Nvidia Earnings Report: Wall Street Anticipates Growth Despite Initial Concerns

Nvidia is set to report its fourth-quarter earnings on Wednesday, with investors closely watching for signs of demand for its next-generation Blackwell chip and the impact of China’s DeepSeek AI model on GPU sales. Despite initial concerns raised by DeepSeek’s debut, most analysts expect Nvidia to beat earnings estimates and potentially raise guidance.

Analyst Perspectives

Mizuho: Mizuho anticipates an “in-line” earnings report but notes some “growing pains” in the near term. The firm expects modest ramps in April due to GB200 power/cooling requirements but sees a strong Blackwell ramp in the second half of the year. Mizuho rates Nvidia at “Outperform” with a $175 price target.

Wedbush: Wedbush expects another robust performance from Nvidia, predicting a “$2 billion beat and $2 billion raise” quarter. The firm believes that DeepSeek has not altered spending intentions at major customers like Microsoft and Meta, and expects continued demand for Blackwell GPUs.

Bank of America: Bank of America expects Nvidia to beat analyst estimates and sees data center revenue surging 60% year-over-year. The firm highlights that DeepSeek’s optimizations have not led to reduced sales and points to the upcoming GTC conference in March as the next catalyst for investor focus.

Bloomberg Intelligence: Bloomberg Intelligence expects Nvidia to meet fourth-quarter revenue expectations and raise its first-quarter guidance. The firm notes that initial shipments of Blackwell GPUs have begun and will increase through the first quarter of 2026, supported by increased capital spending from key customers.

Market Outlook

Nvidia’s earnings report will be crucial in determining investor confidence in the company’s ability to maintain strong demand for its next-generation chips despite emerging competition. The market will be looking for updates on Blackwell demand, the impact of DeepSeek, and guidance for the upcoming quarters. With most analysts projecting positive results, the focus will likely shift to the long-term growth potential of AI and data center markets.