Nvidia faces this Wednesday August 26 one of the most anticipated earnings presentations of the year. The company will publish its accounts corresponding to the second quarter of its fiscal year 2027 after the close of Wall Street and will subsequently hold a conference with analysts at 11:00 PM in mainland Spain.
Expectations reflect how much the business linked to artificial intelligence has grown. The consensus gathered by Reuters expects approximately $92.180 billion in quarterly revenues, almost double that of a year earlier. Analysts also estimate that revenue could exceed $104 billion in the following quarter.
The publication transcends Nvidia itself. Markets are using its results as one of the main barometers to determine whether the multibillion-dollar investment in data centers and artificial intelligence infrastructure can continue to grow at the pace of recent years.
What time does Nvidia publish its results today
Nvidia will present its accounts this Wednesday after the close of the New York Stock Exchange. The U.S. market ends its regular session at 10:00 PM in mainland Spain, so it will be from then on that investors will be attentive to the publication.
The company has officially confirmed the time of its earnings conference: it will start at 2:00 PM Pacific Time, 11:00 PM in mainland Spain. In it, management will address the results and business outlook for the coming months.
However, there is no official time from Nvidia that ensures the statement will appear exactly at 10:20 PM. The safe reference for Spanish investors is, therefore, results after the close of Wall Street and conference at 11:00 PM.
Nvidia may approach $92.200 billion in revenue
The first figure the market will observe will be the revenue. Analysts expect around $92.180 billion, which would practically double the revenue recorded by Nvidia in the same period of the previous fiscal year.
The forecasts reflect an expansion that continues to be exceptional even after several years of growth driven by AI. The consensus of other providers is at similar levels, although there are small differences depending on the number of analysts included and the timing of when the estimates were updated.
The bar is especially high because the market is already discounting extraordinary growth. Therefore, it will not necessarily be enough for Nvidia to increase its sales: investors will compare the actual figures with expectations that already anticipate a record quarter.
Data centers will be the key figure
A good part of the attention will be focused on Data Center, the business that captures the extraordinary growth of the infrastructure used to train and run artificial intelligence models.
The consensus from Visible Alpha places the quarterly revenues of this division around 85.7 billion dollars, although the estimates present a considerable range.
This data will allow us to check whether the large tech companies continue to absorb the growing computing capacity that Nvidia is bringing to the market. The demand for GPUs for artificial intelligence and the transition to accelerated computing systems remain the main growth drivers for the company.
The 75% margin, another test for Nvidia
The third reference will be profitability. The market places expectations for gross margin around 75%, an extraordinarily high level for a semiconductor company and one of the reasons why Nvidia has managed to transform sales growth into huge profits.
Maintaining that percentage becomes especially important as Nvidia introduces new generations of products and increases the complexity of its systems. The market will watch whether the costs associated with the development and deployment of those platforms begin to exert pressure on margins.
An apparently small deviation can be significant. With more than 90 billion dollars in projected quarterly revenue, a few margin points represent billions of dollars and provide clues about Nvidia's ability to maintain its enormous profitability.
The forecast for the next quarter may matter more than the results
The market will not only look backward. The forecast that Nvidia provides for the third fiscal quarter may become the figure that determines the reaction of the shares after the presentation.
The consensus currently places the expected revenue around 104.2 billion dollars. Reaching that level would imply surpassing the 100 billion dollar revenue barrier in a single quarter for the first time.
The comparison between the guidance that Nvidia provides and those 104.200 billion will allow measuring the company's expectations about the demand for AI infrastructure in the coming months. A clearly higher forecast would reinforce the thesis that the cycle continues to accelerate; a lower figure could fuel doubts about its sustainability.
From Blackwell to Rubin: Nvidia's next leap
Another key will be the technological transition. Nvidia is immersed in the deployment of its most advanced architectures while preparing the commercial growth of Rubin, its new generation of systems for artificial intelligence.
Estimates suggest that Rubin will begin to contribute revenue during this fiscal year, although there is considerable uncertainty about the speed at which the transition from Blackwell will occur.
The explanations from Jensen Huang and the rest of the management about the Rubin timeline will be relevant because they will allow knowing how much additional growth Nvidia can obtain from the new platform and how the demand from major data center operators is responding.
Nvidia's accounts test global spending on AI
The debate surrounding the results has changed. The question is no longer solely how much Nvidia can sell, but who is financing the gigantic infrastructure necessary to sustain the expansion of artificial intelligence and how long investment can continue to increase.
The company has articulated around 500.000 billion dollars of funding for AI infrastructure and has taken on large financial commitments linked to the development of new data centers. This strategy has opened a debate among investors about the extent to which the manufacturer is helping to finance the ecosystem that subsequently buys its own products.
The issue becomes important because large tech companies are allocating historic amounts to build computing capacity. If that investment continues, Nvidia remains in a privileged position to benefit; if spending begins to slow down, its results will be one of the first places where the market will look for signals.
Europe awaits the figures before taking positions
The expectation is already being reflected in the markets. The STOXX 600 is trading practically flat this Wednesday, while European technology companies are retreating before Nvidia's earnings are known.
Investors are trying to determine whether the expansion of AI continues to justify the valuations reached by the companies most exposed to the sector. Nvidia has become a particularly important reference because its sales allow for a direct observation of how much money is being transformed into servers, GPUs, and real computing capacity.
The reaction can be considerable even if the figures are close to forecasts. The options market anticipates an approximate movement of 5.4% in the shares after the results, equivalent to a potential variation of around 280 billion dollars in its market capitalization.
The four figures that will decide the market's reaction
The reading of the accounts can be summarized in four references. The market starts from approximately 92.18 billion dollars in revenue, expects Data Center to be around 85.7 billion, watches for the gross margin to remain close to 75%, and will use as a reference about 104.2 billion in projected revenue for the next quarter.
Exceeding those expectations simultaneously would reinforce the idea that global investment in artificial intelligence still has room to grow. A deterioration in margins, a slowdown in the data center business, or a weaker forecast could have the opposite effect.
That is why the results that Nvidia publishes after the close of Wall Street will be more than just the quarterly accounts of the largest chip supplier for AI. They have become one of the clearest tests of the real state of the investment fever for artificial intelligence.