that allow researchers and cloud hyperscalers to actually use these chips for more-advanced applications. The combination of fast-processing chips plus the tools to run them made the company the default supplier when large language models (LLM) took off a few years ago.
Its Hopper chips were the workhorses of the first AI wave. Management smartly reinvested the profits it made from Hopper into research and development. Subsequently, the company's Blackwell architecture hit the market and became another monster success.
The theme is that each generation of new chips made it cheaper and faster to train models and get inference deployments into production. Now, Vera Rubin is the next step in Nvidia's chip roster. Let's explore what makes it unique and why this product could be a game changer for the business.
Image source: Nvidia.
What does demand for Vera Rubin look like? During the second-quarter earnings call, management guided for $108 billion in sales for next quarter. Chief Financial Officer Colette Kress said, "We see Vera Rubin accounting for about 20% of data center revenue in Q3." Considering that Nvidia's data center segment makes up more than 90% of the company's total revenue, it's reasonable to forecast Vera Rubin being on track for something close to $20 billion of sales in its first real quarter of shipments.
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This is an unusually fast start. Management, which already has orders from every major hyperscaler, called Vera Rubin the fastest product ramp-up in its history. This matters because cloud infrastructure providers such as Amazon Web Services, Microsoft Azure, and Alphabet's Google Cloud -- as well as AI labs like OpenAI and Anthropic -- continue to pour unprecedented sums into data centers. The largest AI developers are expected to spend close to $800 billion on capital expenditures this year and $1.3 trillion next year.
To quantify what this translates to for the company, consider the following: Nvidia used to collect about $18 billion in revenue for every gigawatt of computing capacity it helped install with Hopper. With Blackwell, that figure rose to $25 billion. Kress says that with Vera Rubin, the company can reach $40 billion per gigawatt. The increase comes from selling more of the underlying AI rack -- accelerators, networking, and now its own processors -- rather than just the graphics chips.
How Vera Rubin changes the economics of AI factories Nvidia is marketing the Vera Rubin system as one that delivers more useful work for each watt of electricity consumed. In turn, developers can meaningfully reduce the cost of generating each AI token compared with the prior generations of hardware. For more-sophisticated uses in agentic AI, these efficiencies are important.
What makes Vera Rubin unique is that it also includes a processor to sit beside the chip itself. This expands Nvidia's addressable market, because customers are no longer only buying chip clusters but rather designing a complete factory for producing intelligence alongside Nvidia.
As AI infrastructure keeps accelerating, the supplier that owns more of that factory should be positioned to capture a larger slice of every new data center. This is exactly why the order book for Vera Rubin is already so full and why Nvidia is already talking about 70% revenue growth for next year.
Is Nvidia stock still a buy? The stock trades at a forward price-to-earnings ratio (P/E) of about 24. Nvidia itself described its fiscal 2028 sales outlook as limited by how many chips it can produce, not by how many customers want them. This is important to understand, because if supply improves even nominally, or if the new Vera Rubin systems sell more of the adjacent gear than anticipated, earnings could come in much higher than Wall Street is currently modeling.
NVDA PE Ratio (Forward) data by YCharts.
There are some risks when it comes to investing in Nvidia. The cost of memory is getting exponentially more expensive, which will pressure gross margins for a few quarters. Meanwhile, China remains an uncertain market.
Nevertheless, the combination of an estimated $20 billion contribution from a brand-new product in its first quarter, a rising take per data center watt, and management's admission that underlying demand is stronger than the 70% growth target suggests investors may be underestimating the company's future cash flow.
For long-term investors, this is the simple case: The AI infrastructure cycle looks far from finished, but Nvidia stock is priced as if it might be. For this reason, I see it as a no-brainer stock to buy and hold at its current price point.
Nvidia vzrostla v předobchodní fázi o zhruba 2 % po oznámení říjnového debutu prvních Windows počítačů RTX Spark. Lenovo a Acer budou v čele. Ty mají přinést AI výkon přímo na stůl uživatelů mimo cloud.
Nvidia NVDA , the artificial-intelligence chip king, climbed roughly 2% to $230.69 in Friday premarket trading after locking in an October debut for the first RTX Spark Windows computers. Lenovo and Acer will lead the charge. The message is clear: Nvidia wants serious AI processing on the user's desk, not just inside a distant data center.
RTX Spark packs a Blackwell graphics processor alongside a Grace central processor developed through Nvidia's MediaTek partnership. Nvidia's product update promises one petaflop of AI performance, up to 128 gigabytes of unified memory and the firepower to run demanding AI agents locally. Investors still need two crucial numbers—price and expected shipments. Those figures will decide whether RTX Spark becomes a major PC catalyst or an expensive specialist machine.
The bigger prize remains the data center, which produced $89 billion—or roughly 92.5%—of Nvidia's latest quarterly revenue. But RTX Spark opens another front without weakening that core money machine. The GuruFocus chart captures the setup: Nvidia carries an elite 95 out of 100 GF Score, with profitability and growth near the top of the scale, while GF Value is the obvious weak spot. Translation: the business is firing on nearly every cylinder, but the stock's valuation leaves little room for a stumble.
Figure AI uzavřela strategické partnerství s Nscale na nasazení až 100 000 GPU Nvidia Vera Rubin pro trénink humanoidních robotů. Počáteční závazek na výpočetní výkon činí 3,5 miliardy USD, s cílem přesáhnout 6 miliard USD.
The biggest new customer for Nvidia Corp‘s (NASDAQ:NVDA) next-generation AI chips isn’t another chatbot maker or cloud giant. It’s a humanoid robotics company.
Figure AI’s decision to secure access to up to 100,000 Nvidia Vera Rubin GPUs signals that the next wave of AI infrastructure spending may come from teaching robots how to understand and interact with the physical world—not just generate text.
Beyond ChatbotsFigure this week announced a strategic partnership with AI cloud provider Nscale to deploy up to 100,000 GPUs built on Nvidia’s Vera Rubin platform. The agreement includes an initial $3.5 billion compute commitment, with plans to scale beyond $6 billion, as Figure trains the AI models powering its humanoid robots. Deployments are expected to begin in the second half of 2027.
While the headline numbers are eye-catching, the more important takeaway is why Figure needs that much computing power.
The company said it is increasingly constrained not by hardware manufacturing but by the data and compute required to train Helix, its robotics foundation model. Figure also pointed to Index, its recently launched data platform, which it says is generating 35 minutes of training data every second.
“Data alone cannot solve this problem,” the company said. “Scaling physical intelligence will require an immense amount of compute.”
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The Rise of Physical AIFor Nvidia, the announcement underscores how demand for AI infrastructure is broadening beyond large language models.
Humanoid robots represent a fundamentally different AI challenge. Instead of answering questions or writing code, they must perceive the physical world, understand their surroundings and safely perform real-world tasks. That requires continuous training on massive amounts of visual and behavioral data.
Nvidia CEO Jensen Huang described the partnership as activating a “robotics flywheel.” In his words, Figure’s AI models will train on Nvidia’s Vera Rubin platform through Nscale’s cloud, validate in Nvidia Isaac Sim, and ultimately deploy on Nvidia-powered robots. He called it “the physical AI flywheel” that will accelerate the path from AI models to real-world robots.
That framing matters because it positions robotics as a new long-term demand driver for Nvidia’s AI ecosystem rather than simply another buyer of GPUs.
What Investors Should WatchInvestors have largely viewed Nvidia’s growth through the lens of hyperscalers and generative AI companies racing to build ever-larger language models. Figure’s latest commitment suggests another market is beginning to emerge.
If humanoid robotics scales as companies such as Figure envision, demand for AI infrastructure may increasingly come from training machines to operate in the physical world.
For Nvidia, that could broaden its customer base beyond cloud providers and AI labs, reinforcing Huang’s long-held view that physical AI represents the industry’s next frontier. The Figure partnership may be one of the clearest signs yet that the shift is already underway.
Nvidia zvažuje investici zhruba 2,5 miliardy USD do Thinking Machines Lab Miry Murati. Startup jedná o financování ve výši 5 až 6 miliard USD při valuaci nejméně 40 miliard USD.
Thinking Machines Lab is discussing a funding round at a valuation of at least $40 billion Summary
Nvidia is reportedly considering an investment of about $2.5 billion
Nvidia Corp. (NVDA, Financials), the dominant supplier of artificial intelligence chips, could put roughly $2.5 billion into Mira Murati's Thinking Machines Lab as it expands its reach beyond selling hardware.
Thinking Machines is in talks to raise between $5 billion and $6 billion at a valuation of at least $40 billion before the new investment, according to The Information.
Nvidia is expected to provide roughly half of that capital. The potential deal would deepen an already close relationship.
In March, Nvidia and Thinking Machines announced a multiyear partnership to deploy at least 1 gigawatt of next-generation Vera Rubin systems. The first deployment is targeted for early next year. That makes the investment strategically different from a typical venture bet.
Nvidia would be helping finance an AI company that has already committed to deploying its infrastructure at enormous scale. The arrangement could strengthen future demand for Nvidia systems while giving Thinking Machines access to the computing capacity needed to build and serve advanced AI models.
The talks also come just after Nvidia agreed to acquire open-source AI platform Hugging Face for $12.93 billion, another move that extends the company deeper into the software and developer side of the AI market.
The next catalyst is whether Nvidia and Thinking Machines finalize the funding round and disclose how the investment fits into their existing gigawatt-scale partnership.
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Nvidia za dva roky vybudovala akciové portfolio téměř za 100 miliard USD; k 26. červenci mělo hodnotu 99 miliard USD. Z toho zhruba 48 miliard USD připadalo na veřejně obchodované akcie a jiné obchodovatelné cenné papíry, 48 miliard USD na podíly v soukromých firmách a jiné neobchodovatelné cenné papíry a 3 miliardy USD na investice účtované metodou ekvivalence.
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Nvidia CEO Jensen Huang. Tomohiro Ohsumi/Getty Images Nvidia has built a nearly $100 billion equity portfolio from virtually scratch in just two years by investing in other tech companies.
The AI chipmaker, led by CEO Jensen Huang, held $99 billion in equity investments as of July 26, according to its latest earnings report.
That included roughly $48 billion in publicly traded stocks and other marketable securities, $48 billion in shares of private companies and other non-marketable securities, and $3 billion in equity-method investments.
Its equity portfolio surged 14-fold in a year from about $7 billion last summer, and 45-fold from $2.2 billion two summers ago. The company also reported a further $25 billion in equity investment commitments as of July 26.
Nvidia's quarterly portfolio disclosure offered a glimpse at its public US stock portfolio as of June 30. It held a $30 billion stake in Intel, a $21 billion position in SpaceX, and investments in CoreWeave, Coherent, Synopsys, and Nokia, each worth between $2 billion and $5 billion.
The huge increase in Nvidia's equity holdings has vaulted it into the ranks of the biggest tech investors. It still trails the likes of Alphabet, which had a $232 billion equity portfolio at the end of June, including $94 billion of SpaceX shares following its IPO in June.
Nvidia stock has rocketed from below $15 at the start of 2023 to $228 at Thursday's close. That 15-fold increase in under three years has catapulted its market capitalization to $5.5 trillion, making it the world's most valuable company.
The chipmaker has become the premier enabler of the AI boom by providing the types of semiconductors needed to power the nascent technology, financing the AI infrastructure buildout, and investing in its AI peers.
A Nvidia spokesperson pointed Business Insider to finance chief Colette Kress, saying on the company's latest earnings call that frontier AI labs' ability to improve their products, attract more users, and generate more revenue was being "limited by compute," so Nvidia was "needed to help power this flywheel" and had thus invested almost $50 billion in them.
In its latest earnings report, Nvidia said that it makes equity investments to "enhance our growth opportunities, cultivate our ecosystem, and strengthen our competitive position."
However, Michael Burry of "The Big Short" fame has said Nvidia is "overreaching" in its efforts to juice its growth by financing and investing in customers of its chips.
Similarly, former "Shark Tank" investor Mark Cuban has said it's "truly scary" how reliant the AI boom is on Nvidia "funding everyone and anyone."
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Theron Mohamed You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Theron Mohamed is a London-based correspondent on the International team at Business Insider. His coverage spans finance, investing, wealth, markets, and the economy.Theron joined BI in 2019 as a reporter at Markets Insider and rose to the rank of correspondent before moving to the Trending team then the broader International team. He previously covered tech, media, and telecom stocks for Investors Chronicle magazine and had a brief stint on the Financial Times' Data team. He interned at the Wall Street Journal in New York where he primarily wrote for Heard on the Street.Theron has freelanced for The Independent, The Telegraph, WIRED, and several smaller publications. He holds an undergraduate degree in geography from the London School of Economics, and a master's degree in journalism from Columbia University.Theron often covers Warren Buffett, Michael Burry, and other elite investors. He also writes about the world's wealthiest people and shares financial advice from all manner of rich and successful people.Email Theron at [email protected] and follow him on X @theron_mohamed.
Cathie Wood has spent years backing challengers to dominant technology companies, but her latest semiconductor move leaned firmly towards the market leader.
ARK Invest sold about $72.8 million of AMD shares in its August 28 trades while buying roughly $53 million of Nvidia stock.
AMD disposal was valued at about $74.5 million and the Nvidia purchase at $55.6 million.
The move came days after Nvidia delivered another blockbuster quarter. But ARK has not said the trade reflects a loss of confidence in AMD.
The more defensible reading is that Wood was rotating towards clearer near-term AI earnings visibility.
Nvidia had just reported fiscal second-quarter revenue of $96.2 billion, up 106% from a year earlier, while Data Center revenue jumped 117% to $89 billion. The company guided for roughly $108 billion of revenue next quarter.
Nvidia is no longer asking investors to wait several product cycles for its AI thesis to show up in financial results.
Demand is already translating into enormous revenue, and management says supply remains a constraint.
TD Cowen analyst Joshua Buchalter described Nvidia shares as “materially undervalued” after the results, according to MarketWatch. He argued that without supply constraints, customer demand could point to revenue nearly doubling.
Bank of America analyst Vivek Arya made a similar valuation case before earnings.
Arya saw Nvidia stock trading at a 34% to 50% discount to what its fundamentals could justify while maintaining a $350 target.
For ARK, that combination of dominant market position and visible earnings growth may have made Nvidia the more attractive destination for incremental chip exposure.
AMD’s own numbers hardly suggest a broken story.
Second-quarter revenue reached a record $11.5 billion, up 50% year on year, while Data Center revenue more than doubled.
Chief executive Lisa Su said Helios, AMD’s rack-scale AI platform, was beginning to ramp in the second half.
The difference is that investors are still waiting to see how quickly Helios can translate into a much larger AI revenue stream.
Futurum Group chief executive Daniel Newman captured that tension after AMD’s results.
Yahoo Finance reported that Newman viewed the quarter as good, but said investors had been looking for a much stronger guide driven by Helios.
Wall Street remains constructive on AMD.
Goldman Sachs upgraded the stock to Buy in May, arguing that AMD could be an outsized beneficiary of enterprise agentic AI adoption as demand supports both server CPUs and future data-centre GPU growth.
The firm also said it continued to prefer Nvidia and Broadcom on a relative basis.
That last point fits ARK’s August 28 activity especially well, as Wood did not simply sell AMD and buy Nvidia. ARK also added roughly $20 million of Broadcom stock.
That looks more like a reshaping of semiconductor exposure across several AI winners than a binary call that AMD has lost.
Nvidia zvýšila své kapitálové investice za rok více než desetinásobně na 99 miliard USD a dál je využívá k podpoře ekosystému AI. Firma letos přislíbila více než 40 miliard USD.
Nvidia has become one of the world's largest strategic tech backers as the value of its equity investments soared more than tenfold in the past year to $99 billion, with the chip giant increasingly looking to leverage its huge capital reserves to bolster the AI sector.
The company has ramped up dealmaking for financing rounds across the AI stack in the previous 12 months, with over $40 billion committed in 2026. Equity investments were valued at $99 billion as of July 26, up from about $7 billion a year earlier and about $2.2 billion two years earlier.
The rise in value puts Nvidia among the strategic investors with the largest tech holdings around the world. The company still trails some more established tech firms, with Alphabet and Amazon both posting equity investments worth over $100 billion in recent earnings.
Capital has increasingly become a key play for Nvidia.
In August, the company announced partnerships with major investment firms aimed at mobilizing more than $500 billion worth of financing for Nvidia's graphics processing units (GPUs) and said it would provide up to $105 billion of conditional credit support for an OpenAI data center in Ohio. Nvidia also announced Thursday it is planning to acquire AI startup Hugging Face for $12.9 billion.
Frontier labs, neoclouds and companies building software and novel tech for AI — both in private and public markets — have been recipients of cash, with the value of Nvidia's equity holdings also buoyed by skyrocketing tech stocks.
Nvidia made the investments to enhance its growth opportunities, cultivate its ecosystem and strengthen its competitive position, the company said in its earnings.
"Nvidia has a clear interest in ensuring that its customers and partners prosper to provide future business for Nvidia," Ian Fogg, research director at CCS Insight, told CNBC. "Equity investments help companies to innovate, but also give Nvidia a degree of control to encourage companies to take a Nvidia-related innovation path."
Securing positioningNvidia dominates the market for the most advanced chips used for AI, known as graphics processing units (GPUs). Business has boomed as a result.
The chip giant has seen its stock increase by 33% over the past 12 months, and its revenue soared 106% to $96.2 billion in its fiscal second quarter.
Nvidia stock.
"Nvidia is keen to diversify its AI business," said Fogg. "In its most recent quarter, $48.7bn of $96.2bn revenue came from the Hyperscale segment which includes the largest cloud players."
The company is taking steps including financing and equity investments to "increase the range of customers and create an AI ecosystem," he added. "Some aim to support emergent cloud providers, others help Nvidia grow new markets, like telecom for example with the $1bn Nokia equity investment."
Frontier AI labs have been major recipients of Nvidia splashing the cash. The chip giant's Chief Financial Officer Colette Kress told analysts on an earnings call that the company had invested "nearly $50 billion in the frontier AI labs."
Most recently, in February, Nvidia said it would invest $30 billion into OpenAI as part of the company's $110 billion funding round.
While frontier AI labs had "extraordinary" demand for compute, they were growing faster than balance sheets and credit profiles could support and struggled to secure AI factory infrastructure independently, Kress added. "Nvidia is needed to help power this flywheel."
Neoclouds, which buy Nvidia GPUs and then rent access to companies, such as Nebius and CoreWeave, have also courted the chip giant. January saw Nvidia invest $2 billion into CoreWeave and in March it was announced that Nebius secured a $2 billion investment.
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"By injecting capital directly into AI infrastructure financiers, specialized cloud providers and foundation model labs, Nvidia provides these startups with the balance sheet strength to purchase tens of thousands of Nvidia GPUs," Naveen Chhabra, principal analyst at Forrester, told CNBC.
The company has also invested in nascent technological areas. Since March, Nvidia has committed at least $6.5 billion into companies developing photonics and optical technology — which uses light to transmit data and is considered to be a more efficient alternative to transferring data using electricity.
Lumentum, Coherent and Marvell each received $2 billion investments from the tech giant.
"Optics/networking specialists, like Coherent, receive investments to ensure their tooling, NVLink protocols and design engines remain strictly optimized for Nvidia's architecture," said Chhabra. "This creates high switching costs and protects the CUDA software moat against competing accelerators from AMD or internal custom chips from cloud providers."
Nvidia has also seen its $5 billion investment in Intel soar to a value of $30 billion, while its SpaceX holding was worth $21 billion as of June.
"As global AI chip demand runs into physical supply constraints particularly around high-bandwidth memory (HBM) and advanced packaging, Nvidia uses strategic equity positions like in domestic manufacturing options like Intel, to secure priority manufacturing access, reduce Asian foundry concentration risk and stabilize key component supplies," said Chhabra.
Nvidia uvedla, že zakázková kniha cloudového odvětví přesahuje 2 biliony USD a že poptávka výrazně převyšuje její nabídku. Firma zároveň očekává pro fiskální rok 2028 růst tržeb asi o 70 % kvůli omezené výrobní kapacitě.
Nvidia (NVDA +1.80%) reported its fiscal second-quarter results on Aug. 26, and the figures were extraordinary. Quarterly revenue rose 106% year over year to $96.2 billion, accelerating from the 85% growth recorded in the fiscal first quarter. Data center revenue rose 117% to $89.0 billion.
But the figures that caught my eye came out of the earnings call, from chief financial officer Colette Kress.
"With cloud industry backlog now greater than $2 trillion, [capital expenditures] by the top 5 hyperscalers is expected to reach nearly $800 billion in 2026 and $1.3 trillion in 2027," Kress said.
That backlog is the pipeline behind both spending figures: cloud customers turn it into data centers, and a meaningful share of every data center dollar goes to Nvidia. So the way to size Nvidia's cut is to pin down that share.
Image source: Nvidia.
How much of hyperscaler spending goes to Nvidia?Nvidia divides its data center revenue into two categories. The hyperscaler category takes in the public clouds plus the world's biggest consumer internet companies. The rest (AI clouds, industrial and enterprise customers, which the company abbreviates as ACIE) covers everyone else.
