Nvidia’s AI Chip Dominance Faces High Expectations Ahead of Q3 Earnings
Nvidia's stock has remained relatively flat since its last earnings report in August, despite another quarter of explosive growth. Revenue surged 56% year-over-year, with data center sales of its Blackwell AI platform climbing 17% sequentially. The muted response reflects Wall Street's anticipation of yet another beat—shares had already rallied 20% in the weeks preceding the announcement.
With fiscal Q3 results due November 19, history may repeat itself. Management forecasts 15% sequential revenue growth, excluding potential China shipments of the H20 chip. Such projections would be extraordinary for most firms, but Nvidia has made them routine. The real test comes when even these towering expectations must be surpassed to move the needle.