Goldman Sachs remains bullish on Nvidia ahead of Q2 earnings on August 26, keeping its Buy rating as AI demand continues to drive rapid growth.
Expectations are already high. Nvidia has guided for roughly $91 billion in Q2 revenue, while Wall Street expects about $91.8 billion and earnings of around $2.06 per share. Last quarter, revenue reached $81.6 billion, up 85% year over year, while Data Center revenue surged 92% to $75.2 billion.
Beyond the headline earnings numbers, investors will be watching two major areas.
- Vera Rubin: Nvidia’s next-generation AI platform is expected to begin shipping in the second half of 2026. Nvidia says Rubin could train AI models using 75% fewer GPUs than Blackwell and reduce the cost of running AI workloads by as much as 90%.
- AI financing: Investors want more details on Nvidia’s new financing platform with Goldman Sachs, BlackRock and other partners, which aims to mobilize more than $500 billion of outside capital for AI computing infrastructure.
The bullish case is straightforward: companies are still spending heavily on AI infrastructure, Nvidia remains at the center of that spending, and Rubin could provide another growth engine as customers look for faster and cheaper computing.
But the expectations also create risk. Nvidia’s enormous growth is no longer a surprise to investors, meaning another strong quarter may not be enough on its own. Guidance, margins, the Rubin rollout and evidence that AI spending remains sustainable could matter just as much as the earnings beat itself.
Investor takeaway: Goldman remains positive on Nvidia, but the bar for earnings is high. The key question on August 26 will be whether Nvidia can show that its extraordinary AI-driven growth still has room to continue.
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