Nvidia stock slips 1% despite record earnings and raised forecast

Nvidia shares fell over 1% in after-hours trading despite reporting record quarterly revenue and raising its outlook. The chipmaker posted $96.2 billion in revenue for fiscal Q2 2027, up 106% year-over-year, with net income more than doubling to $53.95 billion. Both earnings and revenue beat analyst estimates, driven by continued AI infrastructure demand. Nvidia forecast $108 billion in Q3 revenue, excluding China data center sales, with gross margins easing to 74%. CEO Jensen Huang said AI has reached a tipping point where "compute is revenue," as the Vera Rubin platform enters full production.