Nvidia Q2 Earnings Preview: High Expectations Amid AI Bubble Concerns and Supply Challenges

Nvidia (NVDA) faces a pivotal moment as it prepares to release fiscal Q2 2026 results, with Wall Street anticipating revenue of $45.9 billion—a 53% year-over-year surge—and earnings per share NEAR $1.00. The chipmaker’s performance is seen as a bellwether for the AI sector, yet market sentiment has turned cautious following recent volatility. Shares dipped 3.5% last week after OpenAI’s CEO hinted at an AI bubble, while an MIT report noted limited returns from generative AI investments, dragging the Nasdaq down 7%.

Supply chain hurdles compound the pressure. Production delays for Nvidia’s Blackwell GPUs, tied to Taiwan Semiconductor Manufacturing Co., threaten to push full-scale shipments into next year. This bottleneck could undermine the company’s ability to capitalize on soaring demand, even as it navigates export restrictions and geopolitical tensions.