Revenue from hyperscalers reached $48.7 billion in the fiscal second quarter. That was a 13% rise from the $43.1 billion in the fiscal first quarter, and was more than double the $24.2 billion Nvidia recorded a year earlier (Nvidia recast prior periods after moving a customer to the hyperscaler category).
Multiply the $48.7 billion from the second quarter by four, and revenue from hyperscalers reaches a run rate of about $195 billion a year. If you compare that figure with the nearly $800 billion in capital expenditures Kress says the top five hyperscalers are expected to make in 2026, Nvidia's share comes out to about 24%.
The comparison is loose, to be sure: Nvidia's fiscal year ends in late January, so its fiscal 2027 aligns only approximately with calendar 2026, and its hyperscaler category includes more customers than those five -- which means the true share of those five companies' spending runs somewhat lower. Even so, the last two quarters come to about $92 billion against half of this year's $800 billion -- about $400 billion, if that spending were distributed evenly throughout the year -- or about 23%.
If that share holds, 24% of $1.3 trillion equals about $315 billion in revenue from hyperscalers in calendar 2027, most of which falls into Nvidia's fiscal 2028. That single category would be larger than the $215.9 billion Nvidia brought in for all of fiscal 2026.
And hyperscalers represent only about half of Nvidia's data center business. ACIE revenue was $40.3 billion in the second quarter, a 25% quarter-over-quarter increase and a 138% year-over-year increase. Kress said that non-hyperscaler business should continue to represent about half of data center revenue.
If that distribution holds and the $315 billion is doubled, data center revenue in fiscal 2028 comes out to about $630 billion. Use the second quarter's actual split instead (hyperscalers were about 55% of the data center total) and the figure comes out closer to $575 billion.
Nvidia cannot manufacture everything its customers wantWherever demand for Nvidia's products lands, there's a holdup: manufacturing.
Kress said the company's preliminary expectation is that fiscal 2028 revenue will grow about 70%, and that the figure reflects supply constraints.
CEO Jensen Huang put it more directly, saying "even though our demand is much greater than 70%, our supply allows us to confidently deliver 70%."
What does 70% equal in dollars?
Nvidia's revenue during the first half of fiscal 2027 was $177.8 billion, and the company forecast $108 billion for the third quarter. And a fourth quarter that matched the third would put fiscal 2027 near $394 billion. If that figure grows by 70%, fiscal 2028 revenue comes to about $670 billion.
Data center revenue accounted for more than 92% of Nvidia's total last quarter, so $670 billion in total revenue implies about $620 billion for the data center business -- right in the middle of the $575 billion to $630 billion the demand math yields. That is what you would expect if supply is the real limit: revenue can only reach what Nvidia can build, and the demand Huang says runs well past 70% shows up in the backlog instead of the income statement.
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One risk is how much it costs to manufacture all that. Memory prices are rising, and the company now expects its gross margin to bottom out in the fiscal fourth quarter between 71% and 72%, compared with 75% in the second quarter.
The other risk is the share itself. Capital spending also buys land, buildings, power, and networking gear, and the big cloud companies design some chips of their own -- so Nvidia's quarter of the total is an observation, not a guarantee.
As for the stock, it trades at about $217 as of this writing, up about 4% since the report and about 8% below its 52-week high. The stock trades at about 27 times earnings. Relative to the earnings analysts expect for fiscal 2028, the price-to-earnings multiple drops to about 14, which seems reasonable to me for a company expecting 70% growth.
The semiconductor industry is cyclical, of course, and a $2 trillion backlog could shrink just as fast as it was built. But Nvidia has already told the market how much it expects to grow next year, and said demand is higher than that figure. With this in mind, I do think shares look attractive here. But I would simply maintain a modest position, given how cyclical chips have always been.
NVIDIA čeká pokles non-GAAP hrubé marže na 71 % až 72 % ve 4. fiskálním čtvrtletí 2027 kvůli vyšším cenám pamětí. Firma chce marže podpořit zdražením od fiskálního roku 2028.
Key Takeaways NVIDIA expects fiscal Q4 2027 non-GAAP gross margin to fall to 71%-72% before recovering.Higher memory costs are pressuring margins as AI demand drives rapid Data Center revenue growth.NVIDIA plans fiscal 2028 price increases and is expanding memory supply through major suppliers. NVIDIA Corporation’s (NVDA - Free Report) gross margin faces a new test as memory prices rise sharply amid the artificial intelligence (AI) infrastructure boom. The company delivered a strong 75% non-GAAP gross margin in the second quarter of fiscal 2027, but management expects this metric to decline in coming quarters. Still, NVIDIA’s pricing power, strong Blackwell demand and long-term supplier relationships could help it protect profitability above the 70% level.
NVIDIA expects third-quarter fiscal 2027 non-GAAP gross margin of 74%, plus or minus 50 basis points, down from 75% in the second quarter. The company expects non-GAAP gross margin to come down to 71%-72% in the fourth quarter before recovering to 72%-73% in fiscal 2028. The pressure is largely tied to higher memory costs. During the second-quarter earnings call, management stated pricing conditions have become more difficult than previously expected.
The impact is significant because memory is an important component of NVIDIA’s AI systems. Yet the higher costs are also a result of the same AI demand driving NVIDIA’s growth. The company’s second-quarter revenues jumped 106% year over year to $96.2 billion, while Data Center revenues surged 117% to $89 billion. Strong demand for Blackwell Ultra helped lift non-GAAP gross margin 250 basis points from the year-ago quarter.
NVIDIA is taking steps to secure supply. Its supply and capacity commitments increased to $279 billion, primarily because of memory procurement. The company also has long-standing relationships with the three major memory suppliers — Micron Technology, SK Hynix and Samsung — and is working with them to expand capacity.
Pricing power could provide another cushion. NVIDIA expects to implement price increases beginning in fiscal 2028, helping margins recover toward 72%-73%. With AI demand remaining strong and Vera Rubin entering production, NVIDIA appears capable of keeping gross margins comfortably above 70%, although near-term pressure is likely.
NVDA’s Rivals AMD & INTC Face Margin Tests Amid AI Chip BoomNVIDIA’s main competitors, Advanced Micro Devices, Inc. (AMD - Free Report) and Intel Corporation (INTC - Free Report) , are also witnessing margin improvement amid the rising demand for AI chips.
Advanced Micro Devices offers a growing alternative in AI accelerators. Its second-quarter 2026 revenues rose 50% year over year to $11.54 billion, while Data Center revenues jumped 107% to $6.72 billion, helped by Instinct MI350 GPUs and EPYC processors. AMD’s non-GAAP gross margin expanded to 56.2% from 43.3%, reflecting a favorable mix shift toward higher-value Data Center products.
Despite the significant improvement, Advanced Micro Devices’ non-GAAP gross margin remained well below NVIDIA’s. This suggests AMD has a lower cushion to absorb rising memory costs.
Intel is another competitor benefiting from growing AI infrastructure demand through its Xeon CPUs and manufacturing business. The company’s second-quarter 2026 revenues increased 25% year over year to $16.13 billion, while non-GAAP gross margin expanded to 41.8% from 29.7%.
Though Intel expects continued strong demand for server CPUs, it has warned that higher memory, wafer and substrate prices could pressure margins. The company has been investing heavily in manufacturing, including a planned $5.7 billion expansion of its Ireland facility.
For NVIDIA, the key advantage remains its much higher gross margin. AMD and Intel face their own cost pressures, but NVIDIA's strong AI demand and pricing power could give it greater flexibility to absorb higher memory costs while keeping margins above 70%.
NVIDIA’s Price Performance, Valuation and EstimatesShares of NVIDIA have risen around 20.2% year to date, outperforming the Zacks Computer and Technology sector’s gain of 15.5%.
NVIDIA YTD Price Return Performance
Image Source: Zacks Investment Research
From a valuation standpoint, NVDA trades at a forward price-to-earnings ratio of 17.98, below the sector’s average of 20.22.
NVIDIA Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NVIDIA’s fiscal 2027 and 2028 earnings implies a year-over-year increase of approximately 93.3% and 64%, respectively. Estimates for fiscal 2027 and 2028 have been revised upward over the past seven days.
Image Source: Zacks Investment Research
NVIDIA currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
SK Hynix těží ze silné poptávky po HBM a dalších paměťových čipech pro AI infrastrukturu. V Indianě staví první americký AI paměťový hub a dodávky pro zákazníky v USA plánuje od druhé poloviny roku 2029.
Key Takeaways SK Hynix is benefiting from surging demand for HBM and advanced storage chips used in AI infrastructure.Its NVIDIA partnership supports next-gen AI memory supply as SK Hynix expands capacity for rising demand.SK Hynix's Indiana fab will supply next-gen HBM to U.S. customers starting in the second half of 2029. South Korean memory-chip giant SK Hynix (SKHY - Free Report) made a highly impressive Wall Street debut in July. It is South Korea’s second-largest company and one of the world's largest semiconductor vendors. SK Hynix is experiencing exploding demand from AI data centers.
The company continues to gain from soaring demand for high-bandwidth memory and advanced storage chips, both of which are essential components of AI infrastructure. The rapid expansion of AI data centers has created a global shortage of memory products, boosting demand across sectors ranging from cloud computing to consumer electronics.
As a major supplier of AI memory chips to NVIDIA (NVDA - Free Report) , SK Hynix is well positioned to capitalize on the AI boom. Building on its relationship with NVIDIA, the company is expanding manufacturing capacity to address increasing demand generated by the continuing global AI investment cycle.
Earlier this year, SK Hynix also entered into a long-term AI memory partnership with NVIDIA. As a follow-up measure to solidify their previous long-term technical partnership, this agreement allows NVIDIA to secure a stable supply of next-generation AI memory, while enabling SK Hynix to expand the foundation for growth.
SKHY holds a strong position in the high-bandwidth memory (“HBM”) market. This leaves it favorably placed as agentic AI drives greater memory requirements. Its early leadership in HBM provides a meaningful competitive advantage. Meanwhile, the rapid expansion of AI data centers has created a worldwide memory chip shortage, lifting demand across industries, from cloud computing to consumer electronics. The company could also gain from supportive policies in South Korea.
Last month, SK Hynix held a groundbreaking ceremony for its Indiana fab, thereby taking the first step toward securing a local AI memory production base in the United States. The Indiana fab is SK Hynix’s first AI memory production hub in the United States. Built on a site of approximately 133 acres, the fab will house an HBM production line and the Advanced Packaging R&D Testbed in West Lafayette, IN. SK Hynix plans to supply next-generation HBM that has undergone on-site packaging and testing to its U.S. customers starting in the second half of 2029.
Micron Technology (MU - Free Report) is also a major player in the HBM market. The company is benefiting from one of the biggest changes in the semiconductor industry — the rapid AI growth. AI servers need far more memory and bandwidth than traditional systems, driving demand for HBM, advanced DRAM and data center solid-state drives. Micron’s latest HBM solutions offer higher capacity, stronger performance and better power efficiency, making them well suited for AI accelerators. Demand has been particularly strong for HBM products. Micron has already sold out its HBM production for calendar year 2026, while a significant portion of the 2027 capacity has been reserved through long-term customer agreements.
Taking a Look at SKHY’s Key MetricsShares of SKHY have gained in the high single digits (% wise) ever since its U.S. debut. Consequently, SKHY’s shares outperformed the Zacks Electronics-Semiconductors industry over the same time frame.
Price ComparisonImage Source: Zacks Investment Research
See how the Zacks Consensus Estimate for the company’s earnings per share has been revised over the past 90 days.
Image Source: Zacks Investment Research
The Wall Street average price target for SKHY calls for an upside of roughly 54% from current levels.
Image Source: Zacks Investment Research
SKHY’s Zacks RankSKHY currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nvidia ve 2Q FY27 udržela ne-GAAP hrubou marži na 75 % při výnosech 96,22 mld. USD. Výnosy z datových center vzrostly meziročně o 117 % na 89,02 mld. USD.
One stubborn number buried in Nvidia's latest earnings report signals something that almost never survives at hardware scale, and it is the reason this investor keeps adding shares despite a valuation that looks stretched on the surface.
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I keep hitting the buy button on NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) because one number refuses to break, and that number tells me everything I need to know about pricing power in this cycle.
That number is gross margin. At the scale NVIDIA now operates, holding a 75% non-GAAP gross margin should be arithmetically difficult for a hardware company. The Q2 FY27 report landed exactly there: revenue of $96.22B, gross profit of $72.14B, non-GAAP gross margin at 75.0%. Management said the level was “largely unchanged from last quarter due to a similar product mix.” When a company sells $89 billion of data center gear in ninety days and still keeps three quarters of every dollar as gross profit, that is monopoly economics at hardware scale.
Pricing Power That Refuses to Compress Q2 FY27 revenue grew 105.85% YoY. Data center revenue reached $89.02B, up 117% YoY. Every one of those dollars was harder to earn than the one before it, because supply chain constraints hit foundry, memory, power, and yield simultaneously. Margins still held at 75%. Management guided Q3 gross margin to 74%, plus or minus 50 basis points, and fiscal 2028 to 72% to 73% once executed price increases work through memory costs. Even that compressed figure keeps NVIDIA well above any data center silicon peer. Vera Rubin, now in full production, expands the revenue opportunity to $40 billion per gigawatt, up from Blackwell’s $25 billion and Hopper’s $18 billion. Customers pay more because the platform delivers more.
Returns That Compound Faster Than the Multiple Return on invested capital is 92.2%. Return on equity is 101.5%. Debt-to-equity sits at 0.073, with interest coverage of 503.4x. Free cash flow in fiscal 2026 was $96.58B, up 58.7%. In Q2 alone NVIDIA returned $26 billion to shareholders, $20 billion in buybacks and $6 billion in dividends, with roughly $99B still authorized. Trailing P/E of 45 looks full, yet consensus already models fiscal 2028 EPS of $13.1277 against $4.77 in FY26. When earnings compound this way and capital returns scale with cash flow, the multiple resolves itself.
NVIDIA’s Edge Over Broadcom, AMD, and Amazon’s Trainium Broadcom (NASDAQ:AVGO) sells custom silicon into specific hyperscaler sockets. Advanced Micro Devices (NASDAQ:AMD) builds a credible accelerator. Amazon (NASDAQ:AMZN) has disclosed Trainium as a multibillion-dollar business. NVIDIA’s data center segment printed $89.02B in a single quarter. A multibillion-dollar Trainium line is a rounding item inside one NVIDIA reporting period. Intel (NASDAQ:INTC) competes on chips too, and now collaborates with NVIDIA on NVLink custom products. NVIDIA sells the CUDA software estate, NVLink fabric, Spectrum-X networking, and the Vera CPU on top of the accelerator. Networking grew 18% sequentially, with SpectrumX Ethernet up 2.6X year over year. That is the moat you cannot backfill by taping out one accelerator.
Risks on My Radar China data center compute revenue is fully excluded from forward guidance. Supply obligations sit at $279B, guarantee obligations reach $108.5B, and days sales outstanding stretched from 45 to 60 days as investment-grade customers took extended payment terms on multi-quarter shipments. If the AI capex cycle rolls over, those commitments become the headline. What keeps my capital active is that cloud-industry backlog exceeds $2 trillion, and top-five hyperscaler capex is guided at nearly $800 billion in 2026 and $1.3 trillion in 2027. All of that spend has to be powered, cooled, and networked by somebody, and we rounded up seven suppliers behind the buildout in a free report on the AI boom beyond the chipmakers. Demand is running well above what NVIDIA can supply at least through the end of fiscal year 28.
Why the Buy Button Stays Active Jensen Huang said it plainly on the call: “Now, compute is revenue.” Until the gross margin line breaks, my capital keeps landing on the same ticker.
Contact [email protected] for any questions or corrections.
Nvidia se dohodla na koupi open-source AI platformy Hugging Face za 12,9 miliardy USD. Transakce má rozšířit její působení dál za hardware a posílit AI infrastrukturu.
Nvidia has officially agreed to buy open-source artificial intelligence platform Hugging Face for $12.9 billion, as the chipmaker moves beyond hardware and further up the AI stack.
With the deal, which has been expected since The Information reported on it last week, Hugging Face will "remain an open platform for the entire AI ecosystem," Nvidia CEO Jensen Huang wrote in a blog post on Thursday.
"Together, we will scale Hugging Face's platform, strengthen its infrastructure and expand access to AI for developers and institutions worldwide," Huang wrote.
Hugging Face CEO Clément Delangue told CNBC on Thursday that the company approached Huang over the summer about a deal, "and a few weeks later, here we are."
"During the summer, I think we realized that Hugging Face and open source AI in general was at the turning point, and that it needed more, more resources, more scale, more visibility," he told CNBC's Becky Quick on "Squawk Box."
Delangue said he approached first because Nvidia was "a perfect home" for his company, adding that discussions went quite fast to get a deal done.
Read more CNBC tech newsApple enters John Ternus era as AI challenges and memory crunch intensifyGoPro joins AI bonanza with pivot into data centers as shares skyrocket 40%AI data center play SB Energy, which is backed by Softbank and Nvidia, files for IPOWaymo and Zoox expand into more U.S. markets as robotaxi race heats upThe acquisition marks Nvidia's second biggest on record, following the $20 billion purchase of assets from chipmaker Groq in December. Prior to that, its largest deal was the purchase of Israeli chipmaker Mellanox for almost $7 billion in 2019.
Nvidia has become the world's most valuable company due to the insatiable demand for its graphics processing units, which have powered the generative AI boom. Hugging Face marks a big bet on a popular AI platform, as Nvidia continues to show that it's more than just a chip company.
Hugging Face was recently at the center of a hacking incident that raised concerns about the rapid evolution of powerful AI and cybersecurity tools.
Delangue, a proponent of open-source models, blamed engineering mistakes for the recent attack on Hugging Face and said his company used an Nvidia version of a Chinese open model to resolve it.
Clement told CNBC on Thursday that the breach proved the importance of open models and the need for his company to "double down" on the proliferation of open source AI.
Huang said that the open source environment can give defenders an "asymmetric advantage" over attackers.
"When I say asymmetric capability, there are way more people who are protecting than there are people who are attacking," he explained. "And so, the benefit of having the community come together with open models, so that they can collaborate all transparently with each other, gives the defenders an asymmetric advantage."
Activest Wealth Management ve 2. čtvrtletí snížila podíl ve společnosti NVIDIA o 30,3 % a prodala 36 321 akcií. Po prodeji držela 83 470 akcií v hodnotě 16,701 milionu USD.
Activest Wealth Management reduced its position in NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 30.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 83,470 shares of the computer hardware maker’s stock after selling 36,321 shares during the period. NVIDIA accounts for approximately 3.2% of Activest Wealth Management’s investment portfolio, making the stock its 9th largest holding. Activest Wealth Management’s holdings in NVIDIA were worth $16,701,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Defender Capital LLC. lifted its position in NVIDIA by 0.7% during the 2nd quarter. Defender Capital LLC. now owns 7,534 shares of the computer hardware maker’s stock valued at $1,507,000 after purchasing an additional 50 shares during the period. Spectrum Financial Alliance Ltd LLC boosted its stake in shares of NVIDIA by 3.8% in the 1st quarter. Spectrum Financial Alliance Ltd LLC now owns 1,395 shares of the computer hardware maker’s stock valued at $243,000 after purchasing an additional 51 shares during the last quarter. LMG Wealth Partners LLC grew its position in shares of NVIDIA by 0.7% during the 4th quarter. LMG Wealth Partners LLC now owns 7,649 shares of the computer hardware maker’s stock worth $1,427,000 after buying an additional 53 shares during the period. Vision Financial Markets LLC raised its stake in shares of NVIDIA by 1.2% during the third quarter. Vision Financial Markets LLC now owns 4,640 shares of the computer hardware maker’s stock worth $866,000 after buying an additional 53 shares during the last quarter. Finally, JGP Global Gestao de Recursos Ltda. lifted its holdings in NVIDIA by 2.3% in the fourth quarter. JGP Global Gestao de Recursos Ltda. now owns 2,402 shares of the computer hardware maker’s stock valued at $448,000 after buying an additional 55 shares during the period. Institutional investors own 65.27% of the company’s stock.
Analysts Set New Price Targets A number of brokerages have issued reports on NVDA. TD Cowen reaffirmed a “buy” rating on shares of NVIDIA in a research note on Tuesday, August 18th. Wall Street Zen raised NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Craig Hallum raised their price target on NVIDIA from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. DA Davidson reaffirmed a “buy” rating and set a $300.00 price objective on shares of NVIDIA in a research note on Thursday, August 27th. Finally, Robert W. Baird set a $500.00 price objective on NVIDIA and gave the company an “outperform” rating in a report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, fifty have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $324.23.
Read Our Latest Analysis on NVDA Insider Activity at NVIDIA In other NVIDIA news, Director Mark A. Stevens sold 885,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $210.17, for a total transaction of $186,000,450.00. Following the sale, the director directly owned 5,207,271 shares in the company, valued at approximately $1,094,412,146.07. This trade represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy S. Teter sold 30,000 shares of NVIDIA stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $217.88, for a total transaction of $6,536,400.00. Following the completion of the transaction, the executive vice president directly owned 2,687,660 shares in the company, valued at approximately $585,587,360.80. The trade was a 1.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,563,501 shares of company stock valued at $335,380,530 over the last quarter. 3.94% of the stock is owned by insiders.
