Huo Xing Cai Jing reports that on August 27, Serenity analyzed NVIDIA’s latest earnings report, noting that the company’s quarterly revenue reached $96.22 billion, exceeding market expectations of approximately $92.17 billion; non-GAAP earnings per share came in at $2.22, surpassing the expected range of $2.09 to $2.10; data center revenue totaled $89 billion, above the anticipated $86.3 billion, with a non-GAAP gross margin of 75%, in line with forecasts. Revenue from hyperscale customers rose from $43.05 billion in the prior quarter to $48.71 billion. Serenity believes that the growth of custom ASICs has not slowed the acceleration of NVIDIA’s core business. NVIDIA’s guidance for next quarter’s revenue is $108 billion, higher than the market expectation of approximately $104.2 billion, and this forecast excludes any revenue from data center computing business in China; the non-GAAP gross margin guidance is 74%, slightly below the market expectation of 75%, representing the relatively weaker aspect of this earnings report. Serenity points out that NVIDIA’s revenue has recently increased from $68.1 billion to $81.6 billion, then to $96.2 billion, and is projected to reach $108 billion next quarter, indicating that AI demand has not shown any clear signs of slowing. The company’s purchase commitments have also surged from $119 billion in the prior quarter to $279 billion, primarily tied to storage chip procurement over the next several years. AI continues to accelerate rapidly, and NVIDIA clearly maintains a leading position, with no significant signs of demand deceleration. Given NVIDIA’s market capitalization has surpassed $5 trillion, the greater investment opportunity may lie in the impact of its architecture and capacity decisions on the supply chain—including CPO, storage chips, and 800V power systems—rather than simply seeking pricing misalignments in NVIDIA stock itself. NVIDIA expects approximately 70% revenue growth for fiscal year 2028, a projection still based on supply constraints. Serenity believes this guidance may be more significant than the quarter’s earnings beat, as the market had previously anticipated only a 43.9% growth rate; NVIDIA’s updated outlook represents a substantial upward revision. Morgan Stanley’s June forecast for related capital expenditures in 2027 was approximately $1.2 trillion; thus, NVIDIA’s $1.3 trillion figure implies further upward revisions to market expectations. Serenity believes that more resilient segments of the supply chain are likely to benefit from sustained growth in AI infrastructure investment.
NVIDIA Q2 Revenue Exceeds $96 Billion as AI Demand Shows No Signs of Slowing
MarsBitShare
Summary
NVIDIA’s Q2 revenue reached $96.22 billion, surpassing forecasts of $9.217 billion. Adjusted EPS came in at $2.22, above the projected range of $2.09 to $2.10. Data center revenue hit $89 billion, exceeding estimates of $8.63 billion. On-chain data indicates no slowdown in AI demand. The company raised its Q3 guidance to $108 billion, above expectations of $10.42 billion. Altcoins to watch may benefit from ongoing AI-driven infrastructure spending.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.