Management remarks
Call period: 2027 Q2 · 2026-08-26
Guidance: Colette Kress: We expect margins to bottom in Q4 in the 71% to 72% range before settling at 72% to 73% in fiscal year '28, as executed price increases take effect in Q1.Demand and orders: Colette Kress: With cloud industry backlog now greater than $2 trillion, CapEx by the top 5 hyperscalers is expected to reach nearly $800 billion in 2026 and $1.3 trillion in 2027.Margins: Colette Kress: GAAP and non-GAAP gross margins were both 75%, largely unchanged from last quarter due to a similar product mix.Analyst Q&A
Analyst Jen-Hsun Huang asked: Is our goal to put more compute into 1 gigawatt or less? Management Toshiya Hari answered: Before we close, please note that Jensen will be participating in a keynote fireside chat at the Goldman Sachs Communacopia & Technology Conference in San Francisco on September 10. He'll also be giving a keynote at GTC Berlin on October 21. Our earnings call to discuss the results of our third quarter of fiscal 2027 is scheduled for November 17.管理层陈述
电话会期间：2027 Q2 · 2026-08-26
指引：科莱特·克雷斯表示，我们预计利润率将在第四季度触底，区间为71%至72%，随后在2028财年稳定在72%至73%，因为提价将在第一季度生效。需求与订单：科莱特·克雷斯表示，目前云行业积压订单已超过2万亿美元，前五名超大规模云服务提供商的资本支出预计在2026年达到近8000亿美元，2027年达到1.3万亿美元。利润率：科莱特·克雷斯表示，GAAP和非GAAP毛利率均为75%，由于产品组合相似，较上一季度基本未变。分析师问答
分析师黄仁勋提问：我们的目标是将更多计算能力投入1吉瓦或更低功率吗？管理层Toshiya Hari回答：在本次电话会议结束前，请注意黄仁勋将参加9月10日于旧金山举办的高盛科技与通信大会主题炉边谈话，还将在10月21日的柏林GTC大会发表主题演讲，我们讨论2027财年第三季度业绩的收益电话会议定于11月17日举行。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
