Overview
- Nvidia reported second-quarter fiscal 2027 revenue of $96.2 billion after Wednesday's earnings, driven by $89 billion in data-center sales that amounted to about 92% of the quarter's revenue.
- Management guided roughly $108 billion for the current quarter and projected about 70% revenue growth for fiscal 2028, signaling continued strong demand for AI compute.
- The board left the quarterly dividend unchanged at $0.25 following a May increase from $0.01, a move that has raised investor questions about the company's capital-allocation plans despite massive cash generation.
- Shares swung sharply after the report and are trading with unusually low three-month correlation to the PHLX Semiconductor Index, a pattern that reflects company-specific drivers and higher investor scrutiny.
- Analysts and investors warn of concrete risks to sustainment: rising high-bandwidth memory and advanced-packaging costs that can press gross margins, export-control and supply limits that cap near-term capacity, and large ecosystem financing commitments that expose Nvidia's balance sheet.