Overview
- Analysts expect Nvidia to post roughly $54.9 billion in quarterly revenue, with management previously citing about $500 billion of chip bookings through 2026 as gross margin is projected to ease versus last year.
- Nvidia shares have fallen about 8% in November after touching a $5 trillion valuation in late October, part of a broader tech pullback tied to shifting rate-cut expectations and weaker risk appetite.
- Prominent moves by investors have heightened caution, including SoftBank’s $5.8 billion sale of its Nvidia stake, Peter Thiel’s exit, and Michael Burry’s large put positions against Nvidia and Palantir.
- Oracle’s aggressive AI pivot and debt-funded data center spending have coincided with an approximately 25% monthly drop in its stock, fueling questions about the scale and financing of sector-wide capex.
- Key overhangs include U.S. curbs on advanced chip sales to China, supply constraints as TSMC expands advanced packaging capacity, and scrutiny of circular deals and depreciation assumptions at major AI buyers.