Reward 500 Tiger-coins$NVIDIA(NVDA)$ has been setting new highs preearnings.
Goldman's buy call. Goldman expects a "beat-and-raise" quarter but explicitly flags: the bar for outperformance is very high after positive supply chain signals from TSMC and SK Hynix have already elevated consensus.
Q2 Preview: GS estimates revenue $87.7B (vs Street $85.1B, +3%), Data Center $82.1B (+4%).
Two Signals the Market Hasn't Fully Priced
① $1 Trillion Data Center Revenue Visibility
Blackwell + Rubin platform revenue runway. Goldman raised FY27/28 EPS to $9.35 / $14.80 — 14% / 34% above Street. FY29 EPS: $18.75, +42% above consensus. This isn't a small revision — it's a systematic repricing of NVIDIA's long-term earnings power.
② Agentic AI Creates a New CPU Demand Curve
NVIDIA's CPU-only rack is expected to begin shipping in 2H26 — a business that's been almost entirely unpriced by the market. As AI shifts from training to agentic inference, CPU scheduling demand is surging. NVIDIA is no longer just a GPU company. Add in accelerating demand from OpenAI, Anthropic, and sovereign AI customers, and the addressable market is being redefined.
Is the Valuation Actually Expensive?
$NVDA$'s current NTM P/E trades at roughly a 10x discount to its 3-year median of 32x. Its premium vs. peers like $AVGO$, $AMD$, $MRVL$ is near historical lows.
Goldman's take: the market is still valuing NVIDIA as a semiconductor cyclical, not as an AI infrastructure platform. The multiple hasn't caught up to the story.
What to Watch Post-Earnings
- Data Center at $74B+ with strong Q2 guidance
- Rubin platform delivery timeline and customer feedback
- First CPU-only rack order volumes
- Non-hyperscaler demand (sovereign AI, Anthropic, OpenAI)
🎯 How Are You Positioned Into NVIDIA Earnings?
Is market underpricing NVIDIA's long-term earnings, or is Goldman too aggressive?
How often does NVDA's beat-and-raise quarter end in "sell the news"?
NVIDIA entering the CPU market with Agentic AI racks — direct competition with $Advanced Micro Devices(AMD)$ and $Intel(INTC)$ . Is that incremental optionality or a distraction from the core GPU story?
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Comments
What interests me most is the Agentic AI angle and NVIDIA entering the CPU market. I see it as ecosystem expansion rather than a distraction. If AI agents drive massive inference and scheduling workloads, CPUs become strategically important too. That could pressure AMD and Intel while strengthening NVIDIA’s moat with Blackwell and Rubin.
That said, I still expect volatility after earnings because expectations are extremely high. Even strong beat-and-raise quarters can trigger “sell the news” reactions. For me, the key is whether management continues raising long-term AI demand visibility from hyperscalers, sovereign AI, OpenAI, and Anthropic.
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That’s what makes these setups tricky.
The business still looks elite.
AI demand still looks strong.
But when price is making new highs into earnings and targets keep getting pushed higher, the bar becomes “great isn’t enough, it has to be exceptional.”
So for me the question isn’t whether NVDA is a great company.
It’s whether the next report can still surprise a market that already expects near perfection.
Bullish trend.
Tighter margin for disappointment.
Do you think NVDA still rips after earnings, or is too much already priced in here?
NVIDIA has beaten consensus expectations in 30 of its last 31 earnings releases. Despite these persistent operational beats, short-term post-earnings performance is heavily dictated by immediate market positioning.
The introduction of the standalone Vera CPU rack architecture (256 Arm-based liquid-cooled processors) is pure incremental optionality. It does not distract from core GPU processing; instead, it aggressively secures the hardware real estate around it.