NVIDIA Corporation (NVDA) Q2 2026 Earnings Report

NVIDIA reported a record quarter (QQ2 2026) with total revenue of $46.7 billion, up 55.6% year over year and 6.1% quarter over quarter. Data center revenue rose 56% YoY, underscoring a durable AI infrastructure upgrade cycle, while gaming revenue reached a record $4.3 billion, driven by the Blackwell-enabled GeForce RTX lineup and ramping supply. The company’s GAAP gross margin was 72.4% and non-GAAP gross margin 72.7%, aided partly by a $180 million inventory release benefit. Despite a disciplined inventory build (inventory rose from $11B to $15B to support Blackwell/Ultra ramp), NVIDIA returned about $10B to shareholders via buybacks and dividends and boosted buyback authorization to $60B. Management provided a robust Q3 guide of approximately $54B revenue (+/- 2%), with gross margins around 73.3–73.5% and higher, ongoing investment in Blackwell/Rubin ramps, and no H20 China shipments included in the outlook. The long‑term storyline remains compelling: AI infrastructure spend is expected to reach $3–$4 trillion by decade’s end, with NVIDIA uniquely positioned as an end‑to‑end AI infrastructure platform (hardware, software, and ecosystem) across cloud, on‑prem, edge, robotics, and sovereign AI initiatives. Risks cited include geopolitical/licensing uncertainties around H20 shipments to China and the substantial execution demands of Rubin/Rack‑Scale AI deployments, but the company’s balance sheet, cash flow generation, and multi‑year product cadence support a constructive, long‑duration investment thesis for NVDA.”,