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NewsDeals · NVDA

Nvidia's data-center capacity clears $89 billion as Vera Rubin enters full production

Data-center revenue at Nvidia (NVDA) hit $89 billion in the second quarter of fiscal 2027, a 117% year-over-year gain that now accounts for more than 90% of the company's top line. Total revenue of $96.2 billion cleared the $91.8 billion Wall Street consensus. The next number in focus is Q3 guidance of $108 billion, plus or minus 2%.

By Miles BroadbentNewsroomSeptember 5, 20262 min readNVDA ·GOOGL ·MSFT ·JPM
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Key takeaways

  • Nvidia's data-center revenue reached $89 billion in Q2 fiscal 2027, up 117% year-over-year and now more than 90% of total revenue.
  • Total revenue of $96.2 billion beat the $91.8 billion Wall Street consensus, while non-GAAP EPS of $2.22 topped the $2.09 estimate.
  • Vera Rubin infrastructure reached full production during the quarter, with racks running at CoreWeave, Alphabet, Microsoft, Oracle, and Nebius.
  • Nvidia guided Q3 revenue to $108 billion (plus or minus 2%) with a 74% gross margin.
  • Nvidia is reportedly set to acquire open-source AI platform Hugging Face for $12.9 billion.

Data-center revenue at Nvidia (NVDA) hit $89 billion in the second quarter of fiscal 2027, a 117% year-over-year gain that now accounts for more than 90% of the company's top line. Total revenue of $96.2 billion cleared the $91.8 billion Wall Street consensus. The next number in focus is Q3 guidance of $108 billion, plus or minus 2%.

The throughput picture

Vera Rubin infrastructure reached full production during the quarter, with racks running at CoreWeave (CRWV), Alphabet (GOOGL), Microsoft (MSFT), Oracle (ORCL), and Nebius (NBIS). Demand continues to outpace supply, per the company: that lead-time gap is what a 117% data-center surge looks like when it lands on the income statement. Non-GAAP operating income climbed 124% year-over-year to $63.96 billion. Non-GAAP EPS of $2.22 cleared the $2.09 consensus estimate.

The Aug. 27 session saw shares pop almost 9% on the print. Over the trailing 52 weeks, NVDA is up 25% and 17% year-to-date. The stock sits roughly 7% off its 52-week high of $236.54, set May 14. On a forward-adjusted basis, the P/E is 23.9 times, slightly above an industry average near 23 times.

The setup

Q3 guidance calls for $108 billion in revenue (plus or minus 2%) and a 74% gross margin (plus or minus 50 basis points). Analysts expect non-GAAP EPS of $2.47 in Q3, a 99% year-over-year gain. The full fiscal 2027 consensus puts EPS at $9.10, also up 99% year-over-year, with $15.12 projected for fiscal 2028, implying 66% growth.

Separately, Nvidia is reportedly set to acquire Hugging Face, the open-source AI platform, for $12.9 billion, fitting with CEO Jensen Huang's stated strategy of building the AI world on the American stack. Post-earnings, Bernstein SocGen raised its price target from $315 to $400 with an "Outperform" rating. JPMorgan moved from $280 to $320 with "Overweight." UBS analyst Timothy Arcuri lifted his target from $280 to $300, citing results and guidance. Of 49 analysts covering NVDA, 44 carry a "Strong Buy," with the consensus average target of $324.44 implying 47% potential upside from current levels.

Related reading

About this story

Filed by the newsroom of MarketPR on September 5, 2026. Source: finance.yahoo.com. Indicative figures are not investment advice.

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Frequently asked

How much did Nvidia's data-center revenue grow and what share of the business is it?

Data-center revenue hit $89 billion in Q2 fiscal 2027, a 117% year-over-year gain that now accounts for more than 90% of the company's top line.

What is Nvidia's guidance for Q3?

Nvidia guided to $108 billion in revenue (plus or minus 2%) and a 74% gross margin (plus or minus 50 basis points), with analysts expecting non-GAAP EPS of $2.47, a 99% year-over-year gain.

How did Nvidia's stock react to the earnings?

Shares popped almost 9% in the Aug. 27 session on the print, leaving the stock roughly 7% off its 52-week high of $236.54 set May 14.

What company is Nvidia reportedly acquiring?

Nvidia is reportedly set to acquire Hugging Face, the open-source AI platform, for $12.9 billion, fitting CEO Jensen Huang's strategy of building the AI world on the American stack.

What do analysts think of Nvidia's stock after earnings?

Of 49 analysts covering NVDA, 44 carry a Strong Buy, with a consensus average target of $324.44 implying 47% upside, and firms including Bernstein SocGen, JPMorgan, and UBS raised their price targets.