Nvidia’s Fiscal Q3 Earnings Preview: The Pressure Is On

Nvidia has surged this year with 241% gains YTD, which has more than doubled the returns of the FAANGs. This is no small feat considering it’s widely understood Big Tech is holding up the broader market. Valuations are stretched and leadership is only narrowing; to say there’s pressure going into Nvidia’s report this evening is an understatement.

The outsized demand for the H100 has led to historic moments as Nvidia is expected to exit this fiscal year with quarterly data center revenue of $14 to $15 billion compared to $3.6 billion per quarter at FY2023 exit. Should these estimates be correct (we will get the official guide this evening), Nvidia will end the year with a bang with approximately 300% growth in the final fiscal quarter.