Trending Headlines about NVIDIA Here are the key news stories impacting NVIDIA this week:
Positive Sentiment: Strong server demand supported by Dell: Dell Technologies’ stronger-than-expected results and raised guidance reinforced NVIDIA’s view that enterprise and hyperscaler spending on AI servers remains strong. NVIDIA’s stock is climbing as investors get more confidence in an expanding base of AI customers Positive Sentiment: Potential Hugging Face acquisition: Reports that NVIDIA is in advanced discussions to acquire AI platform Hugging Face for roughly $13 billion to $14 billion lifted expectations that the company could strengthen CUDA adoption, developer retention and recurring software revenue. The deal remains unconfirmed and could face integration and neutrality concerns. Why Nvidia’s $14 Billion Hugging Face Deal Would Make Total Sense Positive Sentiment: Expansion beyond GPUs: NVIDIA’s investments and partnerships with MediaTek, Equinix and optical-networking startup iPronics could extend its reach into custom AI chips, inference, automotive computing and data-center connectivity. An reported $35 billion Anthropic cloud commitment also highlighted continued demand for NVIDIA-powered compute. NVIDIA’s MediaTek Bet Shows How It Plans to Defend Its AI Moat Positive Sentiment: Analyst confidence remains high: J.P. Morgan reaffirmed a Buy rating and a $320 price target, citing strong AI-driven growth and expected demand for NVIDIA’s next-generation platforms. NVIDIA Buy Rating Reaffirmed NVIDIA Price Performance NVDA opened at $224.41 on Thursday. The stock has a market cap of $5.41 trillion, a P/E ratio of 28.37, a P/E/G ratio of 1.71 and a beta of 2.22. NVIDIA Corporation has a 12 month low of $164.07 and a 12 month high of $236.54. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $209.20 and a 200 day simple moving average of $201.53.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%.The firm had revenue of $96.22 billion for the quarter, compared to analyst estimates of $92.27 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was up 105.9% on a year-over-year basis. On average, research analysts expect that NVIDIA Corporation will post 9.1 EPS for the current year.
NVIDIA Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, September 10th. NVIDIA’s payout ratio is 12.64%.
NVIDIA announced that its Board of Directors has approved a share repurchase program on Wednesday, May 20th that authorizes the company to buyback $80.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
About NVIDIA (Free Report)
NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.
The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.
See Also Five stocks we like better than NVIDIA Striking Oil: How the U.S. Play for Venezuela Fuels Supermajors J.M. Smucker Stock’s Rally Has More Than Tariffs Behind It Wendy’s Rally Fades After Trian Steps Back: Was It Ever Real? GitLab’s Earnings Beat Just Gave Software Bulls a New SaaSpocalypse Test Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA – Free Report).
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Jensen Huang vyzval G20, aby regulovala jen prokazatelné škody AI, ne hypotetická rizika. Nvidia přitom ve 2. čtvrtletí utržila 96,2 miliardy USD, z toho 89 miliard USD z datových center.
Nvidia NVDA , the AI-chip powerhouse with data centers at 92.5% of revenue, took its regulatory fight to the G20 on Wednesday. According to Reuters, CEO Jensen Huang urged governments to tackle proven AI damage instead of writing sweeping rules for dangers that remain hypothetical.
The timing is no accident. Nvidia's second-quarter results delivered $96.2 billion in revenue, with data centers supplying $89 billion. Sales doubled year over year. Adjusted gross margin hit 75%. Management then guided for roughly $108 billion in third-quarter revenue. Nvidia's AI engine is running flat out.
The chart tells the same story: Nvidia's 95/100 GF Score reflects exceptional growth, profitability and financial strength, while GF Value remains its weakest category. Huang won no policy concessions, but he spotlighted the risk sitting beside Nvidia's extraordinary numbers. Faster AI adoption can send earnings sharply higher. Tougher deployment, security or model rules could squeeze nearly the entire revenue machine.
Nvidia ve středu vzrostla o více než 4 %, protože silné výsledky Dellu potvrdily, že poptávka po AI infrastruktuře zůstává vysoká. Dell zároveň zvýšil výhled tržeb i zisku.
Nvidia stock NVDA climbed over 4% on Wednesday as a stronger-than-expected earnings report from Dell Technologies provided fresh evidence that spending on artificial intelligence infrastructure remains robust.
The move also came as broader US markets recovered after three consecutive sessions of losses.
The S&P 500 was up about 0.7%, while the Dow Jones Industrial Average gained roughly 0.9% and the Nasdaq Composite advanced about 0.5%.
Dell reported a stronger-than-expected quarter on Tuesday and raised its full-year revenue and earnings forecasts for the second time this year.
The company now expects fiscal 2027 revenue of $192 billion, up sharply from its previous forecast of $167 billion.
Its adjusted earnings-per-share forecast rose to $25.50 from $17.90.
The Infrastructure Solutions Group, which includes Dell's data-center hardware operations, generated $31.78 billion in quarterly revenue, an 89% increase from a year earlier and above the $29.61 billion consensus estimate.
AI-optimized servers generated $16.40 billion in revenue, slightly ahead of expectations and twice the level recorded a year earlier.
More striking was the strength of future demand.
Dell said AI server orders reached $60.9 billion during the quarter, while its AI-related backlog surged to $95 billion from $51.3 billion in the previous earnings report.
Dell also raised its fiscal 2027 forecast for AI-optimized server revenue to $74 billion from $60 billion.
"The AI momentum spoke for itself," said analysts at J.P. Morgan, pointing to Dell's record $60 billion of orders and $95 billion backlog.
The results are significant for Nvidia because Dell's AI servers incorporate Nvidia's processors and are being purchased by customers such as AI cloud providers Nscale and CoreWeave to build computing clusters used to train and run AI models.
That creates an important read-through for Nvidia.
Dell's growing order pipeline suggests demand for the infrastructure surrounding Nvidia's accelerators remains strong, rather than being limited to a handful of hyperscalers.
Dell has continued expanding its portfolio around Nvidia's latest technology.
The company unveiled servers powered by Nvidia's Blackwell Ultra chips last year and has said its systems will support Nvidia's Vera central processing units, which are expected to succeed its Grace server processor.
Dell also plans to support Nvidia's Vera Rubin platform, extending the relationship into future generations of AI infrastructure.
Morgan Stanley analysts led by Erik Woodring, head of US technology hardware equity research, said Dell's results show that AI spending remains strong and increasingly durable.
The analysts noted that Dell had essentially no AI-related revenue four years ago but now expects $74 billion in annual revenue from AI servers alone.
That shift illustrates how rapidly AI infrastructure has moved from an emerging market into a major source of hardware demand.
The Dell results arrive shortly after Nvidia's own fiscal second-quarter earnings, where the chipmaker offered investors an unusually strong longer-term outlook.
Nvidia said it expects revenue growth of 70% in fiscal 2028, significantly above analyst expectations for about 45% growth.
Nvidia is also widening its influence across the AI infrastructure stack through a new partnership with MediaTek.
Nvidia plans to invest $3.5 billion in convertible bonds issued by Taiwan-based MediaTek, while MediaTek will adopt Nvidia's NVLink Fusion platform.
The technology allows customers to develop customized processors that can connect to Nvidia's NVLink-based rack-scale AI systems.
The partnership could help Nvidia participate in the growing custom-chip market without having to design every accelerator itself.
Supply-chain analyst Ming-Chi Kuo said MediaTek can develop customized chips for customers while Nvidia provides the connectivity and rack-scale infrastructure needed to integrate those processors into AI systems.
The two companies will also continue working together on future generations of Nvidia's RTX Spark and DGX Spark platforms, as well as technologies for AI-powered vehicles.
"Nvidia is just covering all its bases here & abroad," said Paul Meeks, head of technology research at Freedom Capital Markets in a MarketWatch report.
He added that Nvidia was "continuing to boost its influence in the AI infrastructure ecosystem even beyond" its graphics processing units.
Meanwhile, Nvidia recently received a fresh bullish commentary from JPMorgan, the most conservative bank, which lifted its price target to $320 from $280 while maintaining an Overweight rating.
JPMorgan analyst Harlan Sur recently met with Nvidia's Toshiya Hari, vice president of investor relations and strategic finance, who said the 70% growth framework reflected broad-based demand across these customer groups.
The company also said it had offered an out-year forecast because it sees a meaningful gap between Wall Street estimates and its own internal projections.
Nvidia's recent financial performance reinforces that confidence.
Revenue has grown 83% over the past 12 months, while 35 analysts have raised earnings estimates for the upcoming period.
Perhaps more importantly, Nvidia continues to describe its business as supply-constrained rather than demand-constrained.
Hari indicated that without supply limitations, Nvidia's business could potentially more than double year over year.
The composition of AI workloads is also changing.
Hari said the mix between training and inference revenue was roughly 50/50 about 18 months ago.
Nvidia now believes inference has become the larger part of the business and expects its share to continue increasing.
That shift could extend the AI infrastructure cycle because inference involves the repeated use of trained models for applications ranging from AI agents to enterprise software and consumer services.
The implication for Nvidia is that demand may increasingly come not just from building increasingly powerful AI models, but from deploying them at scale.
Analytik Pierre Ferragu z New Street Research vidí NVIDIA na 400 USD do 18 měsíců jen na základě zisků, bez nutnosti odkupu akcií. Opírá se o výhled minimálně 70% růstu byznysu příští rok.
Jim Cramer and a top Wall Street analyst both see Nvidia as mispriced, but their prescriptions could not be further apart, and only one of them has the earnings to back it up.
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Two CNBC voices looked at the same stock inside the same 12-hour window and reached opposite conclusions about what it needs. Jim Cramer wants NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) to launch a buyback roughly equal to a tenth of its market value to fix what he sees as broken price discovery. New Street Research’s Pierre Ferragu says the earnings will do the work themselves.
Ferragu’s $400 Call, No Corporate Action Required Speaking Tuesday morning, Ferragu said a $400 stock price is “very, very, very likely” within 18 months, driven by earnings power alone. He cited Jensen Huang’s guidance for at least 70% business growth next year and framed NVIDIA as operating in “halcyon days” with no visible cycle top. His valuation argument leans on multiple compression: NVIDIA, he argues, is trading at “single digit earnings multiples” against a forward earnings base most investors have not fully repriced.
From the September 1 close of $217.44, a move to $400 implies roughly 84% upside and a market cap approaching $10 trillion. The stock traded at $226.67 on Wednesday morning.
Cramer’s Half-Trillion-Dollar Prescription Cramer’s remedy is louder. He wants NVIDIA to buy back roughly a tenth of itself, which against a $5.46 trillion market cap pencils out to more than $500 billion. NVIDIA’s board authorized $80 billion in additional repurchase capacity on May 18, 2026, leaving approximately $99 billion remaining at quarter end. That is a fraction of what Cramer is asking for.
Cramer recently disclosed his highest cash position in 25 years, then prescribed the largest corporate repurchase in history to lift a stock he says is mispriced. NVIDIA has been actively returning capital. Management said it returned “$26 billion to shareholders” in the latest quarter, comprising “$20 billion through share repurchases” and “$6 billion through our quarterly dividend of $0.25 per share.”
Why the Fundamentals Favor Ferragu Q2 FY27 revenue reached $96.22 billion, up 105.8% year over year, with Data Center revenue of $89.02 billion. Non-GAAP EPS came in at $2.22, the fifth consecutive beat. Huang told analysts that “AI is now doing productive and useful work” and “AI is generating profitable tokens.” Consensus already reflects the acceleration: analysts model FY2028 EPS of 13.1277 on revenue of $573.6 billion. At those earnings, a $400 share price requires a forward multiple in the low 30s, roughly where the stock trades now.
The full-chain put/call ratio of 0.48 shows options traders are positioned in Ferragu’s direction. Cramer’s buyback demand may make headlines. Ferragu’s math is the one that would compound.
Contact [email protected] for any questions or corrections.
Valencia, Spain-based startup iPronics said Tuesday that it has raised $125 million in venture capital with participation from Nvidia (NVDA.O) to shrink a new type of data center networking chip that could connect hundreds of thousands of computing chips.
iPronics is developing what is called an optical circuit switch, a type of switching chip made popular in data centers by Alphabet's Google (GOOGL.O) for its role in wiring up its AI supercomputers. Google's success with the switches has inspired a wave of startups to bring them to the outside world.
The key benefit of the OCS is the ability to quickly adjust to a new path around a computing chip that has burned out, something that has become inevitable as data centers house hundreds of thousands of chips.
"The failures are happening on a 'minute' time scale — it's not in the hours or months or weeks any more," Daniel Pérez-López, founder and chief technical officer of iPronics, told Reuters in an interview. "The first motivation is to have resilience — a resilient and reliable network that is able to basically rewire itself."
iPronics is hoping to keep that technological benefit while shrinking the size of the OCS equipment by about 20-fold from current sizes in order to fit more switches in a server rack. The company has been shipping its switches for about a year and said it is working with large AI infrastructure providers that it declined to name.
The funding round was by co-led by Maverick Silicon and Light Street Capital, with participation from new and existing investors including Triatomic Capital, Bosch Ventures, Catalight Capital and the European Innovation Council Fund. iPronics, founded in 2019 as a spin-off from Technical University of Valencia, has raised $177 million to date.
Jim Cramer označil NVIDIA za „radikálně levnou“ a vyzval k odkupu akcií za 500 miliard USD, zhruba 10 % firmy. Tvrdí, že titul se obchoduje jen za 23násobek letošních odhadů zisků.
NVIDIA Corp. (NASDAQ:NVDA) remains at the center of the AI infrastructure boom, but two prominent market watchers argue investors still underestimate different parts of the company’s strategy and long-term earnings potential.
“Mad Money” host Jim Cramer believes NVIDIA’s stock does not fully reflect its AI growth, profitability or expanding role in financing data center projects. Meanwhile, Melius head of research Ben Reitzes sees NVIDIA’s open-model strategy and physical AI as potential drivers of its next phase of growth.
Cramer Says NVIDIA Should Bet Bigger On Its Own StockCramer supports NVIDIA’s decision to provide financial backing for AI infrastructure companies that may struggle to obtain multibillion-dollar loans from traditional banks.
He told CNBC on Wednesday that NVIDIA effectively acts as a banker for the AI data center buildout while benefiting from its understanding of GPUs and their residual value.
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However, Cramer believes complicated arrangements involving companies such as Anthropic, Lambda and Hut 8 Corp. (NASDAQ:HUT) make NVIDIA’s strategy harder for Wall Street to appreciate.
He called NVIDIA “radically cheap” at 23 times this year’s earnings estimates and argued the company should follow Apple Inc.’s (NASDAQ:AAPL) example by dramatically expanding share repurchases.
Cramer proposed a $500 billion buyback targeting roughly 10% of NVIDIA, saying, “Right now, I believe there’s no better investment for NVIDIA than NVIDIA.”
His argument centers on valuation: Cramer believes NVIDIA can continue funding AI investments while using its cash generation to address what he sees as Wall Street’s undervaluation of the company.
Reitzes Sees Open Models And Physical AI Driving GrowthReitzes remains bullish on NVIDIA, maintaining a Buy rating and raising his price forecast to $420 following the company’s latest earnings.
He told CNBC on Tuesday that NVIDIA reduced uncertainty around gross margins for the next six quarters, providing greater visibility than most semiconductor and hardware companies.
Reitzes sees an even bigger opportunity in NVIDIA promoting open and open-weight AI models that perform best on its computing platform.
He described the approach as a “razor-and-blade strategy,” with NVIDIA giving away models while creating demand for its chips, software and infrastructure.
Reitzes expects physical AI and enterprise applications to require growing numbers of customized models, which could strengthen NVIDIA’s broader ecosystem.
He also believes the availability of open models will push Anthropic and OpenAI to continue investing heavily to remain at the AI frontier.
Reitzes expects that competitive cycle to support continued infrastructure spending and said physical AI could “explode,” driving additional demand for NVIDIA’s technology.
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $349.15. Recent analyst moves include:
Citigroup: Buy (Raises Forecast to $315.00) (Aug. 27) Mizuho: Outperform (Raises Forecast to $315.00) (Aug. 27) JP Morgan: Overweight (Raises Forecast to $320.00) (Aug. 27) NVIDIA Top ETF Exposure Franklin Focused Dynamic Growth ETF (NASDAQ:FFOG): 9.73% Weight First Trust Innovation Leaders ETF (NYSE:ILDR): 9.79% Weight Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (NYSE:USNZ): 9.94% Weight Significance: Because NVDA carries such a heavy weight in these funds, significant inflows or outflows will likely force automatic buying or selling of the stock.
NVIDIA Price ActionNVDA Stock Price Activity: NVIDIA shares were down 0.06% at $217.32 during premarket trading on Wednesday, according to Benzinga Pro data.
Anthropic uzavřela s Lambda cloudovou smlouvu za 35 miliard USD na nákup výpočetního výkonu. Kapacita má pocházet z datacentra Hut 8 v Texasu s hardwarem Nvidia.
Anthropic has agreed to a $35 billion deal to buy computing power from Nvidia-backed cloud provider Lambda, the Wall Street Journal reported, citing unnamed sources.
The new capacity will be sourced from a Texas data center operated by bitcoin miner Hut 8, with Nvidia holding the underlying lease on the property, according to the report.
The arrangement is the latest example of the tangled web of deals reshaping the AI industry, with Nvidia serving simultaneously as landlord, chip supplier and facilitator across the transaction. Anthropic has now signed $175 billion in cloud deals in recent months as it looks to secure computing capacity ahead of an anticipated supply crunch.
The capacity for the Anthropic-Lambda deal will run through Hut 8's Beacon Point campus in Nueces County, Texas. Hut 8 had previously signed two 15-year leases covering 704 megawatts at the campus with an investment-grade customer later identified as Nvidia, which holds the primary facility lease. Those underlying contracts carry $19.6 billion in base-term contract value for Hut 8.
Once fully operational, the 704-megawatt Beacon Point campus is expected to generate an average of $1.31 billion in annual operating income for Hut 8.
Under the structure of the deal, Anthropic pays Lambda, Lambda installs Nvidia hardware, and Nvidia pays Hut 8 the underlying facility rent, a setup that guarantees Hut 8's long-term infrastructure revenue regardless of specific compute utilization.
Nvidia uvedla, že ve fiskálním roce 2028 očekává růst tržeb o 70 % a v čínském datacentrovém segmentu nemá ve výhledu žádné příjmy. Čína je pro firmu jen doplňkový zdroj, ne klíčový motor růstu.
One aspect of market psychology is that investors often think in terms of one quarter at a time. Nvidia (NVDA -1.32%) may have broken this habit in its fiscal 2027 second-quarter report. During the earnings call, management provided something public companies rarely give quite this early: a forecast for next year's growth.
Below, I'll detail why Nvidia's growth is redefining the debate about whether the artificial intelligence (AI) build-out is late-cycle theater or still in the early innings. Moreover, the analysis will touch on two important points that have haunted Nvidia stock for nearly a year: how much of this growth forecast does Wall Street actually believe, and whether Nvidia needs to regain its position in China's market to keep its empire running.
Image source: The Motley Fool.
What was Wall Street expecting for Nvidia's fiscal 2028? Nvidia's preliminary fiscal 2028 outlook is straightforward. Revenue is expected to rise 70% year over year. Chief Financial Officer Colette Kress framed that figure as "supply constrained." Chief Executive Officer Jensen Huang made it clear that demand for the company's processors is growing by more than that. In essence, a 70% growth rate is what Nvidia's supply chain can "confidently deliver," especially with shortages of memory and other parts of the AI chip stack creating bottlenecks to production.
For reference, Wall Street analysts were modeling about 44% revenue growth for Nvidia's fiscal 2028, which begins Jan. 31, 2027. Given the Street's consensus estimate of $397 billion of revenue in fiscal 2027, that implies fiscal 2028 sales of roughly $574 billion. When applying Nvidia's 70% forecast rate to the same starting base, next year's expected revenue sits closer to $675 billion.
Here's where it really gets lucrative: If I use a higher fiscal 2027 revenue figure based on Nvidia's current run rate, the implied sales for next year land closer to $700 billion. In either case, the gap between Wall Street's expectations and Nvidia's new reality is roughly $100 billion in revenue.
What's astounding is that Nvidia is no longer growing off a small base of data center sales. Given its current trajectory, Wall Street must accept that a business already measured in hundreds of billions of dollars of annual sales can go on to add yet another several hundred billion in growth in just a single year. Under these conditions, procuring GPUs is no longer the constraint for AI training and inference. Instead, the pain points revolve around high bandwidth memory, packaging, power supply, and land.
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During the fiscal second quarter, Hopper-architecture products shipped to China accounted for less than 1% of Nvidia's data center revenue. Moreover, these shipments were dilutive to Nvidia's gross margin. Kress made it clear that "given ongoing geopolitical uncertainty, there is no China data center compute revenue in our forward outlook."
