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watch nowVIDEO03:49BMO’s Kristin Milchanowski on Nvidia earnings and the AI tradeSquawk on the Street
Nvidia will report fiscal second-quarter results after the bell.
Here are the key numbers, according to analyst estimates as compiled by LSEG.
- Earnings per share: $2.10 estimated
- Revenue: $92.17 billion estimated
Nvidia sits at the center of the artificial intelligence world and has grown fiercely on the back of the AI boom.
The company’s chips have been used to build and serve the most advanced AI models, and increasingly Nvidia is providing financial support through backstops and other arrangements that allow new AI data centers to get funded and built.
Almost four years since the launch of OpenAI’s ChatGPT, Nvidia is still seeing massive growth, with revenue in the latest quarter expected to almost double from $46.7 billion a year earlier.
But following a historic three-year rally, investors have somewhat cooled on the stock this year, sending it up just 14% as of Tuesday’s close, slightly outperforming the Nasdaq. While the business continues to hum along, competition is on the horizon from Advanced Micro Devices, Google and others. And the company faces soaring memory costs as a worldwide shortage shows no signs of abating.
Nvidia is in the middle of a massive product cycle. Its new Vera Rubin AI systems have started to ship to customers such as Microsoft and OpenAI, and investors want to hear how sales are ramping up and whether there have been any issues with supply.
Earlier this year, Huang told attendees at the company’s GTC conference that he expects $1 trillion in sales through 2027 from current-generation Blackwell chips as well as Vera Rubin.
The company’s conference call with investors begins at 5 p.m. ET. and tune in at 6 p.m. ET for “Mad Money” as Nvidia CEO Jensen Huang joins CNBC’s Jim Cramer to talk about earnings results. Watch in real time on CNBC+ or the CNBC Pro stream.
CNBC’s reporters are covering Nvidia earnings from bureaus in San Francisco and Englewood Cliffs, New Jersey.
8 Min Ago
Nvidia ‘not immune to supply challenges’ as memory prices skyrocket
Memory prices around the world are soaring due to a shortage, partially caused by Nvidia, which needs high-performance HBM memory for its chips, and large quantities of lower-specification DRAM for its complete systems.
The price for DRAM for servers rose 64% in the second half of last year, and Trendforce expects it to jump 260% in 2026, according to an estimate published this month.
In the most recent quarter, Nvidia said higher device prices due to memory hurt demand for some consumer GPUs, but the company said it spent $145 billion in the first quarter to secure supply of the parts it needs.
“While we are not immune to supply challenges, we remain confident in our ability to support the growth opportunity ahead,” CFO Colette Kress said.
— Kif Leswing
39 Min Ago
Gross margin expected at 75%
Nvidia is expected to report a healthy 75% gross margin, the same place landed in the first quarter.
But Nvidia has spent heavily ahead to build inventory for the wide release of its Vera Rubin AI systems, and lots of parts like memory have seen prices skyrocket.
The company could also share some information about widely reported price hikes for its AI chips.
— Kif Leswing
41 Min Ago
Huang gets to discuss Nvidia’s credit strategy
Jensen Huang, chief executive officer of Nvidia Corp., holds an Nvidia DGX Spark super computer as he speaks at the company’s “Build a Claw” event in Tokyo, Japan, on Wednesday, July 15, 2026. Kiyoshi Ota | Bloomberg | Getty Images
Huang announced a program earlier this month with six leading financial firms who have pledge up to $500 billion in financing from investors. Their thesis is that chips have become an investable asset.
Nvidia’s prodigious cash flow and strong balance sheet is allowing it to offer residual value backstops to certain projects, and investors have wondered what that may mean for the chipmaker’s finances.
Morgan Stanley initiated credit coverage of Nvidia on Monday, and said there’s some strength to the company’s claim that financing pricey AI chips makes sense. But the firm wrote that the long-term risk is still hard to quantify.
“Our model and relative value are supportive, but we think the tail remains too early-stage, opaque, and sizable to step in,” Morgan Stanley credit analyst Lindsay Tyler wrote in the note.
— Kif Leswing
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