NVIDIA reported second-quarter fiscal 2027 revenue of $96.2 billion, up 106% from a year ago, as demand for its AI data center infrastructure continues to accelerate. The company also guided third-quarter revenue to $108 billion, signaling that the AI buildout shows no signs of slowing.
Data Center revenue reached $89.0 billion in the quarter ended July 26, 2026, up 117% year over year and 18% sequentially. GAAP earnings per diluted share came in at $2.46, while non-GAAP EPS was $2.22. The company returned approximately $26.0 billion to shareholders through buybacks and dividends during the quarter.
Vera Rubin ramps as demand broadens
CEO Jensen Huang said the company's Vera Rubin platform is now in full production, with racks running at partners including CoreWeave, Google Cloud, Microsoft Azure, Oracle Cloud Infrastructure and Nebius. He framed the current moment as a shift in how AI generates value.
"AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue," Huang said. "Demand is accelerating. This time last year, one lab alone was driving the buildout; today, we have a golden age of new AI labs and startups, multiple frontier labs scaling in parallel, a thriving open-model ecosystem and physical AI coming online."
The company also announced partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to create independent compute financing platforms, with the goal of mobilizing over $500 billion of third-party capital for AI infrastructure. Finance professionals tracking capital flows into AI should note that these structures could reshape how large-scale compute projects are funded.
Guidance and margins
For the third quarter of fiscal 2027, NVIDIA expects revenue of $108.0 billion, plus or minus 2%. GAAP and non-GAAP gross margins are both expected to be 74.0%, down slightly from the 75.0% reported this quarter. The company said its outlook does not assume any Data Center compute revenue from China.
Operating expenses are expected to be approximately $9.2 billion on a GAAP basis and $9.0 billion on a non-GAAP basis. NVIDIA expects full-year fiscal 2027 tax rates between 16.0% and 18.0%, excluding discrete items.
Edge computing and physical AI
Edge Computing revenue was $7.2 billion, up 27% year over year. The segment includes the company's push into Windows PCs with the NVIDIA RTX Spark superchip, developed with Microsoft, as well as robotics and autonomous vehicle platforms. NVIDIA launched Cosmos 3, which it describes as the first fully open frontier omnimodel for physical AI, and introduced the Isaac GR00T Reference Humanoid Robot.
The company also reported a record 35 new AI supercomputers in development across Europe and launched a national AI infrastructure initiative with the Japanese government.
Why this matters for finance professionals
NVIDIA's results offer a clear signal for investors and financial analysts: AI infrastructure spending is broadening beyond a small group of hyperscalers. The company's $500 billion financing partnerships with major investment firms suggest that institutional capital is now a structural part of the AI buildout, not just a corporate capex story. For those tracking AI for Finance trends, the quarter also underscores how quickly demand is moving into areas like physical AI and sovereign infrastructure, which could open new revenue streams beyond traditional data center sales. CFOs and finance leaders evaluating AI investments may want to study NVIDIA's margin trajectory and China guidance as indicators of where pricing power and geopolitical risk sit in this market. The AI Learning Path for CFOs covers how to assess these kinds of capital-intensive technology bets.
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