Think about that for a minute: Nvidia expects to generate $108 billion in sales in the third quarter, alongside a 70% growth rate in 2028, and the Chinese market is merely an option rather than a core pillar supporting the company's sales foundation. This matters for a few reasons. First, this level of growth, excluding China, discredits a convenient bearish argument that Nvidia would need a large presence in that market to sustain its dominance in AI processors.
Second, and more subtly, Nvidia's growth outlook over the next 18 months underscores that AI labs, neoclouds, enterprises, and sovereign buyers are becoming just as important as the hyperscalers. Kress quantified the non-hyperscale cohort as representing "roughly half of our data center business." When demand for its wares is this broad, the fact that it continues to cede ground in an important market like China is only a disappointment, not a thesis-killer.
Third, Nvidia's position in data centers remains undeniable, despite increasing competition from Advanced Micro Devices and custom silicon designers like Broadcom. Nvidia's outlook suggests the company is still fighting effectively to win incremental server demand in a contested AI infrastructure landscape. A vendor in Nvidia's position does not "need" China the way a competitor like AMD needs to prove it can expand globally at a comparable scale. For Nvidia, China is purely a source of incremental dollars and a strategic hedge, not a key engine powering its future growth.
Is Nvidia stock a good buy? Nvidia stock trades at a forward price-to-earnings (P/E) ratio of about 23. This is a rather modest valuation compared to the highs it reached during the early cycles of the AI revolution. When paired with the company's reaccelerating data center growth, it's hard not to see Nvidia as a terrific value right now.
NVDA PE Ratio (Forward) data by YCharts.
But take a look at Nvidia's price/earnings-to-growth ratio (PEG ratio) as well. The PEG ratio measures a company's price relative to its expected future earnings growth. As a rule of thumb, any positive PEG ratio of less than 1 suggests a stock is undervalued. Currently, Nvidia's PEG is around 0.6. To me, it's clear the market is not paying up for the earnings path that Nvidia's management just outlined.
The takeaway here is simple: Nvidia's multiyear guidance is not a victory lap. It's a declaration that the bottlenecks to the AI build-out revolve around physical components, and that a meaningful return to the Chinese market is not something that the company would need in order to achieve a financial performance that the Street is under-predicting by a mile. At a forward earnings multiple that has somehow compressed even as the company's earnings power continues to compound, Nvidia stock is still worth owning.
Nvidia po výsledcích vykazuje tržby +106 % meziročně na 86 mld. USD a výhled na čtvrtletí 108 mld. USD. Další impuls může přijít z dohody Lambda s Anthropic za 35 mld. USD.
Buy Nvidia (NVDA). Earnings/guidance momentum is the core: revenue +106% YoY to $86B, current-quarter revenue guide to $108B, and management’s conservatism implies upside beyond that. Add the $35B Anthropic-related GPU buildout via Lambda/Hut 8 (350MW) as a near-term demand signal. Valuation is the kicker: forward P/E ~23 vs its 5-year average ~42, so the market is still underpricing the growth. Technicals support continuation: above 50-week EMA, Supertrend, and the rising trendline—setup for a push toward $300.
Key Risk: Guidance disappoints next quarter and the market decides the current growth run-rate can’t be sustained.
NVDA buy on buybacks
Buy NVDA specifically for the EPS/float effect from buybacks. With $26B repurchased in Q2 and $99B remaining, the share count is shrinking (24.15B vs 25.06B in 2022), mechanically lifting EPS even if revenue growth merely matches guidance. This amplifies any upside surprise from the current-quarter guide and keeps the stock bid during pullbacks.
Key Risk: Regulatory or legal action forces Nvidia to slow/stop buybacks, removing the EPS support.
Nvidia stock has pared back some of the gains from last week's strong earnings. Shares soared to $230 before pulling back to $220 today, even as several major announcements hit the wires. Several key catalysts now point toward the potential for a strong rebound.
Nvidia, the biggest company in the world, has made some important announcements that may boost its stock in the near term. One of the deals came today, when Lambda, a company that Nvidia backs, announced a $35 billion deal with Anthropic. This project is being developed by Hut 8, will have 350 megawatts, and will use Nvidia GPUs and other products.
In addition to this, Nvidia announced strong financial results last week. Its revenue jumped by 106% in the last quarter to $86 billion and boosted its forward guidance. It also predicted that its revenue will jump to $108 billion in the current quarter.
Based on its historical performance, this means that its revenue will be higher than its guidance. In this case, chances are that it will make over $112 billion since management tends to be highly conservative. The same will happen in terms of its earnings.
Further, and most importantly, the company’s guidance was stronger than expected. Its revenue for the next financial year is expected to grow by 77%, higher than the 44% that analysts were expecting.
This growth has helped the company to repurchase millions of shares. It repurchased shares worth $26 billion in the second quarter and has $99 billion remaining in its obligation. Nvidia has reduced its outstanding shares to 24.15 billion, much lower than 25.06 billion in 2022.
Share repurchases helped to boost a company’s performance by increasing the earnings-per-share (EPS). This happens as the company reduces the number of shares in circulation, which also boosts the amount of dividends they receive.
In the perfect space, a company like Nvidia that is growing this fast and has a strong market share should have a high valuation multiple. This is not the case with Nvidia, a company whose valuation metrics are in line with the broader market.
The company has a forward price-to-earnings ratio of 23, much lower than its five-year average of 42. This multiple is also in line with that of the S&P 500 Index.
At the same time, the company has a Rule of 40 multiple of 128% based on the free cash flow margin. Based on the operating and net margins, the multiple is 172% and 168%, respectively. A company is said to be cheap whenever the multiple is above 40%.
These fundamentals explain why analysts are highly bullish on the company, especially after the last earnings report. The average estimate among analysts is $322, up by nearly 50% from the current level. The most bullish analyst is Raymond James’ Simon Leopold who has a target of $515.
Nvidia stock chart | Source: TradingView
The weekly chart shows that Nvidia shares have stalled in the past few weeks. It has remained above the 50-week exponential moving average (EMA) and the Supertrend indicator.
The stock is also above the ascending trendline that links the lowest level since May 5 this year. Therefore, the most likely scenario is where the stock continues rising, potentially to the psychological level of $300.
Nvidia ve 2. čtvrtletí více než zdvojnásobila tržby na 96,2 miliardy USD a upravený zisk na akcii vzrostl o 120 % na 2,22 USD. Akcie ale do konce pátku po zveřejnění výsledků klesly o 5,5 %.
"This time is different," explained Nvidia (NVDA +1.49%) CEO Jensen Huang in a recent interview, in response to concerns about a pending artificial intelligence (AI) downturn.
And after Huang announced blowout quarterly numbers on Wednesday, it looked for a hot second as if things really were different. On Thursday, it seemed as if investors were finally rewarding the tech giant for its incredible outperformance, rather than sending shares lower, which is what happened after each of Nvidia's last four consecutive blowout earnings reports.
Unfortunately, it didn't last. By the end of the day on Friday, Nvidia's shares had fallen 5.5%. That leaves them barely above their pre-earnings close.
Why can't Nvidia seem to catch a break from the market? And is Huang right that things are about to change in a big way for Nvidia, and for AI in general? Here's what investors need to know.
Image source: Nvidia Corporation.
Nvidia's incredible quarter Nvidia really couldn't have done much better in its second quarter. Revenue more than doubled from the prior year to $96.2 billion, beating expectations. Adjusted earnings per share jumped 120% year over year to $2.22, also well above the anticipated $2.09.
Adjusted net income came in at $54 billion. That's a year-over-year increase of $29.2 billion, which -- as my colleague Jeremy Bowman pointed out on Wednesday -- is roughly equal to Apple's entire Q2 net income. In other words, Nvidia added an Apple's worth of profitability to its results in one year.
But the biggest news, which seemed to have pushed the stock higher after the report was released, was the company's projection of 70% revenue growth in 2027, smashing analysts' forecast of 44%. Nvidia's shares opened 6% higher on Thursday, and surged to an intraday high of $230.39 -- a 9.9% gain.
The fact that Nvidia's stock has already given up almost all of its post-earnings gains shows how skeptical investors are of continued AI investment. So, why does Jensen Huang think this time is different for Nvidia?
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Is it really all that "different"? One of the most dangerous phrases in investing is "this time is different." Research shows that investors often overestimate the impact of a potentially disruptive technology on an industry and underestimate how long it will take for new technologies to deliver significant returns on investment.
But Huang thinks we are now hitting an inflection point in AI technology that will change how computing functions, causing a major upheaval in the demand cycle.
"This time is different because this is not demand-driven. This time is different because it's not seasonal," he explained. "This is industrially driven, meaning the fundamental technology of computers is changing."
Image source: Getty Images.
Huang believes that while computer infrastructure upgrades have previously been cyclical -- largely consisting of swapping out aging hardware for newer models of the same type -- AI represents a fundamental shift in how computers function. It will require systemwide upgrades and exponentially more infrastructure to handle the massive computer workloads AI requires.
If he's correct -- and Nvidia's results have borne out his thesis so far -- Nvidia looks incredibly undervalued at its current price, and investors may kick themselves for selling the stock after the last five earnings reports instead of buying more.
OneRail spouští platformu OmniStar s technologií Nvidia, která má retailerům výrazně zrychlit rozhodování o doručení a zkrátit výběr trasy z 20 minut na 2,5 minuty.
Logistics company OneRail is launching a platform using Nvidia's artificial intelligence software to help retailers make faster decisions on the most efficient delivery options at scale, CNBC has learned.
The new platform, called OmniStar, allows retailers to use AI to evaluate all of their delivery options and identify the best one for each individual order, using OneRail's proprietary data.
The last-mile delivery company told CNBC the new platform will allow smaller companies to deliver at scale and improve margins to compete with the retail giants of the world, including Amazon and Walmart.
As e-commerce grows, retailers have had to keep up with surging demand and invest in nimble supply chains to optimize their efficiency. But those manual processes are often fragmented across the retailer and the logistics businesses.
"If you don't have the ability to make lightning-fast decisions, you're giving up margin," OneRail CEO Bill Catania told CNBC. "Last-mile fulfillment is expensive."
Where choosing the best routing for a package may have previously taken 20 minutes, OneRail said its platform can do it in two and a half minutes leveraging AI. That time saved means retailers can operate larger, faster and more precise supply chains, Catania said.
"That's where the artificial intelligence comes in. It's making those kinds of decisions extremely rapidly, and so to do that, that's where the Nvidia hardware and the software comes in and really makes this thing work at scale," said David Daeschler, the head of AI at OneRail.
Daeschler said the company began partnering with Nvidia three years ago to explore ways to incorporate AI into the logistics process.
"The result is a real-time decision layer that can route an order to the right carrier and delivery mode at the right cost, rather than relying on static rules or manual planning," said Azita Martin, Nvidia's vice president and general manager of retail and consumer packaged goods.
Catania said OneRail's proprietary data, which includes a network of more than 12 million drivers and over 1,000 logistics partners, is being used to train the AI on the most efficient routes and delivery options.
"It's for the benefit of them and us: We operate more efficiently. They save money and provide a better customer experience," Daeschler said.
The company told CNBC its platform has already been deployed with some customers, including a large tire distributor that saw OmniStar save the company a run rate of $40 million over three years because it's able to use its resources more efficiently.
It's also estimating the platform will surpass $6 billion in gross merchandise volume in the fourth quarter.
Nvidia's Martin said the platform will allow retailers to make much faster decisions.
"For retailers, the bigger value is the ability to evaluate more scenarios, respond more quickly as conditions change and improve delivery economics without sacrificing service," Martin said.
OneRail said the platform could help smaller retailers compete more effectively on delivery speed and efficiency.
OneRail announced a partnership earlier this year with FedEx to bring same-day delivery services to all of its customers, joining a race of retailers trying to offer their customers the best and fastest delivery options. That partnership will now allow OneRail to better work with smaller businesses as well, Catania added.
"We're kind of doing for delivery what ChatGPT and Anthropic have done for words – it all works the same way," Daeschler said. "They give people more access to knowledge. We're giving people access to being able to do delivery in a way that's affordable. … That's all done based on original models, training on data that we have, just like words on the internet."
NVIDIA rozšiřuje NVLink na trhu zakázkových AI čipů a podle analytika tím přímo zvyšuje tlak na Broadcom. Prvním zveřejněným zákazníkem je Amazon.com Inc.’s Annapurna Labs.
NVIDIA Corp. (NASDAQ:NVDA) stock fell more than 1% in Tuesday’s premarket trading as investors pulled back from large-cap technology stocks. Nasdaq futures dropped 1.02%, while S&P 500 futures fell 0.59%.
The broader market weakness came as analysts assessed NVIDIA’s growing push into the custom artificial intelligence chip market. That strategy could open a new growth channel for NVIDIA while increasing competitive pressure on Broadcom.
NVIDIA’s NVHBM Push Threatens Broadcom’s AI Chip Position, Analyst SaysNVIDIA is expanding deeper into the custom artificial intelligence chip market with NVHBM, according to Counterpoint Research analyst Neil Shah.
The technology could challenge Broadcom Inc. (NASDAQ:AVGO) while strengthening NVIDIA’s influence over AI infrastructure.
NVHBM moves the memory controller from the accelerator chip into the base die of a high-bandwidth memory stack. It also replaces the standard JEDEC memory bus with NVIDIA’s proprietary die-to-die connection.
Shah said the approach gives NVIDIA control over the memory controller, interface and link protocol. Memory suppliers would manufacture the base die based on NVIDIA’s design.
NVIDIA Expands Beyond GPUsThe strategy could allow NVIDIA to sell its networking fabric, rack architecture, software and memory subsystem to companies developing custom accelerators. NVIDIA would not need to design the accelerator itself.
Amazon.com Inc.’s (NASDAQ:AMZN) Annapurna Labs is the first disclosed customer. It plans to use NVHBM with its Trainium4 AI chip.
MediaTek also adopted NVIDIA’s NVLink Fusion platform. Shah said this gives NVIDIA another channel for reaching custom chip customers.
However, the analyst questioned some of NVIDIA’s performance claims. The company compared NVHBM with HBM4E, which is not yet shipping, and did not disclose its full testing baseline. Shah said only the claimed 67% reduction in physical interface area can be checked using available pin-count data.
Broadcom Faces New CompetitionShah said NVHBM places NVIDIA directly in a market served by Broadcom and Marvell Technology Inc. (NASDAQ:MRVL).
Broadcom could benefit from wider adoption of custom AI chips. Still, it lacks a comparable base-die offering, according to the analyst.
Marvell outlined a similar architecture in December 2024 and has joined NVLink Fusion. That leaves Broadcom as the only major custom chip design company without a direct NVIDIA partnership, Shah said.
NVIDIA Technical Analysis And Analyst OutlookNVIDIA remains in a longer-term uptrend despite the early decline. The stock trades 4.5% above its 50-day simple moving average of $208.62. It is also 11.3% above its 200-day SMA of $195.96.
However, NVIDIA trades about 0.3% below its 20-day SMA of $218.75. That level could influence the stock’s near-term direction.
The relative strength index stands at 54.25. This neutral reading suggests the stock is consolidating. It is neither overbought nor oversold.
The moving-average structure remains bullish. The 20-day SMA sits above the 50-day average. Meanwhile, the 50-day SMA remains above the 200-day average.
Key resistance stands near $228. A stronger rally could put the 52-week high of $236.54 back in focus. Support sits near the 200-day SMA, followed by the $190 level.
The stock trades at 27.9 times earnings. That valuation reflects high expectations for continued growth. NVIDIA carries a consensus Buy rating and an average price forecast of $349.15.
Citigroup and Mizuho raised their price forecasts to $315 on Aug. 27. JPMorgan increased its forecast to $320. Citigroup maintained a Buy rating, Mizuho kept an Outperform rating and JPMorgan maintained an Overweight rating.
NVDA Price ActionNVIDIA shares fell 1.35% to $217.80 in Tuesday’s premarket session, according to Benzinga Pro.
NVIDIA pozastavila plán, podle něhož chtěla z každého čipu inkasovat příjem podruhé prostřednictvím výnosů z cloudu, po interních varováních před antimonopolním rizikem. Program byl oznámen teprve před několika týdny.
Nvidia announced a program to collect revenue on the same chip twice, once at sale and again through ongoing cloud profits, then paused it weeks later after internal warnings about antitrust exposure. The retreat raises a question the market has…
NVIDIA’s (NASDAQ:NVDA | NVDA Price Prediction) $96.22 billion quarter and 105.85% revenue growth would normally end the conversation. Instead, management disclosed a plan to earn a second time on every chip sold to smaller cloud providers. Days later, parts of the initiative had been paused less than two months after its announcement, with some employees warning internally about potential antitrust scrutiny.
NVIDIA still runs the most profitable franchise in semiconductors, but the speed of the retreat is the story worth examining.
How the Same Chip Was Supposed to Pay Twice The mechanism is unusual. NVIDIA would guarantee or rent unused capacity from a smaller cloud provider, which gave lenders the certainty needed to finance the hardware purchase.
CFO Colette Kress described it directly on the call: “NVIDIA provides a take or pay commitment on a portion of the facility’s capacity, a minimum revenue guarantee that gives lenders the confidence to underwrite the project, and in exchange, we share in a portion of the Neocloud’s revenue earned above that floor.”
Above the guaranteed floor, NVIDIA would collect 50% of cloud revenue. Management summarized the economics without euphemism: “In this model, we get paid twice, once on the hardware sale and again through the share of rental revenue.”
A capital-starved cloud provider gets financeable, NVIDIA books the sale, and then rides the utilization curve on hardware it already sold. The structure effectively converts a one-time transaction into a recurring revenue stream tied to compute usage, without requiring NVIDIA to operate the infrastructure itself.
Why the Math Was Too Good to Ignore NVIDIA does not need this program to justify its $5.25 trillion market cap. Data Center revenue was $89.023 billion last quarter, up 117%.
But the second revenue stream would layer recurring economics onto a transactional business. Management said it could “drive billions in revenue over the medium to long term.”
It also unlocks a customer tier that hyperscalers cannot serve. Jensen Huang argued the non-hyperscaler market is “half of the picture” and largely invisible to investors.
NVIDIA’s $108.5 billion in guarantee obligations and a partnership with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to mobilize over $500 billion in third-party capital show the scale of ambition. Kress said balance-sheet-supported labs would account for “roughly a quarter of our business next year.”
Where the Antitrust Problem Starts The problem is control. If NVIDIA decides which providers get guaranteed capacity, it also decides which providers can borrow, build, and compete.
Management preempted the criticism: “We recognize the scale of this support, and we know some will call this circular financing. We see it differently.”
Seeing it differently is not the same as regulators seeing it differently. Internal warnings about antitrust exposure preceded any external agency review, which is telling.
Huang leaned on fungibility as the risk answer: “The NVIDIA Compute platform is fungible and durable and can be redeployed to support other customers.”
That defends NVIDIA’s downside but does not defend against the argument that the company is picking winners in the downstream compute market it already dominates on the supply side. Regulators tend to focus on gatekeeping power rather than on whether the gatekeeper can find alternative buyers, and that distinction is where the program becomes vulnerable.
What the Pause Actually Signals Pausing a program within weeks of announcing it is the kind of decision a legal team forces on a strategy team. The initiative is not dead. It could be redesigned, narrowed, or folded into the broader third-party capital platform.
Shares closed at $217.55, up 14.49% over the past month. Analysts have an average target of $305.79, with 48 buy ratings and 2 holds.
The market is not pricing regulatory risk here, which is itself a position worth questioning at 26x forward earnings. Riding an AI rally is fine as long as you have thought through the exit, and we made the case for both halves in a free bubble survivor’s handbook.
NVIDIA found a genuinely clever way to unlock demand that would not otherwise exist, but the design pushed control one step further than a dominant supplier can comfortably go. Watch whether the revenue-share language returns in narrower form, or whether the $500 billion third-party capital vehicle quietly absorbs what the direct guarantees were meant to do.
Contact [email protected] for any questions or corrections.
OpenAI má nový čip Jalapeno, který v prvních testech překonává nejlepší čipy Nvidie. Investor Jordi Visser říká, že klíčová vzácnost Nvidie může za pět až šest let zmizet.
OpenAI just built an AI-designed chip that already beats Nvidia's best in early tests, and one macro investor has pinpointed exactly when Nvidia's most valuable competitive advantage disappears entirely.
Two days after the biggest quarter in semiconductor history, macro investor Jordi Visser told listeners on The Pomp Podcast that the scarcity holding up NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) has an expiration date. His argument separates near-term results from terminal value, laid out in a single line: OpenAI’s new Jalapeno silicon “a chip designed by OpenAI, by AI” and “is not going to disrupt their numbers this year, it’s not going to disrupt them next year.” Then the pivot: “Nvidia right now has scarcity, but at some point, five years from now, six years from now, it won’t have scarcity.” NVIDIA’s market cap of $5.31 trillion reflects future discounted cash flows. If the market decides GPUs are optional in a decade, that value contracts.
