Overview

• Nvidia posted $46.7 billion in fiscal Q2 2026 revenue as data center sales rose 56% year over year, with gaming at $4.3 billion up 49% and automotive at $586 million up 69%, driven by the Blackwell platform.
• Management signaled continued demand with guidance reported around $54 billion for the next quarter, reflecting ongoing strength across compute, networking, gaming, robotics, and automotive.
• Beyond hardware, Nvidia is deepening its moat through CUDA and expanding into full‑stack systems, introducing the Thor robotics platform and promoting the DRIVE AV software stack for autonomous vehicles.
• Adoption of Thor spans major players including Amazon Robotics, Boston Dynamics, Caterpillar, Figure AI, Medtronic, and Meta, positioning robotics as a long‑term driver of compute demand.
• Export controls halted H20 sales to China and triggered a $4.5 billion write‑down, and executives said a potential arrangement that sends 15% of H20 revenue to the U.S. government could unlock licenses, with $2 billion to $5 billion in Q3 shipments possible if approved.