Nvidia has reported a record second quarter for fiscal 2027, with total revenue of $96.22 billion and Data Center revenue of a record $89.0 billion, and guided the current quarter to roughly $108 billion as customers ramp Blackwell Ultra systems.
Blackwell Ultra hits the run rate
Nvidia's Q2 FY27 revenue was up 106% year-over-year and 18% sequentially, according to the company's Aug. 26 release, with Data Center revenue up 117% year-on-year and 18% sequentially. Non-GAAP diluted EPS came in at $2.22, ahead of the LSEG consensus at $2.10, while GAAP diluted EPS more than doubled to $2.46. Nvidia said Blackwell Ultra platforms accounted for the bulk of new Data Center compute, with hyperscalers, sovereign-AI programs and enterprises all buying at scale.
Guidance nudges higher
For Q3 FY27, Nvidia guided revenue of approximately $108 billion ±2%, ahead of consensus estimates around $101 billion, and consistent with continued Blackwell Ultra capacity coming online at TSMC. CEO Jensen Huang said Nvidia is "at the beginning of a new industrial revolution," pointing to multi-year generative-AI capex commitments now stretching well past 2026.
Cloud-financing pause raises eyebrows
Alongside the beat, Nvidia has reportedly paused certain cloud-financing arrangements that had been backstopping smaller AI-factory build-outs, according to reporting cited by TechStartups on Aug. 28. The move — combined with H20 export restrictions to China staying in place — puts a spotlight on how Nvidia sequences shipments across sovereign-AI, hyperscale and neocloud customers over the next two quarters.
The results land in a week thick with AI-industry news, including the OpenAI-Anthropic-Google letter on AI cyberattacks and reports of Nvidia's talks around a fresh Perplexity investment at $30B+.
Reporting based on coverage from Nvidia's Q2 FY27 press release (Aug. 26, 2026), Webull, S&P Global and Yahoo Finance.