Record Quarter Priced Into Every Model NVIDIA’s Q2 FY2027 report delivered. Revenue landed at $96.22 billion, up 105.8% year over year, with Data Center revenue of $89.02 billion and non-GAAP EPS of $2.22. Supply commitments jumped to $279 billion, largely memory tied to Vera Rubin. See the Q2 FY2027 8-K exhibit for the full breakout.
Jensen Huang told analysts fiscal 2028 revenue should grow approximately 70% year over year, and that “at this moment, we have supply for 70%. We have more supply than 70%, but about 70%. Our demand is much higher than that.” The stock dropped 4.57% on Aug 28, 2026, from $227.98 to $217.55, though shares are up 16.79% year to date and trade at a forward P/E of 26.
Jalapeno Already Tests Better on TCO Chip analyst and 247 Wall Street contributor Eric Bleeker cited a SemiAnalysis headline reading “OpenAI Jalapeno better than Nvidia Blackwell,” noting initial tests point to superior total cost of ownership compared to Blackwell. Jim Cramer on CNBC added: “Nvidia invested 30 billion in OpenAI” and OpenAI is “downright gleeful about inventing this new chip, Jalapeno, that can compete with Nvidia’s.”
Chamath Palihapitiya made the structural case on All-In: “You’re going to look at these big companies in five years, they’re all going to have their own cloud, they’re all going to have their own models, they’re all going to have their own silicon, they’re all going to have their own data centers.”
Two Timelines Investors Must Reconcile Huang counters that OpenAI’s existing and planned commitments represent approximately 12 gigawatts of NVIDIA compute through 2030, and AI-lab demand should contribute roughly a quarter of NVIDIA’s business next year. Visser agrees on the near term, calling the current setup “the sweet spot of the infrastructure build out” with “another three to five years of needing a lot.”
The terminal value debate is where the fight lives. If custom silicon peels off even a quarter of hyperscaler workloads by 2031, the DCF supporting today’s price gets rewritten downward. If Vera Rubin’s economics of $40 billion per gigawatt keep expanding, the moat holds.
Where the AI Compute Dollars Are Landing Eli Lilly (NYSE:LLY) cited a co-innovation AI lab with NVIDIA for drug discovery and posted $22.97 billion in Q2 revenue with EPS of $8.38, raising FY26 revenue guidance to $85.0 billion to $87.0 billion. LLY shares are up 61.49% over one year.
Coinbase (NASDAQ:COIN) shows the flip side: Q2 revenue fell 18.51% to $1.22 billion, and the stock is down 21% year to date even with prediction-markets revenue past $100 million annualized.
For NVIDIA investors, the forward question is direct. If Jalapeno and successors take even a slice of inference workloads by 2030, does the current multiple compress before fiscal 2028 growth arrives? Watch memory pricing, hyperscaler capex mix, and how quickly OpenAI’s chips move from tests to deployment.
Contact [email protected] for any questions or corrections.
Nvidia po výsledcích za 2. čtvrtletí znovu posílila k nákupnímu bodu a vrátila se na pozici nejhodnotnější firmy na trhu s kapitalizací 5,2 bilionu USD.
Nvidia (NVDA) stock rose toward a buy point Monday, capping off a winning August after the artificial intelligence chipmaker this month broke out following a beat-and-raise report for its second quarter.
With a market cap of $5.2 trillion, Nvidia has reclaimed its crown as the most valuable company on the stock market. Apple (AAPL) was knocked off that perch recently after the stock sold off following its earnings report in July. So, is Nvidia stock a buy or sell now?
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Franklin Equity portfolio manager Jonathan Curtis breaks down why he believes the semiconductor selloff doesn’t signal a downturn, with AI demand remaining strong, chip supply still constrained and hyperscaler spending continuing to support the trade.
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Chip Stocks Got Too Hot. Now What?
On Friday, famed investor Cathie Wood's ARK Invest bought 243,707 Nvidia shares valued at around $53 million.
Late Wednesday, the AI giant posted second-quarter adjusted earnings of $2.22 a share on sales of $96 billion, up about 120% and 106% year over year, respectively. Wall Street had targeted earnings of $2.08 and $92 billion in sales. The company's current-quarter revenue projection of $108 billion topped views by $3 billion.
Management noted supply constraints through fiscal 2028 that will allow Nvidia to meet 70% of demand. Meanwhile, Chief Financial Officer Colette Kres said Nvidia's circular financing will lead to two payoffs: through its hardware sales and from its revenue share at its partners.
Partnership With Amazon
The company also solidified its partnership with Amazon (AMZN), with the e-commerce company ordering 2 million of Nvidia's processors and adopting its full-stack physical AI platform to enable its warehouse robot fleet.
Following the conference call, analysts Quinn Bolton, Neil Young and others at Needham noted that data centers – the end-market that could be Nvidia's biggest growth engine – will continue to undergo a shift toward accelerated computing and AI.
Bolton raised his targets for the third quarter to $2.46 per share and sales of $109 billion. He previously expected earnings of $2.34 and $103 billion in sales. Needham has a price target of 300 for Nvidia stock with a buy rating.
In terms of its 12-month price performance, Nvidia has outperformed just 59% of all other stocks in Investor's Business Daily's database.
Funds own 42% of the company's outstanding shares, according to IBD MarketSurge research. The stock's Accumulation/Distribution Rating of D- indicates funds have been net sellers of the stock recently. The rating measures price and volume action over the last 13 weeks.
But the AI chip behemoth has a top-level Earnings Per Share Rating of 99. Further, the stock's all-around strength, or Composite Rating, is 91.
Is Nvidia Stock A Buy?
Looking at chart signals and technical measures can help investors assess whether Nvidia stock is a buy or sell now.
Nvidia stock on Thursday broke out of a cup-with-handle with a 227.92 buy point following an earnings beat. The stock is below the pivot on Monday.
Please follow VRamakrishnan on X/Twitter for more news on the stock market today.
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NVIDIA a MediaTek prohloubily spolupráci na AI platformách od edge po cloud. MediaTek přijme NVLink Fusion pro vývoj vlastních XPUs a NVIDIA do něj investovala 3,5 miliardy USD v konvertibilních dluhopisech.
Companies Expand Collaboration Across Multigenerational Cloud AI Factories, Local AI Computing and Automotive MediaTek to Adopt New NVIDIA NVLink Fusion Platform, Helping Customers Take Custom XPUs to NVIDIA NVLink-Connected, Rack-Scale AI Factories SANTA CLARA, Calif., Aug. 31, 2026 (GLOBE NEWSWIRE) -- NVIDIA and MediaTek today announced a deepening of their longstanding collaboration to build the next generations of AI computing platforms — spanning AI infrastructure, local AI computing and automotive.
As part of the expanded collaboration, MediaTek will adopt the NVIDIA NVLink Fusion™ platform to provide hyperscalers, cloud service providers and frontier model developers with a prevalidated path to develop custom XPUs and bring them into NVIDIA NVLink™-connected, rack-scale AI factories.
The companies combine NVIDIA’s accelerated computing, AI, graphics and software platforms with MediaTek’s leadership in custom silicon, high-performance computing, power-efficient system-on-chip (SoC) design, advanced packaging, interconnects and connectivity.
NVIDIA has also invested $3.5 billion in convertible bonds issued by MediaTek.
NVIDIA and MediaTek are collaborating in three major areas:
AI infrastructure: MediaTek will work with NVIDIA’s NVLink Fusion ecosystem to enable customers to develop custom AI infrastructure designed to integrate with NVIDIA rack-scale systems and AI factories.Local AI computing: The companies will continue to collaborate on multiple generations of NVIDIA RTX Spark™ and DGX Spark™ PC chips, powering consumer PCs, AI developer supercomputers and enterprise-class workstations, that integrate NVIDIA GPUs with MediaTek SoCs.Automotive: MediaTek and NVIDIA will continue developing platforms for AI-powered, software-defined vehicles in the era of physical AI.
“AI is transforming every computing platform — from the world’s largest AI factories to the PC and the car,” said Jensen Huang, founder and CEO of NVIDIA. “MediaTek is one of the world’s great semiconductor companies, with exceptional expertise in system-on-chip design, connectivity, leading performance and power efficiency. Together, we’re building platforms that bring NVIDIA accelerated computing to new markets and give customers the freedom to create differentiated AI systems at enormous scale.”
“MediaTek and NVIDIA share a vision for making advanced AI computing pervasive across the technology landscape,” said Rick Tsai, vice chairman and CEO of MediaTek. “NVIDIA’s investment strengthens a collaboration that spans cloud AI infrastructure, local AI computing and automotive in the era of physical AI. By combining NVIDIA’s leadership in accelerated computing and AI software ecosystem with MediaTek’s expertise in a diverse AI technology portfolio from edge to cloud, and our leadership position in custom silicon, we can accelerate innovation for our customers.”
Building Custom AI Infrastructure With NVLink Fusion Platform
MediaTek will offer the NVLink Fusion platform as a design foundation for customers developing custom AI accelerators, enabling their platforms to evolve alongside future NVIDIA architectures.
The NVLink Fusion platform provides a prebuilt, prequalified and system-prevalidated foundation for multi-die XPU development — accelerating the path from silicon and advanced packaging to rack-scale systems.
The NVLink Fusion platform brings together the critical technologies surrounding a custom XPU, including:
NVIDIA NVLink Fusion chiplet, connecting XPUs to the NVIDIA NVLink scale-up fabric using NVIDIA photonics or electrical interconnects.NVIDIA NVLink-C2C, providing high-bandwidth, energy-efficient connectivity between XPUs, NVIDIA Rosa CPUs and other compatible processors.NVIDIA NVHBM, integrating customized memory capabilities to increase bandwidth and energy efficiency while dedicating more silicon area to compute.
Building a custom accelerator is only the beginning of deploying custom XPUs in rack-scale AI factories. Integrating multi-die architectures, advanced packaging, high-speed SerDes, HBM, I/O and scale-up networking into a manufacturable, production-ready system requires extensive chip-to-rack engineering, qualification and supply-chain support.
Rather than engineering and qualifying every element surrounding a custom XPU from the ground up, customers can focus resources on the differentiated compute that defines their platforms while relying on NVIDIA and MediaTek for the NVLink connectivity, memory architecture, packaging, manufacturing and rack-scale technologies required for production deployment.
Customers can bring their XPU designs to MediaTek and tailor connectivity, memory, packaging, performance and power characteristics to their workloads and infrastructure requirements.
Additionally, MediaTek is part of the broader NVIDIA NVLink Fusion ecosystem, which enables hyperscalers, cloud service providers and frontier model developers to seamlessly connect custom XPUs to NVIDIA’s AI infrastructure.
With NVLink Fusion, partners can leverage NVIDIA’s proven scale-up and scale-out technology stack and ecosystem, as well as the NVIDIA MGX™ rack-scale architecture, to reduce development complexity, increase performance and accelerate time to market for semi-custom AI factories.
Bringing Supercomputers to Local AI Computing
NVIDIA and MediaTek are collaborating to advance local AI computing for the era of generative and agentic AI, combining NVIDIA’s leadership in accelerated computing with MediaTek’s expertise in high-performance, power-efficient system-on-chip design.
MediaTek collaborated with NVIDIA on the GB10 Grace Blackwell Superchip that powers NVIDIA DGX Spark, which combines an NVIDIA Blackwell GPU and Grace CPU connected by NVLink-C2C to bring powerful AI capabilities to edge systems. The companies have extended their collaboration with NVIDIA RTX Spark to power the next generation of consumer PCs redefined for the AI era.
Advancing the AI-Defined Vehicle in the Era of Physical AI
Additionally, NVIDIA and MediaTek are collaborating across multiple generations to advance AI-powered, software-defined vehicles, combining MediaTek’s automotive system-on-chip design leadership with NVIDIA’s accelerated computing, AI, graphics and software.
MediaTek Dimensity Auto platforms integrate NVIDIA technologies to deliver advanced AI and NVIDIA RTX™ graphics for intelligent vehicle cockpits and can work alongside NVIDIA DRIVE AGX™. The companies continue to build on this foundation across future generations, creating a scalable architecture for increasingly intelligent, AI-defined vehicles.
About MediaTek
MediaTek (TWSE: 2454) is a global leader in fabless semiconductor design, powering AI from the edge to the cloud.
About NVIDIA
NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing.
For further information, contact:
Allie Courtney
Corporate Communications
NVIDIA Corporation [email protected]
Toshiya Hari
Investor Relations
NVIDIA Corporation [email protected]
MediaTek Forward-Looking Statements
The information contained in this press release relates solely to the business collaboration between MediaTek and NVIDIA and is intended to describe the nature and context of the collaboration between MediaTek and NVIDIA. It does not constitute, and should not be construed as, any business, operational, financial, revenue, earnings, or other forecast information under applicable Taiwan laws and regulations. The implementation, success, and commercial outcome of the collaboration, including any related product development activities, are subject to various uncertainties and risks. Important factors include the impact of competitive products and pricing, timely acceptance of products design by our customers, timely introduction of new technologies, ability to ramp new products into volume, industry wide shifts in supply and demand for semiconductor products, market oversupply, availability of manufacturing capacity, financial stability in end markets, potential difficulties in talents retention, unexpected costs and expenses, global economic conditions or non-economic conditions and any other risks factors. MediaTek makes no representation, warranty, or assurance regarding the achievement of any anticipated objectives, milestones, performance, or results arising from the collaboration. Investors are advised to exercise independent judgment and conduct their own evaluation before making any investment decision. Any investment decision should not be based solely on the information contained in this press release.
MediaTek, MediaTek logo, and Dimensity Auto are trademarks and/or registered trademarks of MediaTek Inc. All other company names, product names, service marks, and logos referenced herein may be trademarks or registered trademarks of their respective owners.
NVIDIA Forward-Looking Statements
Certain statements in this press release including, but not limited to, statements as to: expectations with respect to NVIDIA’s partnership with MediaTek, and the benefits and impact thereof; expectations with respect to growth, performance, availability, and benefits of NVIDIA’s products, services and technologies, and related trends and drivers; expectations with respect to technology developments, and related trends and drivers; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing products and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; NVIDIA’s ability to realize the potential benefits of business investments or acquisitions; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of reports filed with the SEC are posted on NVIDIA’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.
Nvidia ve 2. fiskálním čtvrtletí zvýšila tržby meziročně o 106 % na 96,2 miliardy USD a zisk na akcii o 128 % na 2,46 USD, obojí nad odhady. Historicky ale její akcie v září klesaly v průměru o 0,8 %.
During its fiscal 2027 second quarter (ended July 26), Nvidia (NVDA -4.58%) reported a year-over-year revenue gain of 106% to $96.2 billion. Diluted earnings per share soared 128% to $2.46. These two headline figures came in ahead of Wall Street estimates. Shares are up 8% since the announcement (as of Aug. 28).
Nvidia remains the dominant artificial intelligence (AI) enterprise. And the latest numbers support the claim that demand for its data center chips isn't softening. Investors that were bearish have lost out on big gains.
But history says that the month of September could be a down period for this AI stock.
Image source: The Motley Fool.
Past data doesn't support a huge gain in September September is historically a weak month for the S&P 500 index. Over the 10-year period from 2016 through 2025, the closely watched benchmark posted an average loss of 1.3% in September. This didn't prevent the index from posting a fantastic total return during that time.
Nvidia tracks similarly. Over the same period (2016 through 2025), the technology stock's price declined an average of 0.8%.
Investors should come away with no clear takeaway. It's impossible to predict how Nvidia shares will perform in September. The business continues to operate at full strength from a fundamental perspective. This momentum can lift the stock price.
However, inflation remains a problem for the economy. And there's still a chance that the Federal Reserve raises the Fed funds rate before the year ends. This could pressure the equity market's performance as investors adopt a downbeat view of the tighter monetary policy.
Set a five-year time horizon It's so easy for investors to get caught up in the short term. There is a constant flood of information. While paying attention to these things can make you feel very knowledgeable about the companies in your portfolio or on your watch list, it distracts from what really matters.
Spend less time thinking about what September will bring. Instead, focus your attention on the next five years. This is the correct time horizon to adopt before deciding whether to buy a particular stock.
Nvidia shares soared 901% in the past five years. Given that it's now a $5.5 trillion company, I don't believe it's realistic to expect a similar return over the next 10 years.
But that doesn't mean investors should completely disregard the stock. There are some very compelling bull-case arguments to look at.
Nvidia's growth continues to be exceptional. And sell-side analysts believe the top line will expand at a 58% yearly rate between fiscal 2026 and fiscal 2029.
This is one of the most profitable enterprises on Earth. A supply-and-demand imbalance, resulting in sustained pricing power, supported a 62% net profit margin in the second quarter.
After such a jaw-dropping performance, you might initially assume the current valuation is expensive. This is far from the truth, though. Investors can buy this "Magnificent Seven" stock at a forward price-to-earnings (P/E) ratio of 23.9. This is only a 14% premium to the S&P 500 index.
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This setup makes Nvidia appear like a no-brainer buying opportunity. The financials are impressive. And the valuation is attractive.
But the best investors put in the effort to understand the risks. Any business that was registering the revenue growth and profitability that Nvidia was would likely command a valuation that's a significant premium to the benchmark index. The market must be worried about something.
I believe the chief risk relates to the durability of the AI infrastructure build-out. On the Q2 2027 earnings call, Chief Financial Officer Colette Kress mentioned that the five top hyperscalers will spend $1.3 trillion on capital expenditures in 2027.
These is an exciting forecast. However, there is a chance that this spending boom slows sooner than the bulls hope. A lot of capital is riding on AI delivering product and service innovation and new economic activity. If it fails to deliver on its promise, you can bet that money flowing to AI labs, hyperscalers, and the chip sellers will take a hit.
This risk should not be ignored even though it's still worth taking a chance on Nvidia shares right now.
Nvidia podle článku není výrazně nadhodnocená, protože její ocenění je u víceletých minim a růst i dominance v AI dál pokračují. Management zároveň čeká ve fiskálním roce 2028 růst tržeb asi o 70 %.
I do not think Nvidia (NVDA -4.58%) is wildly overvalued right now, and that's after a day when the stock posted strong earnings and management issued a bullish forecast, sending the stock up 8.7%. I don't think it's overvalued because its current valuation multiple is near multiyear lows, while its earnings and AI dominance are still compounding at rates that make today's price look reasonable. By 2028, if management delivers anything close to management's current guidance, this stock will be a great buy now.
When I look at Nvidia, I start with the basic math. The stock trades around a mid-30s trailing price-to-earnings ratio and a low-20s forward price-to-earnings ratio, levels that are actually below its 10-year average and far under the 50-plus multiples it carried at earlier stages of the AI boom. On top of that, its price-to-earnings-to-growth (PEG) ratio, which compares the valuation to expected growth, sits near 0.5, a signal that the market is not aggressively overpaying for the growth analysts are modeling over the next few years.
In plain English, investors are paying a premium, but it is a smaller one than they used to pay for Nvidia, and it has come down even as the business has exploded.
Image source: Getty Images.
The scale of the current business This is not a story stock on a few billion dollars of revenue. In its most recent fiscal year, Nvidia generated over $250 billion in total revenue, up roughly 65% year over year, with data center GPUs now responsible for the overwhelming majority of the business. Independent estimates put data center and AI accelerator revenue at $190-plus billion, with that segment representing around 90% of total sales. At the same time, Nvidia still controls roughly three-quarters of global AI accelerator revenue, even after its share has fallen from a peak near 87% as AMD and hyperscaler custom chips start to nibble at the edges.
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What the next few years look like Nvidia's valuation will depend less on today's multiple than on whether it can deliver the growth investors expect through 2028.
Analysts see revenue reaching about $390 billion in 2027 and more than $550 billion in 2028, with annual sales growth of roughly 24% to 25%. Management's outlook is even stronger: about 70% growth in fiscal 2028, which could put revenue near $670 billion.
If Nvidia keeps its gross margin in the low-70% range, much of that added AI revenue could turn into profit and free cash flow. The AI accelerator market is expected to grow from more than $200 billion in 2026 to over $430 billion by 2035. Nvidia may lose some share as competitors gain ground, but its revenue can still rise sharply if overall spending continues to expand. In that case, the stock would not need a higher P/E multiple to support today's price. The bigger risks are execution, whether AI spending holds up, and whether Nvidia can maintain its lead as competition grows.
What could break this thesis? On top of this competition, if hyperscaler custom silicon gains share faster than expected, or if AI demand normalizes rather than compounding, the earnings path I am describing becomes much flatter, and today's valuation could start to look stretched. Regulatory pressure, export controls, or a major shift toward cheaper inference hardware could also dent margins and challenge the idea that 70% growth is sustainable beyond a year or two.
But given the data I have today, I see Nvidia as richly valued yet not absurdly priced -- and that's even after a strong day like Aug. 27. By 2028, I think the debate will be less about whether it was overvalued in 2026 and more about whether investors gave enough credit to the earnings power of a company that effectively became the default AI compute platform for the world.
Nvidia ve 2. čtvrtletí fiskálního roku 2027 zvýšila výnosy na 96,2 miliardy USD, což překonalo odhad 92,2 miliardy USD. Zároveň očekává ve fiskálním roce 2028 růst výnosů alespoň o 70 %.
