Nvidia posted fiscal Q2 2027 revenue of $96.2 billion, up 106% year over year, with EPS of $2.22 versus $1.05 a year ago and data center revenue at a record $89.0 billion, up roughly 18% sequentially. Q3 guidance came in at $108 billion plus or minus 2%, and CFO Colette Kress guided fiscal 2028 revenue growth of about 70% — which Jensen Huang framed as supply-constrained, saying "we have supply for 70% growth, our demand is much higher than that." Shares rose roughly 4% to 5% after hours, a restrained move given the size of the beat.
Salesforce reported Q2 revenue of $11.35 billion, up 11% year over year, and booked a $2.6 billion gain on strategic investments driven largely by its stake in Anthropic. Management raised full-year revenue guidance by $200 million, with combined AI annual recurring revenue reaching $3.4 billion, up more than 200% year over year. The stock soared about 14% in extended trading.
CrowdStrike delivered adjusted EPS of 31 cents against 29 cents expected on revenue of $1.47 billion versus $1.44 billion consensus, with revenue up 26% year over year. The company lifted full-year revenue guidance to $5.99 billion to $6.01 billion and adjusted EPS to $1.25 to $1.26, with Q3 revenue guided as high as $1.53 billion. CEO George Kurtz called it "the best quarter in CrowdStrike's history"; shares rose more than 11% after hours.
Kress said memory cost increases have exceeded expectations and signaled gross margin could trough around 71% to 72% before stabilizing in the 72% to 73% range, with shortages potentially persisting through fiscal 2028. Asian memory names took that as a pricing-power signal: Samsung rose 3.3% and SK Hynix jumped 5.5% in Thursday trade. Read-through is squarely positive for Micron's HBM franchise.
Simon Leopold at Raymond James lifted AMD to Strong Buy from Outperform and raised his price target to $641 from $565, implying roughly 40% upside from the prior close. The thesis leans on server CPUs, which the firm models growing at a 44% compound annual rate to about $201 billion by 2030. Shares moved up roughly 4% on the call.
Nvidia disclosed that Hopper shipments to China accounted for less than 1% of data center revenue in the quarter, and management stated there is no China data center compute revenue in the forward outlook. That means the $108 billion Q3 guide carries no China contribution at all. Reports that ByteDance and Tencent each received roughly 10,000 H200 chips in mid-August sit as unmodeled optionality rather than guidance.
Marvell's fiscal Q2 2027 print lands this afternoon, with consensus at roughly $2.71 billion in revenue, about 35% growth from $2.01 billion a year ago, and company guidance of $2.70 billion plus or minus 5% on non-GAAP EPS of $0.93 plus or minus 5 cents. CEO Matt Murphy has already flagged "exceptional AI-related bookings" and pointed to $3 billion in quarterly revenue by Q3, a full quarter ahead of prior plan. The design-win pipeline sits above 50 opportunities against a $10 billion custom silicon run-rate target by fiscal 2029.
Micron added about 2.5% to roughly $932.97 heading into the Nvidia print, extending a year-to-date gain near 196% as HBM3e pricing holds above year-ago levels. Management has signaled that meaningful new production capacity doesn't arrive until mid-2027, implying the memory shortage persists past next year. Nvidia's commentary on rising memory costs reinforces that setup.
Wednesday's cash session was quiet ahead of the prints, with the S&P 500 up 0.3% to 7,677.24 and the Nasdaq up 0.7% to 26,151.30, even as heavyweight chip names sagged into the Nvidia release. Overnight, Nasdaq 100 futures rose roughly 1% after Nvidia's outlook eased concerns that the AI spending boom is decelerating. The setup puts semis and AI software on the front foot at the open.
Anthropic remains the most valuable private AI lab following its $65 billion Series H at a $965 billion valuation, ahead of OpenAI's $852 billion mark, with both companies having filed IPO prospectuses in June and targeting fall listings. As of August 20, Anthropic's IPO pricing median had been pulled in to October 26, 2026. Neither is publicly traded yet — but Salesforce's $2.6 billion mark-to-market gain shows the valuation is already flowing through public company P&Ls.
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