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Nvidia is set to release its fiscal third-quarter 2026 results on November 19. Nvidia management recently stated that it expects global data center capital expenditure to reach $3 trillion to $4 trillion by 2030, underscoring its long-term confidence in the growth of AI infrastructure.
The company already plays a central role in the artificial intelligence arms race. Large cloud providers continue to build AI data centers around Nvidia’s GPUs and software stack, which makes switching to rival platforms costly and complex. This position gives Nvidia significant visibility into future demand.
Nvidia’s data center business now drives most of its revenue. In the most recent reported quarter, the segment generated tens of billions of dollars in sales, mainly from high-performance AI accelerators used by hyperscalers and enterprises. Strong gross margins, which remain above 70%, indicate that the company continues to hold pricing power in this market.
Management indicates that AI chip orders remain strong as customers prepare for larger and more complex models. New products, including the Blackwell-generation GPUs and related systems, aim to boost performance and energy efficiency. That roadmap supports Nvidia’s view that it can continue to grow as AI workloads expand across various industries, including cloud computing, healthcare, finance, and manufacturing.
Analysts estimate that Nvidia could generate more than $200 billion in annual revenue by fiscal 2026 if current trends continue. Some forecasts suggest that Nvidia may capture a significant share of future AI data center investment, although the $1 trillion revenue scenario by 2030 still appears ambitious. Even if actual numbers fall short of that projection, the addressable market remains huge.
Nvidia’s share price has climbed sharply in 2025 and trades near record levels; yet, many analysts still describe the valuation as reasonable compared to other mega-cap technology stocks. NVDA trades at under 30 times projected earnings for next year, similar to several large peers but with faster expected growth in revenue and profit.
Wall Street consensus anticipates another strong quarter on November 19, with revenue and earnings expected to rise by more than 50% year over year. Many analysts expect Nvidia to beat these targets, as it has done often in prior quarters. They also watch management’s guidance for fiscal 2027 and its view on the pace of AI capital spending.
Competition continues to build. AMD pushes its MI-series accelerators and targets higher data center revenue, while Intel invests in its own foundry capacity and AI chips. Cloud providers also design in-house processors. Despite this, Nvidia still benefits from its established CUDA software ecosystem, broad developer base, and integrated hardware and networking offerings.
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