Nvidia(US:NVDA) Di Yi Cai Jing·2025-08-28 00:28Core Viewpoint - Nvidia's Q2 FY2026 earnings report shows strong revenue growth but raises concerns about future growth potential due to lower-than-expected data center revenue [1][3]. Financial Performance - Nvidia reported Q2 revenue of $46.743 billion, a 56% year-over-year increase, slightly exceeding market expectations [1]. - Net profit for the second quarter was $26.422 billion, up 59% year-over-year, with a gross margin of 72.4% [1]. - Data center revenue reached $41.1 billion, also a 56% year-over-year increase, but fell short of market expectations [3]. Business Segments - Gaming and AI PC revenue was $4.3 billion, a 49% year-over-year increase [3]. - Professional visualization revenue was $601 million, up 32% year-over-year [3]. - Automotive and robotics revenue was $586 million, showing a 69% year-over-year growth [3]. Product Development - The Blackwell architecture chips are in full production, with significant demand noted by the CEO [3][4]. - The RTX Pro server is also in full production, with nearly 90 companies adopting it for real-time simulation and digital twin applications [4]. - Nvidia anticipates over $20 billion in sovereign AI revenue this year, more than doubling from the previous year [4]. Market Outlook - Nvidia's CFO indicated that AI infrastructure investments will continue to grow, driven by the need for more training and inference computing [4]. - Capital expenditures in data center infrastructure are expected to reach $600 billion this year, nearly doubling over two years [4]. - Nvidia aims to capture a $3 trillion to $4 trillion opportunity in AI infrastructure over the next five years [5]. Networking Solutions - Nvidia's networking business generated $730 million in revenue, with significant growth in InfiniBand revenue [6]. - The company emphasizes the importance of network connectivity for enhancing performance and throughput [6]. Future Guidance - For Q3, Nvidia projects revenue of $54 billion, with a gross margin of 73.3% [6].