NVDA · Deep research

NVIDIA Corporation (NVDA) | FY2027-Q2 Deep Research Report

NVIDIA Corporation reported FY2027-Q2 revenue of $96.22B (+105.9% YoY) and GAAP gross margin of 75.0%. Forensic accounting penetration reveals growing vulnerabilities: surging High-Bandwidth Memory (HBM) costs prompted guidance for gross margins to trough at 71.0%–72.0% in Q4, DSO lengthened by 15 days to ~60 days as customer cash flows strain, and long-term multi-cycle purchase commitments expanded to $279.0B alongside $108.5B in off-balance-sheet guarantees. At a $5.53T valuation, the risk/reward profile skews decisively asymmetric.

Fiscal year

FY2027

Period

Q2

Period end

2026-07-26

Calendar year

2026