Nvidia will report fiscal second-quarter results on Aug. 26 with Wall Street expecting roughly $92 billion in revenue, making the release one of the most important tests yet for the broader a
Nvidia will report fiscal second-quarter results on Aug. 26 with Wall Street expecting roughly $92 billion in revenue, making the release one of the most important tests yet for the broader artificial intelligence trade.
The company itself guided for about $91 billion, plus or minus 2%, after posting record first-quarter revenue of $81.6 billion. Analysts also expect net income above $51.5 billion, nearly double year-ago levels.
Expectations are becoming harder to beatNvidia has exceeded earnings estimates for 14 consecutive quarters, but that record has raised the bar.
NVDA entered the week after six straight declines, its longest losing streak since 2022. The stock closed Friday at $214.75, down about 4.7% from its Aug. 13 level. The latest earnings preview shows that investors are increasingly focused on guidance and infrastructure spending rather than simply another earnings beat.
Options markets are pricing roughly a 5.3% move after the report, above Nvidia's average post-earnings swing of about 4.8% over the past year.
AI spending is becoming the bigger questionDemand for Nvidia GPUs remains strong, but the cost of supporting the AI boom is rising.
Hyperscalers are spending heavily on data centers, power, networking and memory. Higher borrowing costs have also increased scrutiny of how those projects are financed. Reuters recently noted that Nvidia and six major financial institutions are targeting more than $500 billion in AI infrastructure financing.
Memory prices add another pressure point. Nvidia customers have reportedly been warned of AI-server price increases above 15%, while the latest server costs highlight tight DRAM and HBM supply.
The broader AI chip sector remains tied closely to Nvidia's outlook, with AMD, Broadcom, Micron and TSMC all benefiting from the same infrastructure cycle.
Michael Burry has added another layer to the debate. He expects Nvidia’s results to be “lights out” while still betting against the stock, arguing that strong earnings do not necessarily justify the financial structure supporting the AI boom. His NVDA view reflects a growing market concern: demand can remain strong even as valuations and financing risks become harder to ignore.
For investors, the key numbers will be revenue guidance, Data Center growth and margins. Another record quarter is widely expected. The harder question is whether Nvidia can keep raising expectations faster than Wall Street raises them.
