Nvidia Q3 Preview: Strengthening Demand Visibility Amid Accelerating AI Capex

Key Points:

 

  • Nvidia is set to release Q3 FY26 earnings on November 19, 2025, after market close, with the market anticipating strong results. Consensus expects Q3 revenue of $55.1B (+57% y/y) and adjusted EPS of $1.26 (+56% y/y).
  • $500B multi-quarter visibility is reinforcing Nvidia’s dominance with strong bookings for Blackwell/Rubin through 2026.
  • Hyperscaler capex continues to accelerate with cloud spend projected to exceed $600B in 2026, with the Big Four driving 40%+ of Nvidia’s revenue.