Deep Dive NVDA Sep 9 2026

A note shared by min chi Hsu

NVDA Sep 8 close 225.73 Down 2.0 pct on day Q2 FY2027 revenue 96.2B USD Up 106 pct YoY; beat 92.2B est Data Center 89.0B USD Up 117 pct YoY; 93 pct of total Q3 guide 108B USD Plus/minus 2 pct; GM 74 pct FRAME What this is: fundamentals-first read for a multi-year holder. Fed path and oil tape from the Sep 9 digest are context, not drivers. 1 - Thesis AI compute is becoming revenue-generating infrastructure, in CEO Jensen Huang words from the August call: compute is revenue. Nvidia sells the full factory: Vera CPU plus Rubin GPU, NVLink and InfiniBand networking, racks and systems, plus the CUDA software layer. Each generation extracts more dollars per gigawatt: Hopper about 18B per GW, Blackwell about 25B, Vera Rubin about 40B (per Sep 7 24/7 Wall St synthesis). With FY2028 guided to abou…