On August 26, 2026, NVIDIA reported results for the second quarter of fiscal 2027, which ended July 26, 2026. Revenue was $96.2 billion, up 18 percent from the prior quarter and up 106 percent from a year earlier. Data Center revenue was $89.0 billion, up 117 percent year over year and up 18 percent sequentially, driven by the ramp of the Blackwell Ultra infrastructure. GAAP and non-GAAP gross margins were both 75.0 percent, and GAAP diluted earnings per share were $2.46.
The guidance is the part that moved the market. For the third quarter of fiscal 2027, NVIDIA guided to revenue of approximately $108.0 billion plus or minus 2 percent, with gross margin of 74.0 percent plus or minus 50 basis points and GAAP operating expenses of $9.2 billion. A single quarter of guided revenue now exceeds what the company earned in all of fiscal 2024.
Jensen Huang framed the quarter in terms that were less about chips than about unit economics: “AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue. Demand is accelerating.”
For a business leader, the number to hold onto is the ratio: Data Center is roughly 92 percent of NVIDIA’s revenue, and NVIDIA’s revenue is a close proxy for what the rest of the industry is spending on AI capacity. When one supplier guides to $108 billion in a quarter, the capital commitments made by its customers - hyperscalers, neoclouds, sovereign programs and enterprises - are already locked in several quarters ahead.