After the close of trading on Aug. 26, Nvidia (NVDA -4.58%) reported a set of operating results for its fiscal 2027 second quarter (ended July 26, 2026) that blew away Wall Street's expectations, and the company also unexpectedly offered some very bullish forward revenue guidance for fiscal 2028. As a result, Nvidia's stock price soared by almost 9% the very next day.
There is a long list of reasons why Nvidia stock is still a buy, but there is also room for caution right now, particularly surrounding the deals that management is cutting with many of the company's biggest artificial intelligence (AI) customers. So, before investors buy the stock, here's a breakdown of the good news and the bad news.
Image source: Nvidia.
The good news: Rapid growth and an attractive valuation Nvidia supplies the world's best graphics processing units (GPUs) for data centers, which are the main chips used in AI training and inference workloads. The company's new Vera Rubin systems, which include Rubin GPUs, Vera central processors (CPUs), and a series of advanced networking components, provide up to 30 times more performance per megawatt than its previous Blackwell Ultra systems, highlighting the sheer pace of innovation.
Nvidia says Vera Rubin systems will also reduce inference token costs by a staggering 97% compared to Blackwell Ultra. Inference tokens are the text, images, or computer code generated by an AI model in response to a query, so these new chips will dramatically reduce the cost of deploying AI software. This might encourage more AI usage while making data center operators more profitable, which will only increase demand for Nvidia's chips.
Wall Street expected Nvidia to generate $92.2 billion in revenue during its fiscal 2027 second quarter, but the company blew that away by bringing in $96.2 billion, a whopping 106% increase from the year-ago period. The data center segment accounted for $89 billion of that total, and it grew at an even faster rate of 117%.
The global shortage of AI chips and components is giving Nvidia an unprecedented ability to dictate prices, which is also a massive tailwind for its bottom line. As a result, its adjusted (non-GAAP) earnings surged by 120% to $2.22 per share during the second quarter.
That brings me to Nvidia's valuation; the company has now delivered adjusted trailing 12-month earnings of $7.01 per share, placing its stock at a price-to-earnings (P/E) ratio of just 34.9. That is a steep discount to its 10-year average of 61.5, suggesting it might be undervalued right now.
Data by YCharts.
Moreover, Nvidia just told investors to expect revenue growth of at least 70% in fiscal 2028. The company never issues guidance a year in advance, so this caught Wall Street's attention in the best possible way.
The bad news: Concerning circular financing deals The numbers can vary based on location, but building a one-gigawatt data center can cost around $38 billion, with the bulk of that money going toward GPUs and components. Nvidia says the top five hyperscalers, which include the likes of Microsoft and Amazon, will spend a combined $800 billion on AI infrastructure this year, and then a further $1.3 trillion next year. But smaller AI labs are struggling to compete because they simply don't have the same financial resources.
As a result, Nvidia is helping them achieve their goals by investing directly into their companies, and also by partially financing their purchases of GPUs and other hardware. These deals are often called "circular" because Nvidia is basically funding the sale of its own products.
According to the latest guidance from chief financial officer Colette Kress, around 25% of Nvidia's sales in fiscal 2028 will come from customers it has financed in some way. Since the company's revenue could top $670 billion next year, around $168 billion could be funded by its own balance sheet. To put it another way, a huge chunk of Nvidia's forecasted growth is expected to come from customers who don't necessarily have the money to pay for its products up front.
Nvidia has invested in practically every major AI lab, including OpenAI, Anthropic, xAI, Mistral AI, and Perplexity. But these early-stage companies continue to lose truckloads of money while they race to build the best models and attract the most customers, so although Nvidia says its circular financing agreements present a low risk, I think its high degree of ongoing exposure could get really uncomfortable if the AI boom hits a speed bump. That will be especially true if similar deals account for even more of its sales beyond fiscal 2028.
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The verdict Based on its attractive valuation and the company's rapid growth, Nvidia stock could be a great addition to a diversified portfolio, particularly one that already has a low level of exposure to AI stocks.
Nvidia is likely to remain the undisputed leader in AI hardware for years to come, but it's important for investors to pay close attention to further developments in circular financing. If these deals become a much bigger part of the company's revenue in the future, it might be a good idea for investors to trim their position to reduce risk.
Nvidia oznámila čtvrtletní dividendu 0,25 USD na akcii; pro získání 100 USD je potřeba držet 400 akcií. Tržby v předchozím čtvrtletí meziročně vzrostly o 106 % na 96,2 miliardy USD.
Investors seeking to earn $100 from Nvidia’s (NASDAQ: NVDA) next dividend payment will need to own 400 shares, based on its declared quarterly dividend of $0.25 per share.
With Nvidia closing at $217.55 on August 28, 2026, purchasing 400 shares would require an investment of approximately $87,020.
Shareholders who own the stock before the September 10, 2026 ex-dividend date will be eligible to receive the payout, which is scheduled for October 1, 2026.
Nvidia dividend payment schedule. Source: Dividend.com The company currently offers a forward dividend yield of about 0.46%, with a forward payout ratio of 6.44%, indicating that only a small portion of earnings is being distributed to shareholders.
The upcoming dividend follows the previous payment of $0.25 per share made on June 26, 2026. Nvidia has increased its dividend for three consecutive years, although income remains a relatively small part of the stock’s overall investment appeal.
Nvidia stock fundamentals While Nvidia maintains a dividend, the company remains primarily a growth-focused investment driven by artificial intelligence demand.
On August 26, the chipmaker reported fiscal second-quarter results that exceeded Wall Street expectations. Revenue surged 106% year-over-year to $96.2 billion, while adjusted earnings per share climbed 120% to $2.22.
Data center revenue reached $89 billion, up 117% from a year earlier, underscoring continued demand for Nvidia’s AI hardware.
Looking ahead, Nvidia expects third-quarter revenue of approximately $108 billion, which would mark its first quarter generating more than $100 billion in sales.
The technology company also projected roughly 70% revenue growth for fiscal 2028, citing strong AI infrastructure spending across hyperscalers, enterprises, and cloud providers.
The strong outlook has reinforced bullish sentiment among analysts, many of whom maintain ‘Buy’ ratings on the stock, with price targets ranging from above $300 to as high as $515.
Featured image via Shutterstock
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Nvidia čeká na výsledky za 2. čtvrtletí; trh sleduje hlavně vývoj platformy Vera Rubin a hrubou marži. Odhad tržeb je 91,85 miliardy USD a upravený zisk 2,09 USD na akcii.
Nvidia (NVDA - Free Report) will step back into the earnings spotlight after the market closes on Wednesday, August 26, when the AI chip leader reports its much-anticipated Q2 results.
Expectations are understandably elevated, but the setup looks increasingly interesting as Nvidia’s valuation has compressed despite extraordinary earnings growth.
Beyond another potential top-and-bottom-line beat, Wall Street will be focused on the Vera Rubin product ramp, gross margins, and Nvidia’s growing role in financing the massive buildout of AI infrastructure.
Investors are certainly wondering if NVDA can gain momentum with shares up a somewhat subpar 12% year to date despite sitting on enormous gains of +800% in the last five years.
Image Source: Zacks Investment Research
Nvidia's Q2 ExpectationsThe Zacks Consensus Estimate calls for Nvidia to post Q2 revenue of $91.85 billion, representing a whopping 96% increase from $46.74 billion in the year-ago period. Adjusted earnings are projected at $2.09 per share, up 99% year over year.
Those projections are essentially in line with Nvidia's own guidance for $91 billion in revenue, plus or minus 2%, which notably assumes no Data Center compute revenue from China. Data Center sales remain the primary growth engine, with the Zacks Consensus calling for roughly $85.14 billion, or 107% YoY growth.
Is the Vera Rubin Ramp Taking Off?Perhaps more important than the headline Q2 numbers will be Nvidia's commentary surrounding its next-generation Vera Rubin platform, the company’s latest rack-scale AI supercomputer architecture designed to power the next era of agentic AI — systems that can reason, plan, and execute multi-step workflows at massive scale.
Nvidia announced in May that Vera Rubin was ramping into full production, with production shipments slated to begin this fall. More recently, the company said Rubin-based racks are already running at partners including CoreWeave (CRWV - Free Report) ), Alphabet’s (GOOGL - Free Report) ) Google Cloud, Microsoft’s (MSFT - Free Report) ) Azure, Oracle (ORCL - Free Report) ) Cloud Infrastructure, and Nebius (NBIS - Free Report) ).
Therefore, investors shouldn't necessarily expect Rubin to be a major Q2 revenue contributor. Instead, Wall Street will be looking for evidence that production remains on schedule, customer deployments are accelerating, and Rubin can provide another powerful growth leg as Nvidia's Blackwell series of AI chips matures. Any indication that Rubin is pulling forward orders could strengthen expectations for the second half of Nvidia's current fiscal 2027 and FY28.
Gross Margins Remain a Key CheckpointNvidia's profitability will also be closely scrutinized. Management guided for a 75% non-GAAP gross margin, plus or minus 50 basis points, essentially matching the 75% achieved during Q1.
That stability is important as investors assess higher memory and component costs associated with increasingly sophisticated AI systems. Some analysts expect modest pressure during the Rubin transition, but maintaining gross margins in the mid-70% range would reinforce Nvidia's enormous pricing power and help alleviate concerns that escalating hardware costs are eating into profitability.
Image Source: Zacks Investment Research
How Much of Nvidia's Balance Sheet Is Supporting the AI Boom?Another emerging concern is Nvidia's increasingly aggressive effort to help finance the infrastructure that ultimately purchases its chips.
Most notably, Nvidia has provided up to roughly $105 billion of financial backing tied to an OpenAI data-center project in Ohio and is investing another $1.5 billion in SB Energy to support those efforts. Importantly, the $105 billion figure is a contingent backstop involving certain lease, power, and residual-value obligations rather than an immediate $105 billion cash expenditure.
Nvidia has also teamed with major Wall Street firms on a framework intended to mobilize more than $500 billion of third-party capital for AI infrastructure, which could shift more of the financing burden away from Nvidia itself.
Still, investors have reason to monitor the exposure, even with Nvidia ending Q1 with nearly $80.6 billion in cash and equivalents, while generating an exceptional $50.3 billion of operating cash flow during the quarter.
The balance sheet remains extremely strong, but Wall Street will want greater clarity on how much capital Nvidia ultimately intends to put behind customers and AI infrastructure projects, especially if these commitments keep expanding.
Image Source: Zacks Investment Research
Nvidia's Valuation May Be More Attractive Than It LooksDespite Nvidia's massive market capitalization, its valuation no longer looks particularly excessive relative to its growth rate.
NVDA is trading at 24X forward earnings, near the low end of its five-year P/E valuation range. Furthermore, Nvidia’s PEG ratio is around 0.34 with the optimum level being less than 1.0, meaning investors are paying less than one unit of P/E multiple for each unit of expected earnings growth—a metric that can make Nvidia look surprisingly inexpensive on a growth-adjusted basis.
This valuation disconnect has caught Wall Street's attention. Bank of America (BAC - Free Report) ) has argued that Nvidia is significantly undervalued compared with other AI-compute names, while Cantor Fitzgerald has similarly suggested the market is failing to fully price in Nvidia's longer-term earnings power.
Of course, PEG ratios become less useful when growth rates are exceptionally high, but Nvidia's combination of nearly triple-digit Q2 earnings growth and a mid-20s forward P/E certainly makes its valuation harder to characterize as expensive.
Image Source: Zacks Investment Research
Bottom Line: Is NVDA Stock a Buy Before Earnings?Nvidia still has plenty to prove when it reports Wednesday. Investors will want another strong quarter, an encouraging Vera Rubin ramp, resilient gross margins, and reassurance that the company's expanding AI-financing ambitions won't create unnecessary balance-sheet risk.
That said, a 24X forward P/E looks increasingly compelling if Nvidia can sustain even a fraction of its current earnings growth rate. The long-term AI investment thesis remains strong, although elevated expectations could produce significant post-earnings volatility even if results exceed consensus estimates.
For now, NVDA lands a Zacks Rank #3 (Hold), suggesting investors may want to maintain existing positions while looking for Wednesday's report to provide the next catalyst for a more bullish stance.
Nvidia zveřejní výsledky hospodaření za 2. čtvrtletí 26. srpna a trh bude sledovat hlavně koncentraci tržeb u několika velkých zákazníků. Minule tři zákazníci tvořili 21 %, 17 % a 16 % tržeb.
Nvidia (NVDA -2.91%) is scheduled to report second-quarter earnings after market close on Aug. 26. As the biggest AI stock in the world, Nvidia's results will affect not only the company's share price but also valuations across the AI industry.
A new wrinkle will be revealed in Nvidia's upcoming earnings report. This revelation could have a sizable effect on Nvidia's stock price.
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This new detail could influence Nvidia's stock priceNvidia has become the largest AI company on the planet not by inventing AI technologies itself, but by selling its hardware to other AI businesses. The company's GPUs -- critical components that allow AI companies to train and execute their AI models -- are widely believed the be the best in the industry, with market share estimates typically at 85% or above.
Nvidia's future, therefore, relies on spending by the rest of the AI industry. But how much of this sales base consists of just a handful of hyperscalers?
Nvidia is already required to report material customers that account for more than 10% of total sales. But it isn't required to disclose the exact names of these customers. All we know is that last quarter, three customers accounted for 21%, 17%, and 16% of total revenue, respectively. It's not known, however, whether these customers are large AI companies or simply distribution intermediaries that, in turn, sell to a variety of AI customers.
Image source: Nvidia
Nvidia has warned investors of customer concentration in the past. "We have experienced periods where we receive a significant amount of our revenue from a limited number of customers, and this trend may continue," the company explained in the second quarter of last year, adding that "large cloud service providers" comprised around half of the company's data center revenue. Data center sales, meanwhile, accounted for 88% of Nvidia's overall revenue that quarter.
Analysts have long wanted more clarity into these numbers. Last quarter, Nvidia began breaking out "Hyperscaler" revenues versus "AI Clouds, Industrial & Enterprise" sales. This breakout essentially helps investors understand how much of Nvidia's sales are being driven by the AI market in general versus a handful of powerful customers, many of which are pursuing the development of their own GPUs.
Last quarter, data center revenue was remarkably balanced. Hyperscalers accounted for $37.9 billion in sales versus $37.4 billion in sales for other customers. That's pretty close to the breakdown the company alluded to this time last year.
Notably, however, hyperscaler revenues grew by just 12% versus 31% sequential growth for the rest of its customer base.
Investors should pay close attention to where these numbers head this quarter. If hyperscaler revenues spike, it could be a sign that Nvidia's chips remain in high demand among industry leaders. But it also increases Nvidia's reliance on a few customers. Last quarter, just three customers accounted for more than 50% of sales. But as mentioned, we cannot be sure if these customers are single entities or businesses that then sell to customers of their own.
Rising sales growth outside of the hyperscalers segment could also spell good or bad news. On one hand, it would lessen Nvidia's customer concentration. On the other hand, it could signal weakening demand among hyperscalers, which are desperate to reduce their own reliance on Nvidia.
What these numbers reveal, and how the market decides to interpret the data, should have an impact on Nvidia's share price after earnings are announced.
Analytik Cantor Fitzgerald tvrdí, že Nvidia může těžit z financování AI infrastruktury a partnerských vazeb, které posilují její pozici v ekosystému. Cenový cíl má na 350 USD, asi 67 % nad současnou úrovní.
Nvidia shares are under pressure ahead of the company's fiscal second-quarter 2027 results on Wednesday, but one analyst argues investors may be viewing the artificial intelligence leader through the wrong lens.
The stock fell about 2.5% Monday and was on track for its seventh consecutive losing session, potentially its longest losing streak since September 2022, according to Dow Jones Market Data.
Despite the recent weakness, Nvidia has gained about 12% this year.
That performance looks modest compared with the 59% advance in the PHLX Semiconductor Index over the same period.
Cantor Fitzgerald analyst CJ Muse believes the disconnect creates an opportunity.
"It is time to close your eyes" and bet big on Nvidia's stock, Muse wrote in a Monday note to clients.
He said once momentum returns, the stock is expected to move rapidly.
"When this stock starts moving, we think it is going to move very, very fast," he said.
Muse's bullish case rests partly on Nvidia's potential earnings growth.
He pointed to estimates of $17 in earnings per share for calendar 2027 and $25 for calendar 2028.
Based on those projections, Nvidia is trading at roughly 14 times the 2027 estimate and 10 times the 2028 figure.
Muse has a $350 price target on Nvidia, about 67% above current levels.
The analyst believes investors are currently "underweight" Nvidia, suggesting the stock is less represented in portfolios than its broader market position might warrant.
The argument is not simply that Nvidia will continue selling more GPUs.
Instead, Muse believes the company is becoming increasingly embedded in the financing and infrastructure that supports the AI ecosystem.
Nvidia's growing use of what Muse describes as "financial engineering" has attracted criticism, particularly because the company has taken equity stakes in AI companies including OpenAI and Anthropic and entered revenue-sharing arrangements with neocloud providers such as CoreWeave and Nebius.
Muse, however, sees those arrangements as increasingly important to Nvidia's competitive position.
"This strategy is becoming increasingly critical and one that we believe will shine as we move further through today's robust AI infrastructure buildout," he said.
The logic is that Nvidia is not simply supplying chips to customers.
By helping finance AI infrastructure, providing computing capacity and participating financially in the companies building that infrastructure, it can create deeper relationships that are harder for competitors to disrupt.
Muse argues that Nvidia's equity investments, revenue-sharing agreements and plans to help raise as much as $500 billion for AI infrastructure are effectively turning its GPUs "into a financeable, increasingly fungible asset class."
That could make it harder for customers to replace Nvidia hardware with competing chips.
Cantor Fitzgerald identified five potential catalysts that could change the market's perception of Nvidia.
One is greater clarity around data-center revenue in 2027.
Other companies have begun providing specific targets for their future infrastructure spending, while Nvidia has yet to offer comparable visibility.
Another potential catalyst is additional information from Anthropic ahead of its expected fourth-quarter 2026 IPO.
Investors have recently focused on concerns surrounding the AI company's July annual recurring revenue.
The firm also sees greater visibility into hyperscaler capital expenditure plans for 2027 and 2028 as potentially supportive for Nvidia.
Sustained growth among neocloud providers is another factor, particularly if Nvidia continues using financing and revenue-sharing arrangements to support data-center expansion.
Finally, Muse believes GPUs could increasingly become standardized as a new asset class through financing agreements, potentially broadening Nvidia's role beyond traditional semiconductor sales.
Custom chips remain a risk, but Nvidia is broadening its moatThe biggest challenge to Nvidia's dominance is increasingly coming from the company's largest customers.
Major cloud companies are developing custom AI accelerators to reduce their dependence on Nvidia, raising concerns that the chipmaker's market share could eventually decline.
Muse believes its neocloud strategy offers some protection against that risk.
Revenue-sharing agreements with neocloud companies could prove "much more resilient" because Nvidia is helping enable data-center deployments beyond the largest hyperscalers.
The company is also expanding its customer base among enterprises and sovereign AI programs while moving toward selling complete AI systems that include racks, networking and other components.
That broader strategy could make Nvidia less vulnerable to losing a particular chip program to a competitor.
Wall Street remains bullish ahead of resultsOther analysts are also maintaining positive views ahead of Nvidia's earnings.
Rosenblatt Securities has retained a Buy rating and expects Nvidia's revenue and earnings to exceed consensus estimates.
Benchmark has likewise reiterated its Buy rating and set a $335 price target.
The firm expects Nvidia to report revenue of about $92 billion and earnings per share of $2.10.
The earnings report will therefore provide an important test of whether Nvidia's fundamental growth can overcome concerns about valuation, custom-chip competition and the sustainability of AI infrastructure spending.
For Muse, however, the bigger opportunity lies in recognizing that Nvidia's competitive advantage may no longer be limited to its semiconductor technology.
Its financing relationships, software ecosystem, infrastructure partnerships and stakes in AI companies could create a network around Nvidia that is increasingly difficult to displace.
That strategy remains controversial. But if AI infrastructure spending continues accelerating, the same financial moves that investors have questioned could ultimately help Nvidia retain its position at the center of the AI boom.
Nvidia má ve středu znovu překonat vlastní prognózu, ale klíčovým tématem je podle analytiků omezená nabídka, ne poptávka. Wedbush uvádí, že firma skončila se závazky z dodávek ve výši 95,2 miliardy USD a celkovou nabídkou 145 miliard USD.
Nvidia Corp (NASDAQ:NVDA, XETRA:NVD) is expected to top its own guidance again on Wednesday even as supply constraints, not demand, increasingly define the story.
The first order of business is the number itself, and most signs point to another beat. Nvidia guided for second-quarter revenue of $91 billion, plus or minus 2%, with gross margins of about 75%, implying earnings per share of roughly $2.03. Consensus sits at $92 billion and $2.09.
Over the last three quarters, Nvidia has handily exceeded its own guidance. Most analysts expect a similar beat this time, with management likely to meet or top the consensus October guide of $103.9 billion.
