Nvidia's earnings beat expectations.
FY2027 Q2:
Revenue was $96.22 billion, up 106% year over year.
Data center revenue was $89 billion, up 117% year over year.
Adjusted EPS was $2.22, up 120% year over year.
Adjusted gross margin was 75%
Q3 revenue guidance: $108 billion
This $108 billion guidance does not include data center computing revenue data for the China market.
From a fundamentals perspective, global AI capital expenditures have not cooled off, and compute demand remains very strong.
Another earnings report worth watching tonight is $CRWD.
Revenue was $1.47 billion, up 26% year over year.
ARR reached $5.84 billion, up 25% year over year.
Net new ARR of $333 million, up 51% year over year
After the market close, the stock price rose by more than 10% at one point, then the rally narrowed noticeably.
This earnings report doesn’t validate ordinary cybersecurity—it points to a new direction: AI Agent security.
The more Agents, the larger the company’s identity, permissions, endpoint, and data attack surface. AI can improve employee efficiency, and it can also improve hackers’ efficiency.
So AI security isn’t just a pure concept—it’s a cost that companies must pay after deploying Agents.
“Pelosi 13F” family discloses congressional financial and transaction reporting
What’s truly worth looking at is her family’s allocation structure:
Compute power: NADA, $AVGO
Cloud platform: $GOOGL, $AMZN
Security: $PANW, $CRWD
Power: $VST, BE
AI applications: $TEM
And in the latest trades disclosed on August 21, the Pelosi family also bought:
15,000 shares of BE
200 call options expiring June 2027 $BE
10,000 shares of INTC
50 call options expiring June 2027 $INTC
She’s no longer betting on Nvidia alone—she’s betting on the entire AI industrial chain:
Chips → Network → Cloud platform → Security → Power → AI applications
My view on the market going forward is:
The main AI theme hasn’t ended, but it has entered a phase where “performance must speak.”
NADA is still the core asset, but even with such strong earnings it couldn’t hold the gains. It’s not suitable to chase aggressively emotionally in the short term.
If Nvidia continues to trade sideways at high levels, capital may spread toward second-tier AI directions such as $AVGO, $CRWD, $PANW, $VST, BE, etc.
AI security and AI power may be the two most worth researching side themes in the next phase.
AI application stocks like $TEM have higher upside, but also lower certainty—so they’re only suitable for small positions.
Nvidia has confirmed that AI demand hasn’t cooled down. CrowdStrike has confirmed that the AI boom is spreading into security. Meanwhile, the Pelosi family keeps placing its chips on chips and AI power.
Now isn’t the time to leave AI, but it’s also not the time to blindly chase Nvidia. Next, the more important thing is to find the next batch of companies in the AI industrial chain that truly deliver results.
