Nvidia earnings preview: What analysts are expecting and why it’s a major moment for AI stocks and Wall Street

AI chipmaker giant Nvidia Corporation will announce its second-quarter fiscal 2025 earnings after today’s closing bell. It’s an announcement that nearly everyone on Wall Street will be paying attention to as Nvidia has come to be seen as the bellwether for the strength of the artificial intelligence sector.

Nvidia Q2 2025 investor expectations

Here is what investors are expecting for Nvidia Q2 2025 results, according to Yahoo Finance:

• Expected revenue: $28.7 billion Of which is data center revenue: $24 billion Of which is gaming revenue: $2.7 billion Of which is other revenue: $2.0 billion
• Expected adjusted earnings per share (EPS): $0.65

• Of which is data center revenue: $24 billion
• Of which is gaming revenue: $2.7 billion
• Of which is other revenue: $2.0 billion

The data center revenue will be the key figure to watch. Nvidia’s data centers power generative AI platforms like ChatGPT, so any beat there will suggest that demand for Nvidia’s services is strong.

NVDA stock price

In January 2023, shares of Nvidia (ticker: NVDA) were trading below $15. But then the AI boom hit, led by OpenAI’s ChatGPT, and companies the world over clamored for powerful chips that could run complex artificial intelligence tasks.

Nvidia had those chips, and less than 18 months later, NVDA stock was trading at over $130 per share. (Note: these share prices are based on Nvidia’s stock after it split on a 10-to-1 basis in June.) As of the time of this writing, Nvidia now has a market cap of $3.16 trillion, making it one of the most valuable companies in the world.

However, NVDA shares recently took a beating. The stock sank from a high of around $134 in July to below $99 on August 7. Though its share price has recovered to above $128 since then, investors will be hoping its Q2 shows signs that the stock still has a lot of room for growth.

Already in the past 12 months, NVDA shares are up over 178%. And year to date they are up over 158%.

Nvidia’s performance as AI bellwether

What may be most interesting is to see not how Nvidia shares react after the company reports its earnings today, but how the shares in other chip companies, like TSMC, Intel, and AMD, fare after Nvidia’s announcement.

If Nvidia offers strong results (or strong guidance for Q3), it could signal that tech companies are as hungry as ever for chips that can power all their upcoming artificial intelligence tools.

While Nvidia is the leader in AI chips, those other companies have their own offerings, and investors may reason that strong demand for Nvida’s chips could mean there is strong demand for AI hardware from other chipmakers as well.

We’ll have additional coverage of Nvidia’s Q2 earnings after the company reports today (Wednesday, August 28).