All Eyes on Nvidia Ahead of Earnings
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This is Bloomberg Tech coming up all eyes on NVIDIA earnings after the closing bell. Investors expecting to learn more about where those billions of dollars on AI spending are actually going.
Plus, NVIDIA CEO Jensen Huang and Tesla CEO Elon Musk are speaking right now at the U.S.-Saudi Investment Forum. We'll bring you the latest.
And Brookfield Asset Management targets $10 billion of fund commitments for a global AI infrastructure program in partnership with, you guessed it, NVIDIA.
And NVIDIA dictates trade. Right now, we are seeing signs of stability in the NASDAQ 100 more broadly. then almost $2 trillion has been wiped off of this benchmark since the end of October, in large part because Nvidia's been down, but all the key MAG7 names have been under pressure. But today, some reprieve. Nvidia, in the points perspective, helping with the NASDAQ 100. Crypto, though, still in the eye of the storm, or up by 2.8%, that anxiety driving it below $90,000. So, still some risk aversion, Ed.
Okay, NVIDIA is up more than 2.5%, but off its session high. It is a stock that's up almost 40% year to date, outperforming double the performance of what we've seen of the NASDAQ 100 and S&P 500. The expectation is revenue growth above 50%, net income growth above 50%, but all that matters is what CEO Jensen Wong tells us about the future. Let's get with it. Bloomberg's Ian King, who leads our semiconductor coverage. I mean, that's what it comes down to. Either they will beat consensus or they won't. But expectations are really high for this quarter, as is the skepticism of what's happening bigger picture with data center infrastructure. Give us the things we need to look out for and what's in your preview of this company's earnings.
Yeah, I mean, the numbers speak for themselves, right? We're looking for a prediction in the $60 billion range for revenue. And just to give that context, that's 10x where we were three years ago, 10x. On profit for this year, we're going to be looking at $100 billion of net income. That's more than Intel and AMD get in revenue combined. So the numbers have come off the charts. The key here is... We all know the numbers are going to be good. We know the forecast is going to be good. But the key is, well, do we really believe the basis for those numbers? And that's going to be the key question he's going to face.
So, Ian, what can his response be that's more than what he already signalled in GTC, that he has line of sight on half a trillion dollars' worth of orders, not just for Blackwell but Rubin, into 2026? How much more can he signal that they will remain integral to inference as well as training?
No, you're absolutely right. He's essentially played all his cards in that respect. What's going to happen will be that the investment community are getting their first chance to sort of pull that apart, to ask him about the details, to ask him about the new products, to ask about the margins, to ask about when exactly these sales will kick in.
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