Nvidia Earnings: Live Updates and Commentary August 2026
Nvidia stock snaps its losing streak ahead of earnings
Nvidia stock closed up 2.2% on Tuesday, snapping a seven-day losing streak. This came amid a broader rebound in semiconductor stocks, with Marvell Technology (MRVL, +4.8%) among those rallying ahead of its turn on the earnings calendar after Thursday’s closing bell.
“Here’s the setup nobody’s saying out loud,” Siebert Chief Investment Officer Mark Malek observes. “Nvidia has beaten every quarter for two straight years, they’re about to double revenue year-over-year and the stock is flat since the last earnings call. Flat! That tells you the market has already priced in perfection and moved on to the next question.”
As Malek explains, what matters is management’s guidance for Nvidia’s fiscal third quarter. “Consensus is around $104 billion, but the buyside is whispering higher,” the CIO says, “and that gap is where the stock lives or dies.”
Malek is looking for CEO Jensen Huang “to hand the market a new story: Rubin ramping ahead of schedule, China coming back, something. Otherwise he delivers the greatest quarter in the history of the semiconductor industry and the stock does nothing again.”
Read more: Stocks Rise as Nvidia Ends Losing Streak: Stock Market Today
– David Dittman
David Dittman
David Dittman is the former managing editor and chief investment strategist of Utility Forecaster and the former editorial director of Investing Daily, Charles Street Research, and Weiss Ratings. A former stockbroker, David has been working in financial media for more than 20 years.
Nvidia earnings preview: Ken Mahoney on AI spending, China and the stakes for tech
Nvidia’s earnings reports have become bellwether events for the technology sector and the broader AI economy. The company is once again expected to deliver strong results, but with investor expectations already elevated, another routine beat may not be enough. Ken Mahoney, CEO of Mahoney Asset Management, discusses what investors should watch:
What do you expect from Nvidia’s upcoming earnings report?
We expect another strong quarter from Nvidia, but at this point simply beating and raising may not be enough given how high expectations have become. That is usually the case most quarters for them, as they are known for beating and raising essentially every time. So, it comes down to the magnitude in which they can exceed expectations.
What will investors focus on most closely?
We believe that investors will focus on forward data center demand, gross margins and whether management sees AI infrastructure spending remaining durable into 2027.
The tech and AI infrastructure ecosystem stocks are not acting too hot lately, and maybe this report will give some color to that. From a technical level, the semiconductor group corrected, rallied back to the 50-day moving average and fell again which is a bearish signal, and Nvidia is one of the few that still holds up better than the rest, and at least is somewhat within range of its highs.
So, this report can help ignite tech again, or send most of the tech ecosystem into an even further decline since this is a bellwether report, as always with Nvidia.
How concerned should investors be about circular financing within the AI industry?
The circular-financing concerns are worth watching, since Nvidia continuously uses its own capital across the AI ecosystem and invests in other companies that then use their products, or have business ties. Investors will rightfully want reassurance that underlying demand remains organic.
Does AI infrastructure spending remain sustainable, and how do you view the risks involving China?
So far, AI infrastructure spending still looks sustainable, and I’ll be listening for whether the primary constraints remain power, land, networking and supply rather than weakening customer demand.
As for China, on balance we believe it is both an opportunity and a significant risk, particularly a regulatory risk. However, considering Nvidia is such a big stock market proponent, we think the Trump administration will not step in its way with any export controls.
Overall, this report needs to answer the question that comes up every quarter, and that is whether the AI ecosystem can generate enough economic value and ROI to justify the ever-growing amount of capital and debt being committed to it.
– Tom Taulli
Why Nvidia could bet billions on Perplexity
Nvidia is reportedly considering an investment in Perplexity in a new equity funding round, which would value the AI startup at over $30 billion. If completed, the deal would deepen a relationship that already includes earlier investments by the mega cap and Perplexity’s planned use of Nvidia’s Vera CPU.
Founded in 2022, Perplexity was one of the pioneers in applying generative AI to conversational search. Its initial focus was providing research services that delivered direct answers with links to original sources. But Perplexity has since expanded into AI agents and agentic browsing. Its annual recurring revenue is currently over $750 million.
