NVIDIA posts $96.2B in Q2 revenue, blowing past estimates as the AI rally reignites
🎧 Post Summary
Quick Summary: NVIDIA reported fiscal Q2 2027 revenue of $96.22 billion on August 26, 2026 (local time), up 106% year-over-year and well above the consensus estimate of $92.17 billion. Data center revenue hit a record $89 billion (+117%), and Q3 guidance of $108 billion also topped the $104.2 billion consensus. CFO Colette Kress projected 70% revenue growth next fiscal year, far above the 44% analysts had expected. In Korea, HBM suppliers Samsung Electronics and SK Hynix both rallied on the news.
The AI chip investment boom is picking up steam again. NVIDIA’s second-quarter results, released on the 26th (local time), cleared the market’s already-high bar, reinforcing the view that the AI infrastructure investment cycle is still intact. It’s especially welcome news for Korean chipmakers — today we’ll walk through NVIDIA’s results and what they mean for the domestic stock market and the HBM supply chain.
① Q2 results crush market expectations
NVIDIA’s fiscal Q2 2027 (May–July 2026) revenue came in at $96.22 billion, up 106% year-over-year — more than $4 billion above the $92.17 billion average analyst estimate compiled by LSEG. Adjusted EPS of $2.22 beat the $2.08–$2.10 estimate range, and adjusted gross margin held at 75%.
② Data center revenue up 117%, HBM demand still robust
Data center revenue, which includes AI chips, drove the results — reaching a record $89 billion, up 117% year-over-year. Days before the earnings release, NVIDIA had told major customers it would raise AI server prices by more than 15% for shipments arriving in early 2027, a signal that elevated memory chip prices are likely to persist for a while.
③ Q3 guidance also tops consensus — 70% revenue growth forecast for next year
NVIDIA guided for Q3 (August–October) revenue of $108 billion (plus or minus 2%), above the pre-earnings consensus of $104.2 billion. On the earnings call, CFO Colette Kress projected 70% revenue growth for the next fiscal year (2028) — far above the 44% average analyst estimate. Kress said the figure was actually conservative given supply constraints. CEO Jensen Huang told the call that AI has reached an inflection point, underscoring confidence in long-term growth.
④ Korean chip stocks rally in tandem — Samsung and SK Hynix benefit
NVIDIA’s strong results fed straight through to Korean markets. In early trading on the 27th, Samsung Electronics rose about 3% and SK Hynix gained 4–5% from the prior close. SK Hynix holds the top spot in the global HBM market with a 58% share as of Q1 2026, while Samsung is catching up with HBM4 mass production. NVIDIA’s server price hikes are expected to be a near-term profitability boost for both memory suppliers.
📌 Things Investors Should Know
- Despite the beat, NVIDIA’s stock briefly dipped in after-hours trading right after the release — a sign that expectations were already running high, worth keeping in mind when gauging further upside.
- If higher memory prices get passed on to cloud and AI service pricing, that could become a variable for how fast AI demand keeps expanding.
- Non-AI segments like gaming could underperform relatively, so it’s worth checking results by business segment.
- Korean chip stocks may see higher volatility after a short-term rally, so risk management — like scaling into positions — is worth considering.
NVIDIA’s latest results confirm that the AI infrastructure investment cycle remains solid, while also pointing to a favorable environment continuing for HBM suppliers Samsung Electronics and SK Hynix. Along with remarks expected from the Fed at this week’s Jackson Hole symposium, memory pricing trends will be the next thing to watch.
References
- Hankyung — Why NVIDIA’s earnings surprised the market, and how Samsung/SK Hynix rallied too (hankyung.com)
- Newspim — US NVIDIA earnings surprise sparks Samsung/SK Hynix rally of nearly 4% (newspim.com)
- Etoday — Samsung and SK on alert ahead of NVIDIA earnings — will the memory boom continue? (etoday.co.kr)
- Herald Corp — Thank you, NVIDIA: Samsung and SK Hynix shares get a lift too (biz.heraldcorp.com)
- Media Watch — NVIDIA’s Q2 earnings surprise: Samsung/SK Hynix benefit from rising memory prices (mediawatch.kr)
- Money Today — NVIDIA sees 70% revenue growth next year as the memory bull market heats up (mt.co.kr)
- Investing.com — Nvidia tops quarterly estimates, shares dip after hours (investing.com)