Nvidia reported second-quarter revenue of $96.2 billion on August 27, 2026, up 106% from a year ago. Driven by a bullish forecast projecting 70% revenue growth for fiscal 2028, the chipmaker’s blowout earnings propelled the Nasdaq up 0.83% and relieved investor anxieties surrounding the global artificial intelligence infrastructure buildout.
Wall Street found a steady anchor this week as the world’s most valuable company delivered a blockbuster financial report that swept aside mounting market jitters over artificial intelligence capital expenditures. Nvidia reported that total revenue for the second quarter ended July 26, 2026, reached $96.2 billion, marking an 18% increase from the previous quarter and a staggering 106% surge year-over-year.
The numbers comfortably outpaced Wall Street estimates, sending company shares higher by over 7% in premarket trading. The broader market responded in tandem. The tech-heavy Nasdaq Composite climbed 217.12 points to close at 26,342.87, while the S&P 500 rose 0.35% to 7,702.44, and the Dow Jones Industrial Average added 35.72 points to finish at 53,499.60.
Financial Breakdown and Margins
The underlying profitability of the chipmaker matched its top-line expansion. According to financial results released by NVIDIA Newsroom, GAAP and non-GAAP gross margins both landed at a robust 75.0% for the quarter. Diluted earnings per share came in at $2.46 on a GAAP basis and $2.22 on a non-GAAP basis.
Nvidia also demonstrated massive cash returns to its investors, distributing approximately $26.0 billion during the quarter through share repurchases and cash dividends. The company maintained approximately $99.0 billion remaining under its share repurchase authorization, alongside a declared quarterly cash dividend of $0.25 per share payable on October 1, 2026, to all shareholders of record on September 10, 2026.
Visibility, Supply Constraints, and Diversified Demand
Looking ahead, Chief Financial Officer Colette Kress revealed that the company expects revenue growth of 70% for fiscal 2028, running from February 2027 to January 2028. Chief Executive Officer Jensen Huang noted that actual demand is much greater than 70%,
but production remains constrained by manufacturing capacity across supply chains, including main manufacturer Taiwan Semiconductor Manufacturing Co. and crucial memory components.
Huang defended the forecast horizon by pointing to greater sector visibility.
“This time last year, one lab alone was driving the build-out. Today, we have a golden age of new AI labs and startups, multiple frontier labs scaling in parallel, a thriving open-model ecosystem and physical AI coming online — with strong momentum across the U.S. and around the world.”
Jensen Huang, CEO of NVIDIA
The company also moved to reassure investors worried about customer concentration.
Broader Market Impact and Semiconductor Rallies
The positive guidance cascaded across the global semiconductor and technology supply chain. Chip stocks rallied sharply, with Micron rising 4.5%, Marvell gaining 5.7%, Arm climbing 4.7%, Intel up 3%, and Advanced Micro Devices adding 1.7%. Neocloud providers Nebius and CoreWeave also experienced premarket jumps of roughly 7.5% and 6%, respectively.
Software firms joined the upward momentum. Salesforce surged 14.4% after raising its annual revenue and profit forecasts and integrating Anthropic’s Claude AI models, while CrowdStrike climbed 14.5% following an upgraded annual revenue outlook. Both reports helped alleviate investor fears that advanced generative AI tools might disrupt traditional enterprise software models.
What Lies Ahead
As the dust settles on the quarterly print, investor attention immediately pivots back to macroeconomic indicators.