For Nvidia, investing in Perplexity will provide clear benefits. For one, it will allow Nvidia to gain insight into how AI search and agents consume compute resources. This will help with the development of future chips and systems. Additionally, a partnership will extend Nvidia’s influence beyond hardware and give it a larger role in shaping the software platforms. This could prove helpful in the company’s efforts to develop its own open-source models.
Ultimately, the potential deal highlights how the boundaries between AI hardware, software and investment are rapidly disappearing.
– Tom Taulli
Hedge funds bought NVDA stock in Q2
Nvidia shares slightly underperformed the broader market in Q2, generating a total return (price change plus dividends) of 14.9% vs the S&P 500’s 15.2% gain.
(Image credit: YCharts)
From March 31 through June 30, hedge funds were net buyers of Nvidia stock. According to WhaleWisdom, 86 hedge funds initiated new positions in NVDA and 417 increased their stakes.
This compares to 69 hedge funds that closed their Nvidia stakes and 354 that decreased their exposure to the chipmaker.
The net change in hedge fund ownership amounted to 8.86 million shares.
Read more: Best Blue Chip Stocks: 21 Hedge Fund Top Picks
– Karee Venema
Nvidia’s Poolside deal raises the stakes in the AI model wars
Bloomberg reported on Friday that Nvidia has entered a $6 billion agreement to license AI models from Poolside. The chip giant also agreed to invest $1 billion in the startup at a $12 billion valuation.
In 2023, Jason Warner, GitHub’s former chief technology officer, and software entrepreneur Eiso Kant co-founded Poolside. The company’s focus is to build models for software development.
Nvidia’s deal with Poolside is a key part of its focus on supporting open-source models with its Nemotron project. These models allow for more customization and transparency and may also be more cost-effective. This is certainly a top-of-mind issue for customers that have had to deal with soaring AI budgets for token usage.
NVDA’s efforts represent a major competitive threat to OpenAI and Anthropic, which rely primarily on closed models. There would also be competitive pressures for Chinese model builders, including DeepSeek and Kimi K3. Keep in mind that U.S.-based customers are concerned about potential security issues with these systems.
A recent Wall Street Journal story suggests Nvidia’s deal with Poolside could mean it will launch an open-source model that will be on par with state-of-the-art frontier models. If so, this would certainly shake the AI world, especially as OpenAI and Anthropic seek to maintain their significant growth rates ahead of their upcoming IPOs.
– Tom Taulli
Nvidia stock trades higher ahead of earnings
Nvidia stock is trading higher on Tuesday, up 1.4% at last check amid a broader rally in chip names.
Longer term, it’s been a fairly tame year for NVDA, which is in the middle of the pack when it comes to year-to-date returns for Dow Jones stocks. Shares are up just 13% since the start of 2026 vs gains of nearly 46% and 32% for top-performing healthcare stocks Merck (MRK) and Johnson & Johnson (JNJ).
Still, Wall Street is overwhelmingly bullish toward Nvidia. Of the 61 analysts covering the chipmaker who are tracked by S&P Global Market Intelligence, 58 say it’s a Buy or Strong Buy, while two have it at Hold and one says it’s a Strong Sell. This works out to a consensus Strong Buy recommendation.
And the average price target of $305.41 represents implied upside of 44% to current levels.
– Karee Venema
Why BofA thinks Nvidia is deeply undervalued
BofA Securities analyst Vivek Arya is sticking his neck out for Nvidia. While Wall Street is concerned about the chipmaker’s upcoming earnings report, Arya thinks that this is an overreaction.
According to his sum-of-parts analysis of Nvidia’s free cash flow, the stock is trading at a 34% to 50% discount.
Arya acknowledges the risks, which include heavy investments in the ecosystem and concerns about the return on investment (ROI) for AI. Yet he thinks Nvidia will continue to generate substantial free cash flow.
The fact is, the company’s GPUs remain the gold standard. And if demand for AI infrastructure continues to expand, Nvidia remains in a strong position to capture a large share of that spending.
As for the earnings report, Arya expects quarterly revenue of $94 billion to $95 billion, above the company’s $91 billion guidance. He also believes that third-quarter guidance will come in at $107 billion to $108 billion, compared to the $104 billion Wall Street consensus.
– Tom Taulli
Does Nvidia pay a dividend?
