NVIDIA reported Q2 revenue $96.2 bln, +106% YoY; data center revenue $89.0 bln,
+117% YoY — both very strong. Shares initially fell ~3% after the print,
signaling consensus expectations were already elevated and outperformance alone
wasn’t a fresh catalyst. The market pivoted after CFO Colette Kress said
fiscal‑2028 revenue is expected to rise about 70%, versus prior market
expectations near 44–45%, effectively re‑rating long‑term growth. Crucially,
Kress framed the 70% as an achievable growth rate under supply constraints
rather than a demand limit — management believes customer demand is roughly near
100% growth but current supply/capacity limits mean company guidance is set to
~70%. In short: the issue is capacity, not demand.
