August 27 Morning Read: NVIDIA posts a $96.2B quarter

Snapshot: August 27, 2026, 3:57–4:07 a.m. ET. U.S. equity futures were higher after NVIDIA reported another step-up in AI-infrastructure demand. Nasdaq-100 futures gained 0.87%, S&P 500 futures added 0.40%, and Dow futures rose 0.23%. The overnight board was less uniform outside U.S. technology: Shanghai advanced, Japan eased, Europe was nearly flat, and October WTI crude fell 1.18%.

Macro overnight

Asia did not move as one block. The Shanghai Composite closed up 1.13%, while Japan’s Nikkei 225 slipped 0.20%. The Euro Stoxx 50 was only 0.05% higher in early trade. That mix matters: the stronger U.S. technology contract followed a major company report, while the regional indexes showed no comparable synchronized risk-on signal.

Official Treasury data put the August 26 par yields at 4.19% for two years and 4.66% for ten years. Near 4:00 a.m. ET, the U.S. Dollar Index was little changed around 99.13. December gold traded near $4,655, and the official Cboe VIX close for August 26 was 15.21. October WTI’s fall to $81.26 was the clearest commodity move confirmed across both delayed feeds.

Today’s data calendar

The U.S. Census Bureau schedules the July Advance Economic Indicators Report for 8:30 a.m. ET. It provides early goods-trade and inventory readings that can refine the picture of third-quarter demand. Preliminary July steel-import data follow at 10:00 a.m. ET. These releases are smaller than yesterday’s GDP and household-spending package, but unexpected trade or inventory swings can still affect growth estimates.

Your tickers

NVDA — a $96.2 billion quarter: NVIDIA reported fiscal Q2 FY27 revenue of $96.221 billion, up 18% sequentially and 106% from a year earlier. Data Center revenue reached $89.0 billion, up 117% year over year. GAAP and non-GAAP gross margins were both 75.0%; diluted earnings per share were $2.46 GAAP and $2.22 non-GAAP. Those figures make data-centre execution, supply and customer deployment timing the central read-through for AI infrastructure.

NVDA — the forward bar rises: Management expects fiscal Q3 revenue of $108.0 billion, plus or minus 2%, and GAAP/non-GAAP gross margins of 74.0%, plus or minus 50 basis points. The outlook assumes no Data Center compute revenue from China, an important boundary when comparing guidance with the reported quarter. This is a forward estimate subject to change; product ramps, supply, customer budgets and export rules remain material variables.

AMZN — AWS expands the NVIDIA buildout: AWS and NVIDIA said they plan to deploy two million additional NVIDIA Blackwell Ultra, Rubin and Rubin Ultra GPUs across AWS infrastructure in 2027–2028. The announcement links Amazon’s cloud-capacity roadmap to NVIDIA’s next platforms and also includes work on Vera CPUs, networking and custom high-bandwidth memory. It is a forward deployment plan rather than capacity already installed, so milestones and spending cadence matter.

What to watch today

• 8:30 a.m. ET: separate the goods-trade balance from wholesale and retail inventory details in the Advance Economic Indicators report.
• Treasury response: use 4.19% at two years and 4.66% at ten years as Wednesday’s official completed-session references.
• NVIDIA breadth: compare NVDA with memory, networking, foundry and cloud names rather than assuming every AI-linked stock has the same exposure.
• Guidance quality: track the China exclusion, the Vera Rubin production ramp and whether gross margin follows the 74.0% guide.
• Post-event options: implied volatility can compress quickly after earnings even when the share price moves sharply; premium and direction are separate risks.

The morning setup combines firmer U.S. futures with a mixed global board and softer oil. NVIDIA’s reported quarter and outlook are the clearest new facts for the watchlist, while the AWS plan broadens the read-through to cloud infrastructure. This is educational market information, not personalized financial advice or an instruction to trade.