The magnitude of the beat and raise is extraordinary — revenue and EPS both crushed consensus by double digits, and Q3 guidance of $108B implies continued acceleration. The $279B supply commitment and $105B guarantee with OpenAI/SB Energy signal unprecedented demand visibility. Traders should expect a strong gap-up and potential for further upside as the AI capex cycle narrative strengthens. Key risk is the sequential DSO jump to 60 days and the $25B debt issuance, but these are dwarfed by the demand signals.
Price Chart
Executive Summary
NVIDIA reported Q2 FY27 revenue of $96.2B (+106% YoY) and GAAP EPS of $2.46, significantly exceeding consensus estimates of $92.18B and $2.09. Data Center revenue hit a record $89.0B (+117% YoY), and Q3 revenue guidance of $108.0B (+2%) crushed expectations. The AI infrastructure buildout is accelerating, with Vera Rubin in full production and massive capital commitments ($279B in supply commitments, $108.5B in guarantees). This is a transformative beat-and-raise quarter that validates the AI capex supercycle.
Key Financial Metrics
Key Facts
- Revenue of $96.2B, up 106% YoY and 18% QoQ, a record
- GAAP EPS $2.46 vs consensus $2.09 (+17.7% beat)
- Data Center revenue $89.0B, up 117% YoY, a record
- Q3 FY27 revenue guidance $108.0B (+2%), well above consensus
- GAAP gross margin 75.0%, up 260 bps YoY
- Returned ~$26.0B to shareholders via buybacks and dividends in Q2
- Supply commitments surged to $279B from $119B last quarter
- Entered $105B guarantee with SB Energy for 4.25 GW AI data center buildout
- Issued $25.0B in senior unsecured notes for general corporate purposes
- Vera Rubin platform now in full production with major cloud partners
Financial Impact
Revenue beat of ~$4.0B vs consensus; EPS beat of $0.37; Q3 guidance $108.0B vs consensus ~$95B
Risk Factors
- DSO increased to 60 days from 45, indicating extended payment terms
- $25B debt issuance adds leverage; total debt now ~$33.4B
- China export restrictions remain a headwind (no Data Center compute revenue assumed)
- Gross margin guidance of 74.0% for Q3 is down 100 bps from Q2
- Massive supply commitments ($279B) create execution risk if demand slows
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001045810-26-000073 |
| Document: 0001045810-26-000073-index.html | 0001045810-26-000073 |
| Document: 0001045810-26-000073.txt | 0001045810-26-000073 |
| 8-K Data (Synthetic) | 0001045810-26-000073 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 21d ago | ANALYST-UPGRADE | — | awaiting T+5 | — | — |
Sep 3, 2026 29d ago | 8-K | $228.45 $218.29 | ▼ −4.45% | ▼ −3.30% | $230.86 (+1.05%) |
Sep 3, 2026 29d ago | 3 | $228.45 $218.29 | ▼ −4.45% | ▼ −3.30% | $230.86 (+1.05%) |
Sep 2, 2026 4w ago | Insider Cluster | $224.41 $218.36 | ▼ −2.70% | ▼ −1.74% | $230.86 (+2.87%) |
Sep 2, 2026 4w ago | Insider Cluster | $224.41 $218.36 | ▼ −2.70% | ▼ −1.74% | $230.86 (+2.87%) |
Aug 31, 2026 4w ago | 144 | $220.78 $225.73 | ▲ +2.24% | ▲ +2.38% | $230.86 (+4.57%) |
Aug 26, 2026 5w ago | Press Release | $227.98 $228.45 | ▲ +0.21% | ▼ −0.06% | $230.86 (+1.26%) |
Aug 26, 2026 5w ago | Press Release | $227.98 $228.45 | ▲ +0.21% | ▼ −0.06% | $230.86 (+1.26%) |
Aug 26, 2026 5w ago | 8-K | $209.66 $224.41 | ▲ +7.04% | ▲ +7.16% | $230.86 (+10.11%) |
Aug 24, 2026 5w ago | Press Release | $208.48 $220.78 | ▲ +5.90% | ▲ +5.43% | $230.86 (+10.73%) |
US Market Status
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