Wedbush, which reiterated an Outperform rating and $330 price target, argues component and material access, not end demand, now limits shipments. The firm called Nvidia's supply position the best in the industry: the company exited its first fiscal quarter with supply chain commitments of $119 billion, up from $95.2 billion, and total supply of $145 billion.
Vera Rubin entered full production following GTC Taipei, with the revenue ramp starting in the third fiscal quarter, and management has signaled the platform will likely stay supply constrained for its entire life. Memory pricing, a risk flagged into the last print, looks less worrying now too.
Wedbush cited feedback that Nvidia negotiated favorable HBM pricing for 2027, and that the 17% price increases reported for 2027 deliveries should let the company hold absolute, if not percentage, margins.
UBS backs the supply story with its own numbers, pointing to rising TSMC and industry-wide CoWoS packaging capacity and ample HBM supply. The firm raised its GPU unit estimates to about 8.8 million chips in calendar 2026 and 10.8 million in calendar 2027, lifting revenue estimates to roughly $418 billion and $681 billion for those years.
The group models gross margin in the mid-70% range through 2027, free cash flow of $211 billion and $360 billion over the period, and reiterated a Buy rating with a $280 price target based on 14 times its 2028 EPS estimate of about $20.
Demand isn't the worry either. All four of the largest US hyperscalers raised their 2026 capital spending plans again on their June-quarter calls, putting the group's combined spending at roughly $725 billion for the year, up from about $410 billion in 2025, per Wedbush. Neocloud, model builder and sovereign programs are growing even faster than hyperscale spending, and smaller neoclouds are reporting payback periods of just two to three years on AI hardware builds.
Nvidia's push to secure every input, chip supply, land, power, for customers like frontier labs and neoclouds is reshaping how analysts think about the company. Bank of America pointed to Nvidia's recently announced $105 billion in OpenAI-related commitments and said it expects more disclosure around off-balance-sheet commitments on the earnings call. The firm sees the strategy as securing demand durability but warns it also raises risk: a slowdown in AI demand could pressure both growth and the balance sheet.
XTB research director Kathleen Brooks went further, describing Nvidia as functioning almost like "a central bank to the tech industry," a reference to its role organizing a $500 billion third-party compute financing platform with KKR, BlackRock and other institutions.
The valuation gap
Bank of America argues the market is underpricing Nvidia for the risk it's actually taking. Using a sum-of-parts approach that applies peer multiples to the roughly 50% of free cash flow returned to shareholders and a discount to the remainder, the firm estimates Nvidia should trade at a blended 36 times and 22.5 times calendar 2027 and 2028 EV/FCF compared to 18 times and 15 times, a 50% and 34% discount.
Bank of America suggests boosting the share of free cash flow devoted to buybacks, currently below peers like AMD and Marvell at 75-100%, could help close that gap.
Shares of Nvidia are down 2.5% on Monday but have gained over 12% year to date.
Nvidia zveřejní výsledky ve středu po uzavření trhu, ale trh čeká víc než jen překonání odhadů. Investoři sledují hlavně potvrzení, že masivní výdaje na AI infrastrukturu pokračují.
Quarterly financial results from Nvidia Corporation (NASDAQ:NVDA) on Wednesday after market close are among the most anticipated events of the week. Analysts and investors are expecting the company to once again report strong results that beat estimates and to provide guidance ahead of estimates. Here’s why that might not be enough to move the stock back to all-time highs.
Nvidia Earnings StrengthFreedom Capital Markets Chief Market Strategist Jay Woods calls Nvidia the "poster child for all that is AI" and previews the earnings ahead of Wednesday’s key event.
"They have beaten EPS 18 of their last 20 reports and revenues have exceeded expectations 19 of the last 20, so the bar is high," Woods said in a weekly newsletter. "A simple beat may not be enough."
Woods said investors are hoping for another beat-and-raise quarter, but that might not be the most important metric to move the stock. The market expert says investors will be looking for "confirmation that the massive AI infrastructure spending cycle remains alive and well."
The focus on AI infrastructure spending is reflected in Nvidia’s data center revenue, up 92% year-over-year in the first quarter, to $75.2 billion.
With heavy spending on AI infrastructure by the likes of Microsoft, Amazon, Alphabet, and Meta, Woods said investors should pay attention to Nvidia’s data center segment, as it is the "ultimate report card" for AI infrastructure spending. Likewise, if the segment disappoints, it could paint weakness for the entire AI infrastructure segment.
"Any sign that hyperscalers are tapping the brakes could quickly become the biggest story of the quarter."
After focusing on Blackwell demand in recent quarters, Woods says investors and analysts will be looking ahead to the Vera Rubin platform to make sure this next chip is on schedule and that demand remains high.
Woods calls China the "major wildcard" for the company with current guidance not pricing in any data center compute revenue from the region. This comes as China/Hong Kong once made up around 19% of Nvidia’s annual revenue.
With a potential reopening of the region and easing of restrictions, Nvidia could see billions in revenue restored that aren’t part of current guidance.
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Nvidia Stock TechnicalsNvidia stock has fallen after five of its last six earnings reports, according to Woods, with the last +/- 10% earnings move coming in February 2024.
"Earnings haven’t been a strong catalyst over the last several quarters," Woods said.
Woods said Nvidia stock trades near the mid-point of its recent range ($195 to $230) and above its 50-week moving average, leaving a limited edge for traders.
"Expect the stock to challenge its old highs between $230/$235 on any positive reaction."
Woods said it depends on whether there is enough momentum in the earnings report and guidance to send shares higher.
On the flip side, negative sentiment could see the $195 support level in play.
"As we head into the results, we are at a crossroads, and that’s what makes this quarter so important."
Nvidia Stock Price ActionNvidia stock is down 2.6% to $209.17 on Monday versus a 52-week trading range of $164.07 to $236.54. Nvidia stock is up 10.8% year-to-date in 2026.
NVIDIA v pondělí oslabila o 2,14 % kvůli slabosti technologických titulů před výsledky, které zveřejní 26. srpna. Wall Street čeká EPS 2,07 USD a tržby 92,03 miliardy USD.
NVIDIA Corp. (NASDAQ:NVDA) shares fell more than 2% Monday as weakness in technology stocks weighed on the chipmaker ahead of its Aug. 26 earnings report.
The Nasdaq fell 0.78%, the S&P 500 slipped 0.19% and the Technology sector dropped 1.5%.
• NVIDIA shares are experiencing downward pressure. Why are NVDA shares declining?
Nvidia is entering its next phase of AI growth as Blackwell Ultra shipments rise, Vera Rubin begins its initial ramp and the company expands across compute, networking, software, infrastructure and financing.
Cantor Sees Nvidia Expanding Beyond GPUsCantor Fitzgerald analyst C.J. Muse reiterated an Overweight rating and $350 price forecast on Nvidia.
Muse believes investors underestimate Nvidia’s ability to sustain growth as it expands beyond GPUs into networking, rack-scale systems, software, infrastructure and financing. While custom silicon could pressure Nvidia’s unit share at hyperscalers, he expects the company’s broader system strategy to support more resilient revenue share.
Muse outlined stretch-case EPS of $16 to $17 in calendar 2027 and $23 to $25 in 2028. Cantor expects hyperscaler capital spending to approach $1 trillion in 2026 and potentially reach $1.5 trillion in 2027.
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He estimates Nvidia could generate about $400 billion in calendar 2026 data center revenue with roughly 80% of a $500 billion AI accelerator and networking market.
By 2030, Cantor’s scenarios imply data center revenue of about $1.05 trillion at 60% market share, $1.23 trillion at 70% and $1.4 trillion at 80%. Muse considers 60% share a bear case and estimates Nvidia could still produce $25-$30 in EPS by 2030.
JPMorgan Expects Another Beat and RaiseJPMorgan analyst Harlan Sur reiterated an Overweight rating and $280 price forecast.
Sur expects fiscal second-quarter revenue of $94 billion-$95 billion, up about 15% sequentially and ahead of the $92.1 billion Street consensus. He projects GB300 and remaining GB200 rack shipments will rise about 15% quarter over quarter to 17,000-18,000 units.
For the October quarter, Sur expects Nvidia to guide revenue to $107 billion-$108 billion, compared with the $104.5 billion consensus.
He projects rack shipments will increase another 13% to 14% to 19,000-20,000 units, including the first 1,000-2,000 Vera Rubin racks. Sur estimates Vera Rubin could lift blended average selling prices by 5% to 10% and reduce per-token platform costs by about 90% versus Blackwell Ultra.
Sur also estimates every 100,000 H200 GPUs shipped to China could add roughly $3 billion in revenue.
Competition, Margins Remain in FocusSur expects GPUs and ASIC/XPU platforms to move toward roughly equal shares of the AI compute market over the next several years, while Nvidia retains overall leadership.
He expects near-term gross margins in the mid-70% range but sees rising memory costs as a longer-term risk. Nvidia trades at roughly 17 times Street calendar 2027 EPS and 13 times 2028 EPS, according to Sur.
Earnings and Price ActionNvidia will report earnings on Aug. 26.
Wall Street expects EPS of $2.07, up from $1.04 a year earlier, on revenue of $92.03 billion versus $46.74 billion.
NVDA Price ActionNvidia shares were down 2.14% at $210.13 at the time of publication on Monday, according to Benzinga Pro data.
Photo via Shutterstock
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Nvidia v pondělí klesla asi o 2,6 % před středečními výsledky, které mají prověřit udržitelnost investic do AI infrastruktury. Trh čeká zisk na akcii 2,09 USD a tržby 91,96 miliardy USD.
Buy Nvidia (NVDA). The stock is down with the whole semis complex, but the setup is an earnings catalyst: consensus expects $2.09 EPS and $91.96B revenue, and two major analysts reiterated Buy/Overweight with higher targets ($325/$350). If NVDA confirms 2027 data-center revenue momentum (or even just gives clearer outlook), the market’s “AI spending sustainability” fear should fade fast.
Key Risk: NVDA guides to slower 2027/next-quarter data-center growth or signals AI infrastructure financing is tightening, proving the spending cycle is peaking.
SOXX buy
Buy iShares Semiconductor ETF (SOXX). The article shows broad weakness (MU, AMD, AVGO, INTC, STX all down), which creates a better risk/reward entry than picking only one name. If NVDA’s earnings act as a green light for the AI capex cycle, semis typically re-rate together and SOXX captures the rebound without relying on one company’s execution.
Key Risk: Earnings across the group (or guidance from peers) confirms AI capex is slowing materially, keeping the whole sector de-risked.
Nvidia NVDA shares fell around 2.6% to around $209 in early Monday trading as the chipmaker began its earnings week under pressure from a broader decline in technology and semiconductor stocks.
The S&P 500 fell 0.2%, while the Nasdaq Composite lost 0.5%. The Dow Jones Industrial Average was up 32 points, or 0.1%.
Chip stocks were among the biggest decliners. The iShares Semiconductor ETF dropped almost 3%.
Micron Technology fell more than 6%, while Advanced Micro Devices and Broadcom declined 3% and about 2%, respectively.
Other technology stocks also came under pressure. Sandisk dropped 9%, Intel declined 4%, and Seagate Technology fell 6%.
Nvidia will report its fiscal 2027 second-quarter results on Wednesday in what has become a key test for the broader artificial intelligence investment cycle.
The chipmaker is expected to beat consensus estimates of $2.09 in adjusted earnings per share and $91.96 billion in revenue.
Rosenblatt Securities reiterated a Buy rating and $325 price target on Nvidia ahead of the earnings report.
The firm expects the second-quarter results to act as a positive catalyst for the stock, with revenue and earnings expected to exceed consensus estimates.
Rosenblatt also expects Nvidia's third-quarter revenue and earnings guidance to come in above consensus expectations.
The firm pointed to the company's continued momentum and leadership in artificial intelligence, while maintaining its view that Nvidia will continue to deliver strong performance.
Cantor Fitzgerald also reiterated an Overweight rating on Nvidia on Monday and maintained a $350 price target.
The firm said investors remain underweight the stock and expects Nvidia shares to move rapidly once the stock begins to rise. Nvidia remains one of Cantor Fitzgerald's top picks.
The firm identified several potential catalysts that could support the shares.
One is a formal update on Nvidia's data center revenue outlook for 2027.
Cantor noted that other companies have already provided specific targets for that period, while Nvidia has not.
The firm also pointed to potential developments involving Anthropic ahead of its expected fourth-quarter 2026 initial public offering.
Greater visibility into hyperscale and other capital expenditure plans for 2027 and 2028 could also provide support for Nvidia, according to the firm.
Cantor additionally cited continued strong growth among neocloud companies and increasing confidence in graphics processing units becoming a standardized asset class through new financing agreements.
Nvidia's results will arrive after a period of increased scrutiny around the sustainability of AI infrastructure spending, competition and financing arrangements across the industry.
The company remains central to the AI infrastructure trade, making its quarterly results an important indicator for investors assessing whether current levels of spending can continue.
The earnings report will provide a key test of Nvidia's ability to convert continued AI infrastructure investment into revenue growth while addressing investor concerns around financing, competition and the sustainability of spending across the sector.
NVIDIA vykázala v 1. čtvrtletí fiskálního roku 2027 tržby ve výši 82 miliard USD, meziročně o 85 % více, a oznámila výhled na 91 miliard USD plus minus 2 % pro 2. čtvrtletí.
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The AI trade in August 2026 has cooled meaningfully from a year ago. Insider filings, options flow, and analyst targets point in different directions across the biggest names in the theme. Nowhere is that more visible than in NVIDIA (NASDAQ:NVDA | NVDA Price Prediction), the poster child for the buildout. Our proprietary model reads through that noise and lands on a constructive stance.
Our 24/7 Wall St. price target for NVIDIA is $268.36, implying roughly 25% upside from a current price of $214.72. The recommendation is buy at high confidence.
24/7 Wall St. Price Target Summary Metric Value Current Price $214.72 24/7 Wall St. Price Target $268.36 Upside +24.98% Recommendation BUY Confidence Level 90% NVIDIA remains the cleanest way to own the AI infrastructure buildout, but momentum has cooled. Shares are down 4.64% over the past week, up 15.27% year to date, and up 935% over five years. That deceleration creates the setup where smart-money signals get murky, yet our model sees more upside than downside.
Mixed Signals Under the Hood NVIDIA delivered $82 billion in Q1 FY27 revenue, up 85% year over year, with data center revenue of $75 billion and $49 billion in free cash flow. Q2 guidance sits at $91 billion plus or minus 2%. CEO Jensen Huang said “demand has gone parabolic” and that AI infrastructure spending is on track to reach $3 to $4 trillion annually by the end of this decade.
The mixed signal comes from positioning. NVDA’s put/call ratio sits at 0.60 across the full chain, with December 2026 pushing to 1.29. Retail sentiment on Reddit is neutral at 51, and Director Tench Coxe filed a disposal of 500,000 shares on August 5.
Bull Case: $310 and Higher Our bull case takes NVIDIA to $310.25, or roughly 44.5% upside. Vera Rubin production begins in Q3 with claimed 35x higher inference throughput versus Blackwell.
NVIDIA claims $1 trillion in Blackwell and Rubin revenue from 2025 through calendar 2027, and the Vera CPU opens a $200 billion TAM. China H20 shipments would sit above current outlook.
What Could Go Wrong The bear case pins NVIDIA at $232.09, or about 8% upside, reflecting hyperscale capex normalization and gross margin compression from the current 75% level.
Bulls counter that $145 billion in supply commitments plus $20 billion returned to shareholders last quarter argue against demand collapse. Regulatory risk on China compute remains the wildcard.
How NVIDIA Compares to Alphabet, Tesla, and Cognex Alphabet (NASDAQ:GOOGL) is a major buyer of NVIDIA silicon. Google Cloud grew 82% in Q2 FY26, and our 24/7 Wall St. price target for GOOGL is $439.86, or 27.6% upside. GOOGL trades at an implied forward P/E of 17 versus NVDA’s 37, making NVDA expensive but justified given 2x the growth.
Tesla (NASDAQ:TSLA) shows mixed signals. Our model shifted to hold with a target of $377.78, only 4.1% upside. Tesla’s Q2 non-GAAP EPS missed by 38.5%, and analyst sentiment is only 49% bullish. If your AI thesis needs FSD monetization, smart money is skeptical.
Cognex (NASDAQ:CGNX) is a picks-and-shovels play: machine-vision inspection for data-center racks. Data-center revenue is growing about 30%, and our target of $74.90 implies 23.7% upside. That is tighter upside than NVDA at higher execution risk, making our NVDA target reasonable (we profiled seven more of these non-chip AI infrastructure suppliers, from power to cooling to networking, in a free report you can grab here).
Intuitive Surgical (NASDAQ:ISRG) is down 33.1% year to date despite 16% Q2 procedure growth. That signals that even “AI-adjacent” stories bleed hard when confidence wobbles.
NVIDIA Price Prediction 2026-2030 Our 24/7 Wall St. price target of $268.36 reflects a buy at 90% confidence. The tipping factor is unit economics: 2.7x throughput and 60% lower cost per token on GB300 versus six months earlier.
The setup strengthens if Vera Rubin ramps on schedule in Q3. The thesis weakens if hyperscale capex growth decelerates below 30% for two consecutive quarters. The mixed signals are real, and NVIDIA is still the highest quality expression of the AI theme.
Year 24/7 Wall St. Price Target 2026 $229.93 2027 $256.80 2028 $317.58 2029 $346.95 2030 $399.20 These projections assume NVIDIA continues executing on Blackwell, Rubin, and Vera. Meaningful upside or downside could result from China compute policy changes, custom-silicon share losses at hyperscalers, or a step-change in agentic AI adoption.
Contact [email protected] for any questions or corrections.
SpaceXAI nasadí NVIDIA Vera CPUs pro své aplikace agentní umělé inteligence a rozšíří infrastrukturu pro Grok na platformě Vera Rubin. První satelit Starmind má využít optimalizovaný systém Vera Rubin NVL72.
SpaceXAI will deploy NVIDIA Vera CPUs to accelerate the work behind its next generation of agentic AI workloads.SpaceXAI is expanding its AI infrastructure for Grok with the NVIDIA Vera Rubin platform as it scales toward gigawatts of computing capacity.SpaceXAI plans to extend its use of NVIDIA accelerated computing into space, with the first-generation Starmind AI satellite based on an optimized NVIDIA Vera Rubin NVL72 system.
SANTA CLARA, Calif., Aug. 24, 2026 (GLOBE NEWSWIRE) -- NVIDIA today announced that SpaceXAI will deploy NVIDIA Vera CPUs to accelerate its next generation of agentic AI applications, bringing the first CPU built for AI agents to one of the world’s most ambitious AI deployments.
Agentic AI applications increasingly rely on CPUs to orchestrate tools, execute code, process data and run simulations between model calls. SpaceXAI will use Vera to accelerate these application workloads, helping AI agents act faster while keeping GPUs fed and fully utilized.
SpaceXAI plans to expand its AI infrastructure behind Grok on NVIDIA Vera Rubin, while extending an optimized Vera Rubin NVL72 into space with its first-generation Starmind satellite.
“Agentic AI requires a new kind of computing system — one built not only to generate answers, but to take action,” said Ian Buck, vice president of hyperscale and high-performance computing at NVIDIA. “Vera gives AI agents the CPU performance to act in real time — executing code, processing data and coordinating complex tasks. SpaceXAI is taking this architecture from massive AI factories to the next frontier of computing in orbit.”
“Vera gives us the CPU performance and memory bandwidth to run enormous amounts of orchestration, code and data processing while keeping GPUs doing what they do best,” said Mike Nicolls, president of SpaceXAI. “That means higher-performance AI agents and more useful work from every watt of compute.”
NVIDIA Vera — The CPU for Agents
NVIDIA Vera is the first CPU built for AI agents, designed to accelerate the CPU-intensive work that surrounds model inference — from tool use and code execution to data processing, orchestration and simulation.
Vera features 88 NVIDIA-designed Olympus cores, NVIDIA Spatial Multithreading technology and high-bandwidth LPDDR5X memory, delivering up to 1.2TB/s of bandwidth. Vera enables up to 1.8x faster task completion compared with x86 CPUs across workloads including agentic AI, reinforcement learning and data processing.
SpaceXAI Scales AI Infrastructure With NVIDIA Vera Rubin
At massive scale, AI infrastructure must support demanding training, reasoning and inference workloads while maximizing performance, power efficiency and utilization. NVIDIA Vera Rubin is codesigned across compute, networking and software to optimize the AI factory as a whole.
The platform brings together NVIDIA accelerated computing, NVIDIA NVLink™ interconnect technology, NVIDIA Spectrum-X™ Ethernet networking, NVIDIA BlueField® data processing and NVIDIA software in an integrated architecture designed to deliver high performance and energy efficiency at scale while driving down cost per token.
As SpaceXAI expands toward gigawatts of computing capacity, Vera Rubin provides a common architecture to efficiently scale its next generation of AI factories — a foundation SpaceXAI plans to take beyond terrestrial data centers and into orbital computing.
NVIDIA Accelerated Computing, From Earth to Orbit
SpaceXAI’s work with NVIDIA is moving beyond AI factories on Earth.
SpaceXAI is developing AI computing infrastructure for orbit, where power, thermal management, bandwidth, reliability and physical integration impose dramatically different constraints from conventional data centers.
