Should NVIDIA’s (NVDA) Record Q3 Earnings and New AI Partnerships Reshape Investor Expectations?

• NVIDIA reported third quarter earnings for the period ended October 26, 2025, with revenue rising to US$57.01 billion and net income increasing to US$31.91 billion, while also issuing strong fourth-quarter revenue guidance and revealing a wave of new AI infrastructure partnerships including collaborations with HUMAIN, Microsoft, Anthropic, and Brookfield Asset Management.
• These announcements highlight a period of accelerated investment and adoption of NVIDIA’s AI platforms across cloud, sovereign, municipal, and industrial sectors, underscoring how NVIDIA’s hardware and software ecosystems are becoming central to next-generation computing infrastructure worldwide.
• We'll assess how this combination of robust financial results and expanding AI partnerships strengthens NVIDIA's investment narrative, particularly as global AI infrastructure builds intensify.

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NVIDIA Investment Narrative Recap

To own NVIDIA stock, you need to believe in the company’s ability to maintain leadership in advanced AI infrastructure amid surging global demand and rapid innovation cycles. The latest results, highlighting soaring Q3 revenues, record net income, and another quarter of strong guidance, reinforce AI infrastructure as NVIDIA’s main short-term catalyst. However, these developments do not materially offset the persistent risk posed by US-China regulatory uncertainty, which threatens a significant portion of NVIDIA’s addressable market.

Among several new deals, the expanded partnership with HUMAIN stands out: plans to deploy up to 600,000 advanced NVIDIA AI platforms over three years aim to meet ballooning global demand for sovereign, secure AI infrastructure. Anchored by large-scale data centers in both Saudi Arabia and the US, and coupled with next-gen platform rollouts, such efforts directly support NVIDIA’s growth narrative while highlighting the scale, and supply chain pressures, of the ongoing global AI buildout.

Yet, in contrast, investors should be aware that decisions on US export controls and licensing for NVIDIA’s latest AI chips in China could suddenly reshape revenue expectations for...

Read the full narrative on NVIDIA (it's free!)

NVIDIA's outlook anticipates $337.2 billion in revenue and $187.9 billion in earnings by 2028. This is based on a projected annual revenue growth rate of 26.8% and an increase in earnings of $101.3 billion from the current $86.6 billion.

Uncover how NVIDIA's forecasts yield a $232.79 fair value, a 25% upside to its current price.

Exploring Other Perspectives

Across 425 estimates from the Simply Wall St Community, fair values for NVIDIA range from US$90.15 to US$341.12 per share. While many expect AI-driven expansion to support earnings and revenue growth, unresolved China export risks remain a key factor for future performance.

Explore 425 other fair value estimates on NVIDIA - why the stock might be worth less than half the current price!

Build Your Own NVIDIA Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your NVIDIA research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.
• Our free NVIDIA research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate NVIDIA's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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