NVIDIA (NVDA) shares closed at $204.64, down 4.2 percent today, but the stock has delivered staggering returns: up nearly 15 percent in 2026, up 429 percent over three years, and up 759 percent over five years. The company's $5 trillion market capitalization now exceeds most nations' GDP.
The chipmaker reports fiscal 2027 third-quarter earnings on Nov. 17. Wall Street consensus projects $109 billion in revenue and $2.47 in adjusted earnings per share—representing roughly 91 percent year-over-year revenue growth and 90 percent earnings growth.
In fiscal Q2, which ended July 26, Nvidia generated $96.2 billion in revenue, a 106 percent increase year-over-year. Data center revenue climbed 117 percent to $89 billion. Non-GAAP gross margin reached 75 percent, and adjusted EPS rose 120 percent to $2.22.
For Q3, the company guides to approximately $108 billion in revenue—a substantial jump from $57 billion in the prior-year period.
CEO Jensen Huang believes global spending on AI infrastructure could reach $3 trillion to $4 trillion by 2030. He also indicated Nvidia expects to double its chip sales in 2027 compared to 2026.
Major tech buyers are backing that demand. Meta increased its 2026 capital spending guidance from $135 billion to $145 billion. Alphabet kept its 2026 budget between $195 billion and $205 billion but expects significant increases in 2027. Microsoft reduced its 2026 spending from $175 billion to $170 billion, but CFO Amy Hood said the company anticipates accelerated spending in the first half of 2027 due to higher component costs and delayed deliveries.