SpaceXAI’s planned first-generation Starmind AI satellite will be based on the optimized NVIDIA Vera Rubin NVL72 rack-scale system, extending the same accelerated computing architecture powering next-generation AI factories on Earth into space.
NVIDIA and SpaceXAI are working to adapt that foundation to the requirements of orbital computing while preserving a common NVIDIA architecture and software ecosystem.
This delivers one computing foundation across a wide range of environments: Vera CPUs accelerating increasingly sophisticated AI agents, Vera Rubin powering the AI infrastructure behind Grok and gigawatt-scale AI factories on Earth, and NVIDIA accelerated computing extending into orbital AI infrastructure.
Learn more about the NVIDIA Vera Rubin platform and NVIDIA Vera CPU.
About NVIDIA
NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing.
For further information, contact:
Kacie Thomas
Corporate Communications
NVIDIA Corporation [email protected]
Certain statements in this press release including, but not limited to, statements as to: SpaceXAI deploying Vera for these new application workloads while building its AI infrastructure on Vera Rubin — from AI factories on Earth to computing in orbit; expectations with respect to growth, performance, availability, and benefits of NVIDIA’s products, services and technologies, and related trends and drivers; expectations with respect to NVIDIA’s third party arrangements, including with its collaborators and partners; expectations with respect to third parties’ business plans and third parties’ adoption of NVIDIA technology; expectations with respect to technology developments, and related trends and drivers; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing products and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; NVIDIA’s ability to realize the potential benefits of business investments or acquisitions; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of reports filed with the SEC are posted on NVIDIA’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.
Many of the products and features described herein remain in various stages and will be offered on a when-and-if-available basis. The statements above are not intended to be, and should not be interpreted as a commitment, promise, or legal obligation, and the development, release, and timing of any features or functionalities described for our products is subject to change and remains at the sole discretion of NVIDIA. NVIDIA will have no liability for failure to deliver or delay in the delivery of any of the products, features or functions set forth herein.
Nvidia ve středu po uzavření trhu zveřejní výsledky za fiskální 2. čtvrtletí. Analytici čekají výnosy +97 % na 92,1 miliardy USD, ale růst má pak zpomalit.
If you think Nvidia (NVDA -0.98%) has been a volatile stock in recent weeks, you might want to buckle your seat belts. The artificial intelligence (AI) bellwether will report its fiscal second-quarter results after the market close on Wednesday afternoon.
Nvidia shares will be on the move. It's not as simple as the shares moving higher if it's a good report or lower if it's not. Like many market relationships with battleground stocks, it's complicated. Let's go over the three things that Nvidia needs to get right this week.
Image source: Getty Images.
1. Accelerating revenue growth is just the first step Expectations are high for Nvidia stock heading into this week's big financial reveal. Analysts see revenue soaring 97% to $92.1 billion for its second quarter of what is now fiscal 2027, its biggest jump in two years. Momentum has been kind on the top line. This would be Nvidia's fourth consecutive quarter of accelerating year-over-year revenue growth.
Q2 FY 2026: 56% Q3 FY 2026: 63% Q4 FY 2026: 73% Q1 FY 2027: 85% Q2 FY 2027: 97% (est.) You would think that Wall Street pros are targeting triple-digit revenue gains for the current quarter, but that's not the case. Analysts see top-line growth decelerating to 82% for the current quarter (and 44% for all of fiscal 2028). Most companies would love to be growing at that clip, but after a year of stepping on the gas, the market's bracing for a slowdown. This is the first opportunity for Nvidia to deliver a positive surprise, coming through with a rosier outlook for its near-term performance.
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2. Snapping the earnings season curse Let's turn to the bottom line. Nvidia has been good at managing the market's earnings expectations. It's four for four in beating Wall Street's profit targets over the past year. The beats haven't been much, clocking in between 3% and 6% in the last four quarters. The victories may be small, but keep in mind that analysts have perpetually raised their income projections for Nvidia. In just the past month, five of them have raised their expectations for the quarter that will be announced this week.
I guess you're ready for the head-scratching chart I was waiting to spring on you. Here is Nvidia's stock performance over the past year. I've also added the dates when each of the four previous earnings reports came out. There are two unusual things I want to highlight for you.
The most jarring revelation is that the Nvidia shares have fallen in the days following each of its last four earnings reports. The downticks have continued for about a week or longer. The market has reacted this way despite the bottom-line beats, accelerating top-line growth, and increased guidance. This should give my fellow Nvidia investors pause heading into Wednesday afternoon's report, but I'm not worried.
The second revelation is that the stock has clawed its way back every time, trading higher by its next quarterly update. Unfortunately, that won't be the case this time around. Barring a rally through the first three trading days of this week, Nvidia will be lower this time than it was for its previous financial update. This might not be a bad thing. It could be the tempering of expectations that finally leads Nvidia to move initially higher on earnings news for the first time in more than a year.
3. Looking beyond financial results Nvidia investors have been treated to a 23% gain over the past year, barely ahead of the market. Smaller Nvidia competitors, memory plays, and other AI-related businesses have largely fared better. There is no denying that demand is booming, and that Nvidia is the leader. There are just supply chain constraints and other risks to the business that are outside of Nvidia's control.
Will the shortage of storage manufacturing or the growing resentment of data center build-outs slow Nvidia's ability to meet the spike in demand? Will investors turn on the surging capital expenditures that companies are budgeting for AI? Are circular financing deals to bankroll the growth a house of cards? The headwinds are there for the bearish picking, and every word that Nvidia CEO Jensen Huang doles out on Wednesday will be weighed.
I take comfort in knowing that Nvidia enters this week trading at a reasonable 24 times this fiscal year's earnings and 16 times next year's target. It's a good price for a great company that is growing substantially faster. The risks of the business slowing and margins contracting are real, but so is a future where Nvidia continues to climb the wall of worry to deliver a well-received financial performance for a change.
NVIDIA uvedla, že tržby datových center v 1. čtvrtletí fiskálního roku 2027 vzrostly meziročně o 92 % na 75,246 miliardy USD a celkové tržby o 85,23 % na 81,61 miliardy USD. Vedení navíc očekává ve 2. čtvrtletí tržby 91,0 miliardy USD.
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I keep hitting the buy button on NVIDIA (NASDAQ:NVDA | NVDA Price Prediction), and the loudest bear argument I hear against it is exactly what pulled me back in this month. The claim goes like this: cheaper models and smarter agents will shrink the compute bill. My read of the data lands somewhere else entirely. Agents multiply compute demand across every workload they touch.
A one-shot chatbot answer burns tokens once. An agent that plans, calls APIs, verifies code, and runs self-correction loops burns 10x to 100x more tokens per task. Jensen Huang put it plainly on the last call: “Demand has gone parabolic. The reason is simple. Agentic AI has arrived.” That is my thesis in one sentence, and NVIDIA’s Q1 FY27 numbers back it up.
Numbers That Keep Me Adding Data Center revenue reached $75.246 billion, up 92% year over year, and Networking alone climbed 199% as InfiniBand and Spectrum-X shipped with every rack. Total revenue hit $81.61 billion, up 85.23%, and management guided Q2 to $91.0 billion at a 75.0% non-GAAP gross margin. That was the fourth consecutive quarter of beating expectations.
Free cash flow of $48.554 billion in a single quarter is what a retirement-focused investor should care about. The board raised the dividend from $0.01 to $0.25 per share and authorized an additional $80.0 billion in buybacks. The balance sheet carries debt-to-equity of 0.073 and interest coverage of 503x, with return on equity of 101.5%. This is a compounder in the classic sense.
Why Not AMD or Broadcom Most readers reach first for Advanced Micro Devices (NASDAQ:AMD) or Broadcom (NASDAQ:AVGO). I pass on both. NVIDIA’s Data Center Compute line by itself was $60.400 billion in a single quarter, dwarfing AMD’s data center run rate. Broadcom’s custom ASIC pitch is real, and I respect it, but Jensen described NVIDIA as “the only platform that runs in every cloud, powers every frontier and open source model, and scales everywhere AI is produced”. Software rentability across every hyperscaler and every sovereign is a moat custom silicon does not match. Forward P/E of 25 with a PEG of 0.591 looks reasonable for a business growing revenue 85% year over year.
Risk I Refuse to Wave Away The number that could actually bite is $119.0 billion in supply-related commitments. If demand softens, that becomes inventory risk. China is the second overhang: NVIDIA shipped no H20 compute products to China in Q1 and excluded China Data Center compute from the outlook. I hold anyway because the visibility is there. Management pointed to $1 trillion in Blackwell and Rubin revenue from 2025 through calendar 2027, and hyperscale capex is forecast to exceed $1 trillion in 2027. Vera Rubin production begins in Q3, and Huang expects NVIDIA to be “supply constrained throughout the entire life of Vera Rubin”.
Why the Buy Button Stays Active The stock is up 22.87% over the last year and 935.04% over five years. It sits below its 52-week high of $236.26, and it just gave back 4.64% last week. Every agent spun up by every enterprise on the planet routes back to a GPU, and Jensen framed the arithmetic of the decade in one sentence: “In the AI era, compute capacity is revenue and profits.” That is the sentence that keeps me buying.
Contact [email protected] for any questions or corrections.
While Nvidia (NASDAQ: NVDA) stock has been suffering from a stubborn losing streak through the previous week and has only seen a moderate 0.093% upward move in the Monday pre-market, it is set for a major catalyst on August 26.
Nvidia stock price one-week chart. Source: Google Specifically, the world’s largest semiconductor company is set to report its quarterly earnings on Wednesday in an event that is all but guaranteed to drive volatility.
Analyst and investor expectations for the day are, arguably, sky-high, with experts calling for $92 billion in sales – nearly 13% higher than in the previous quarter – and earnings per share (EPS) of $2.01.
Nvidia stock recent and forthcoming quarterly EPS. Source: Nasdaq Notably, while Nvidia outperformed forecasts in the previous fourteen reports, NVDA stock fell sharply in the subsequent sessions.
Nvidia stock dropped after each 2026 quarterly earnings report Indeed, the blue-chip chipmaker’s equity suffered a 9.39% two-day drop after the February filing before regaining bullish momentum, and the May disclosure led to a 5.52% drop across nine days.
The short-term uncertainty is exacerbated by the fact that Nvidia equity suffered downward corrections following both 2026 reports, despite rallying ahead of the event in February and dropping three months later.
Furthermore, though the NVDA stock price performance since the first filing of the year – overall a 9.80% rally by press time – indicates the semiconductor giant remains an overall ‘Buy,’ the 3.92% fall since May highlights that strong returns are not guaranteed, unlike in the previous years of the artificial intelligence (AI) ‘boom’.
Wall Street analysts remain confident Nvidia stock is a top long-term ‘Buy’ Elsewhere, even if performance has been somewhat underwhelming since Nvidia reached a $5 trillion valuation in late 2025 and the previous two quarterly earnings offer little certainty, Wall Street appears adamant that investing in the company remains a winning idea.
On average, institutional experts estimate that an investment made in NVDA shares in August 2026 will rise 40.56% in the next 12 months as the equity soars to $301.82.
Additionally, analyst confidence is reinforced by the fact that all twenty-six ratings represented on the stock analysis platform TipRanks position Nvidia as a ‘Buy’ at press time on August 24.
Wall Street sets Nvidia stock price target for the next 12 months. Source: TipRanks Why Nvidia stock is not a great ‘Buy’ ahead of Wednesday earnings Simultaneously, there are multiple signs that the semiconductor giant is not a safe buy ahead of Wednesday’s earnings. To begin with, performance from earlier in 2026 indicates that waiting for the post-filing dip is likely to lead to better overall results.
Meanwhile, the very high forecasts for both sales and EPS increase the risk that the chipmaker will break its beating streak – an outcome that could prove catastrophic for both Nvidia stock and the wider market.
Finally, there have been multiple signs recently that the AI ‘boom’ – a cycle that has been pivotal for the semiconductor giant’s rise from a $360 billion to $5.2 trillion valuation – is weakening.
Not only has the technology failed to produce unambiguous financial benefits, but Nvidia has increasingly been making attempts to address the circular financial concerns while engaging in what appears to be circular financing.
The most recent examples of the trend came in the form of a $500 billion infrastructure funding memorandum of understanding (MoU) – which is, judging by the company’s 2025 MoU with OpenAI, more likely to lead nowhere than not – and a possible investment in Perplexity at a $30 billion valuation reported first on August 23.
Featured image via Shutterstock
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Nvidia jedná o investici do Perplexity v rámci kola, které by ocenilo AI startup na více než 30 miliard USD. Oproti předchozímu financování by to znamenalo růst valuace o více než 50 %.
Nvidia (NVDA.O) is in talks to invest in Perplexity as part of an equity funding round that would value the AI startup at more than $30 billion, The Information reported on Sunday, citing people with knowledge of the discussion.
The funding round would increase Perplexity's valuation by more than 50% from its previous financing a year ago, according to the report.
Perplexity's annualized revenue has risen to more than $750 million from less than $250 million at the start of the year, the report said. Part of the revenue growth has been driven by Perplexity Computer, a cloud-based AI agent used by professionals to automate computer-based tasks, the report added, citing people familiar with the matter.
Perplexity declined to comment on the Information report, while Nvidia did not immediately respond to a request for comment.
The Information reported in September last year that Perplexity had finalized a $20 billion valuation.
Earlier this year, Perplexity signed a $750 million agreement with Microsoft (MSFT.O) to use its Azure cloud service, according to a Bloomberg News report.
Perplexity is planning to go public in 2028 regardless of how the market receives the listings of Anthropic and OpenAI, CEO Aravind Srinivas told CNBC in an interview in June.
The startup's high-profile backers, along with Nvidia, include Amazon founder Jeff Bezos and Japan's SoftBank Group (9984.T).
Nvidia, stále v centru AI boomu, má ve středu zveřejnit výsledky. Analytici čekají, že její zisky letos budou tvořit větší podíl celkových zisků indexu S&P 500.
Earnings WatchNvidia is due to report earnings on Wednesday, and ‘a very broad universe of companies’ is tied to the themes that the chip giant represents
Nvidia was once nearly synonymous with the artificial-intelligence build-out. Now, there are a handful of other AI companies capturing investor attention as they rake in hefty profits.
But earnings results from the chip maker NVDA, which remains at the heart of the AI boom and has a market value of around $5 trillion, are still a closely watched macro event every three months. Even amid concerns about about circular dealmaking within the AI industry and the sustainability of high data-center spending, analysts expect the company’s profits to make up an ever-greater share of the S&P 500 index’s SPX overall earnings this year.
About the Author
Bill Peters is a Los Angeles–based MarketWatch reporter.
Britney Nguyen is a tech reporter covering Nvidia, chips and AI. You can find her on X at @britneycath.
Family Wealth Partners LLC trimmed its holdings in NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 62.6% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,859 shares of the computer hardware maker’s stock after selling 3,110 shares during the quarter. Family Wealth Partners LLC’s holdings in NVIDIA were worth $372,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Lifetime Wealth Management P.C. bought a new position in shares of NVIDIA during the 4th quarter valued at $26,000. Longview Financial Advisors Inc. bought a new position in NVIDIA in the first quarter valued at about $27,000. Longfellow Investment Management Co. LLC boosted its position in NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after purchasing an additional 67 shares during the last quarter. Phillip James Consulting Co. purchased a new position in NVIDIA in the first quarter worth about $40,000. Finally, Spurstone Advisory Services LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.
Insider Activity In other news, Director Mark A. Stevens sold 885,000 shares of NVIDIA stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $210.17, for a total value of $186,000,450.00. Following the completion of the transaction, the director owned 5,207,271 shares in the company, valued at approximately $1,094,412,146.07. The trade was a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 625 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $214.00, for a total transaction of $133,750.00. Following the transaction, the director owned 14,163 shares in the company, valued at $3,030,882. This trade represents a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,901,125 shares of company stock valued at $410,583,015 in the last ninety days. Insiders own 3.94% of the company’s stock.
Key Headlines Impacting NVIDIA Here are the key news stories impacting NVIDIA this week: Positive Sentiment: NVIDIA is reportedly in advanced talks to invest several hundred million dollars in Cloverleaf Infrastructure, a developer of U.S. data-center power and infrastructure. The move could help address the electricity bottleneck limiting AI capacity while strengthening NVIDIA’s role in projects that use its systems. Nvidia in Talks to Invest in Data-Center Power Developer Cloverleaf Infrastructure Positive Sentiment: Analyst support remains strong before earnings. BMO named NVIDIA its top semiconductor pick with a $340 price target, while Jefferies reportedly expects revenue to exceed consensus by roughly $3 billion. Consensus forecasts call for approximately $91 billion of quarterly revenue, supported by Blackwell and broader AI infrastructure demand. Nvidia stock dubbed top pick ahead of Q2 earnings Positive Sentiment: Reports that SpaceX is standardizing its AI infrastructure on NVIDIA chips reinforce the company’s competitive position and could support demand for its next-generation Vera Rubin platform. NVIDIA is also exploring a potential partnership or acquisition involving South Korean AI-chip designer Rebellions, indicating continued investment in its AI ecosystem. NVIDIA Could Snap up Korean AI Chip Startup Rebellions Neutral Sentiment: NVIDIA’s proposed investment in Cloverleaf follows other efforts to finance AI infrastructure and convert future GPU capacity into a financeable asset. The strategy could accelerate deployments, but it also exposes NVIDIA to capital-allocation and customer-financing risks. Nvidia Makes Another Bet on the AI Power Bottleneck Negative Sentiment: Investors are weighing possible competitive and product risks. NVIDIA is reportedly testing Rubin Ultra configurations with less high-bandwidth memory than originally planned, while Microsoft is preparing its own Maia 300 AI chip. These developments could raise questions about performance, supply availability and long-term customer diversification. NVIDIA and AMD: Rubin Ultra memory reports Negative Sentiment: NVIDIA denied a report that it plans small-batch shipments of a China-specific AI chip by year-end, removing a potential near-term catalyst. Analysts also say any renewed China H200 sales may have only a limited effect on revenue. Nvidia to ship AI chip for China by year-end Negative Sentiment: Higher Treasury yields and warnings from investors such as Michael Burry that AI data-center financing may be excessive are adding valuation pressure ahead of a high-expectation earnings event. Analyst Upgrades and Downgrades Several analysts recently issued reports on the stock. Craig Hallum boosted their target price on shares of NVIDIA from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Seaport Research Partners increased their price target on shares of NVIDIA from $140.00 to $180.00 and gave the stock a “sell” rating in a research report on Thursday, May 21st. Mizuho set a $300.00 price target on shares of NVIDIA in a research note on Thursday, May 21st. Itau BBA Securities cut their price objective on shares of NVIDIA from $256.00 to $218.00 in a research report on Wednesday, June 24th. Finally, Argus upped their price objective on NVIDIA from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, forty-nine have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $308.01.
Read Our Latest Report on NVIDIA
NVIDIA Stock Performance Shares of NASDAQ NVDA opened at $214.75 on Friday. NVIDIA Corporation has a 52-week low of $164.07 and a 52-week high of $236.54. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.85 and a current ratio of 3.44. The firm’s fifty day moving average is $207.47 and its two-hundred day moving average is $199.52. The company has a market cap of $5.20 trillion, a P/E ratio of 32.89, a P/E/G ratio of 0.43 and a beta of 2.23.
NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.11. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The firm had revenue of $81.61 billion during the quarter, compared to the consensus estimate of $78.42 billion. During the same period in the prior year, the company earned $0.81 EPS. The company’s quarterly revenue was up 85.2% compared to the same quarter last year. As a group, analysts anticipate that NVIDIA Corporation will post 8.8 EPS for the current fiscal year.
NVIDIA announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 20th that permits the company to buyback $80.00 billion in shares. This buyback authorization permits the computer hardware maker to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
NVIDIA Company Profile (Free Report)
NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.
The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.
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Bloomberg uvedl, že některým velkým zákazníkům Nvidie bylo oznámeno zdražení serverů s AI čipy o více než 15 % kvůli rostoucím cenám paměťových čipů. Nové ceny mají platit pro systémy dodané začátkem příštího roku.
Some of Nvidia's (NVDA.O) largest customers have been told prices of servers containing its AI chips will rise by more than 15% in many cases with memory chip costs soaring, Bloomberg News reported on Saturday.
The price hikes will go into effect on systems shipped early next year and will impact systems including those with the flagship Vera Rubin and Grace Blackwell chips, the report added, citing people familiar with the process. The increases will depend on Nvidia's chip generation and memory configurations, they said.
Reuters couldn't immediately verify the report. Nvidia did not immediately respond to a request for comments outside regular business hours.
Companies that build servers under contract for large data center operators such as Microsoft (MSFT.O), Alphabet Inc.’s Google (GOOGL.O) and Oracle (ORCL.N) have recently informed their customers of the upcoming increases, the report added.
Nvidia, whose chips underpin much of the AI infrastructure buildout, is set to report second-quarter results on August 26.
The company has become a proxy for the broader AI ecosystem spanning chip makers and companies financing the rapid expansion of data center capacity.
