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Nvidia Earnings: Chip Spending, China in Focus With Stock Near Highs

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Nvidia Jensen Huang



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Updated

2025-08-27T14:32:45Z

Nvidia will release its second-quarter earnings after the closing bell on Wednesday.
Shares of the tech giant were up 35% year-to-date through Tuesday.
Wall Street remains bullish on the stock, and will be looking for updates on hyperscaler spending.

Nvidia will report fiscal second-quarter earnings on Wednesday after the closing bell.

Wall Street will be closely watching for signs that AI-chip demand from hyperscalers like Microsoft, Meta, and Amazon is staying strong. Investors will also be looking for updates on how Nvidia is faring in China.

The earnings-release time is shortly after 4 p.m. ET, and its conference call with analysts will start around 5 p.m.

Nvidia’s stock was up 35% year-to-date through Tuesdays’s close, handily outpacing the S&P 500’s 10% increase.

2025-08-27T14:30:27Z

Evercore ISI: Nvidia remains a ‘top pick’

Nvidia president and CEO Jensen Huang holds a graphics card NVIDIA 4060Ti and a laptop at a keynote presentation at Computex, or the Taipei International Information Technology Show, on May 29, 2023.

Evercore said its industry checks suggested Nvidia’s software was the “solution of choice” for training large language models.


Walid Berrazeg/Getty Images

Evercore analysts said they expected AI capex to soar 72% in 2025, adding that cloud demand at companies like Amazon and Azure suggested that AI “hit a tipping point at enterprises.”

Industry checks also suggest there’s strong demand for Nvidia’s Blackwell product line, and that the company’s software remains the “solution of choice” for training large language models.

“NVDA remains our top pick, near-term due to improving visibility, longer-term, as we believe it could ultimately capture up to 16% weighting of the S&P 500 Index,” they added. At the time analysts wrote the note, Nvidia made up around 8% of the benchmark index.

Evercore reiterated its “Outperform” rating on the stock and lifted its price target to $214 a share from $190 a share, implying 19% upside from current levels.

2025-08-27T13:50:02Z

Nvidia’s consensus second-quarter revenue estimate is $46.23 billion.

Second quarter

Third quarter

Revenue estimate: $53.46 billionAdjusted gross margin estimate: 73.4%Adjusted operating expenses estimate: $4.26 billionCapital expenditure estimate: $1.23 billion

Full year 2026

Revenue estimate: $203.68 billionCapital expenditure estimate: $4.72 billion

Source: Bloomberg



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