In May, Nvidia hiked its quarterly dividend to 25 cents per share from 1 cent per share. This works out to an annual per-share payout of $1.00.
Based on the chipmaker’s current share price, Nvidia’s dividend yield is 0.5%. This is well below the S&P 500’s current dividend yield of 1.1%.
In fiscal 2026, Nvidia paid roughly $974 billion in dividends. It also bought back $40.1 billion in stock.
Related: The Kiplinger Dividend 15: Our Favorite Dividend-Paying Stocks
– Karee Venema
Expert interview: Is Nvidia building a flywheel or a circular economy?
Nvidia has become the most influential barometer for the health of the AI economy. Its GPUs sit at the foundation of the massive buildout of models, data centers and AI infrastructure. But more and more, the bigger question is: what happens above the infrastructure layer? Can companies turn all that compute into applications that generate business value that moves the needle?
That makes the perspective of Anurag Gurtu, co-founder and CEO of Airrived, particularly important. He’s building an enterprise agentic AI platform for cybersecurity, IT and business operations that allow AI agents to scale.
I recently spoke with Gurtu about Nvidia’s upcoming earnings release. Here’s what he had to say:
What are your expectations for Nvidia’s performance this quarter, and what specific metrics or guidance do you most want to see?
I expect another strong quarter, but the headline number is almost secondary. The real question is whether underlying AI demand is accelerating faster than expectations. I’ll watch data-center growth, Blackwell demand, margins, and, above all, forward guidance.
There is also going to be intense scrutiny around the “circular economy” of AI. Nvidia is investing in AI companies that raise enormous amounts of capital, which is then spent on Nvidia GPUs and infrastructure. It’s an extraordinary amount of capital moving between chipmakers, hyperscalers, model companies, data-center operators and AI startups.
The AI economy is beginning to finance itself: capital funds infrastructure, infrastructure enables larger models and startups, and those companies consume even more infrastructure. That can create an incredibly powerful flywheel, but it also raises the obvious question of how much real economic value exists at the end of that chain.
What does this earnings report signal for the AI industry as a whole?
Nvidia earnings have effectively become the GDP report for the AI economy. But this quarter, the quality of that GDP matters as much as its growth.
The next phase of AI has to demonstrate that trillions invested in GPUs, data centers and models can translate into measurable enterprise productivity and revenue. Eventually, AI cannot survive on AI companies selling to other AI companies. Enterprises have to become the economic engine.
That’s why the next trillion dollars of value won’t come simply from buying more GPUs. It will come from turning compute into agents, applications and measurable business outcomes.
– Tom Taulli
Tom Taulli has been developing software since the 1980s. He sold his applications to a variety of publications. In college, he started his first company, which focused on the development of e-learning systems. He would go on to create other companies as well, including Hypermart.net that was sold to InfoSpace in 1996. Along the way, Tom has written columns for online publications such as Bloomberg, Forbes, Barron’s and Kiplinger. He has also written a variety of books, including Artificial Intelligence Basics: A Non-Technical Introduction.
How will the stock market react to Nvidia’s earnings?
Wedbush analyst Matt Bryson expects Nvidia to beat top- and bottom-line estimates for its fiscal 2027 second-quarter results and give upbeat fiscal third-quarter guidance on strong hyperscale spending.
Bryson also feels the results will be bolstered by “a supply position we continue to view as the best in the industry at a point where component and material access, not end demand, is defining shipments.”
The question, though, is how Wall Street will react to the results. “The last three quarters, NVDA has consistently exceeded consensus (and we believe delivered to buy-side expectations), yet the stock is roughly unchanged from October of last year,” he explains.
Bryson has an Outperform (Buy) rating on the chip stock and a $330 price target, representing implied upside of nearly 60% over the next year or so.
– Karee Venema
Karee Venema
With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021, and oversees a wide range of investing coverage, including content focused on equities, fixed income, mutual funds, ETFs, macroeconomics and more.
What time is Nvidia’s earnings release?
Nvidia will release its fiscal 2027 second-quarter earnings report after the stock market closes on Wednesday, August 26. The results typically come through around 4:20 pm to 4:30 pm Eastern Standard Time.
The release of Nvidia’s earnings report will be followed by a conference call that begins at 5 pm EST.
