在财务表现方面，辉达第二季营收翻倍成长至 962 亿美元，资料中心业务更是贡献了 890 亿美元的亮眼成绩。然而，公司也警告由于记忆体成本飙升，未来几个月的毛利率将面临压力，预计在第四财季触底至 71% 到 72%。为了因应成本上升，辉达已通知客户调涨产品价格，预期 2028 财年的毛利率将回稳至 72% 到 73% 之间。
尽管市场需求持续强劲，辉达仍面临供应链限制与市场竞争的双重挑战。除了记忆体晶片短缺影响交货外，包含 OpenAI 等客户正积极开发自研晶片，对辉达的长期主导地位构成潜在威胁。此外，辉达透过大规模投资协议来确保供应与推动 AI 普及的策略引起了部分市场疑虑，且公司仍需应对中美贸易限制以维持在中国市场的发展。
Nvidia provided a highly bullish sales outlook for fiscal 2028, projecting a revenue growth of approximately 70% that significantly surpasses analysts' estimates of 45%. CEO Jensen Huang emphasized that the AI infrastructure build-out is moving at full steam, highlighted by the full production of the new Vera Rubin chip line. This strong forecast alleviated investor concerns regarding a potential AI economic bubble and drove Nvidia's shares up more than 4% in late trading.
Financially, Nvidia saw its second-quarter revenue more than double to $96.2 billion, heavily driven by its data center division which generated $89 billion. However, the company cautioned that gross margins will narrow in the coming months due to surging memory costs, bottoming out at 71% to 72% in the fiscal fourth quarter. In response, Nvidia is raising its product prices to offset these costs, expecting margins to stabilize between 72% and 73% in fiscal 2028.
Despite robust demand, Nvidia is navigating significant supply chain constraints and intensifying market competition. Ongoing memory chip shortages continue to limit supply, while the development of in-house chips by customers like OpenAI poses a potential long-term threat to Nvidia's dominance. Furthermore, Nvidia's extensive investment deals aimed at securing supply and accelerating AI adoption have sparked some market skepticism, and the company continues to manage complex US-China trade restrictions.