Can Nvidia’s $108B Revenue Outlook Lift Its Stock Despite the Jensen Huang Probe?

• Nvidia (NVDA) stock faces a Q3 earnings test, with revenue guidance of $108 billion versus analyst expectations of $108.8 billion in revenue and EPS of $2.47
• Nvidia’s board is investigating whether Jensen Huang was targeted by foreign intelligence, and it says it has no reason to believe company secrets were compromised
• MarketCapOf shows $1,000 invested in Nvidia growing to $1,083.61 in 2026, compared with $2,258.91 for AMD through November 9

Nvidia’s $108 billion revenue outlook gives investors a notable number to weigh against the uncertainty surrounding CEO Jensen Huang. With Nvidia earnings due November 17, attention is turning to whether demand for AI hardware can keep delivering the growth shareholders expect. Jensen Huang’s investigation has complicated that calculation, while selling in perpetual futures shows some traders are wary. But the biggest hurdle for Nvidia stock may lie in what Wall Street already expects.

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Nvidia Q3 Earnings Face a Higher Benchmark

Nvidia forecasts fiscal Q3 revenue of $108 billion, plus or minus 2%, on August 26. That puts its guidance range at $105.84 billion to $110.16 billion.

Analysts are slightly more demanding. A recent market estimate puts revenue consensus at approximately $108.8 billion and EPS at $2.47. Delivering exactly $108 billion would therefore leave sales around $800 million below that consensus.

Margins matter, too. Management expects gross margins of 74%, plus or minus half a percentage point. A revenue beat would offer less reassurance if profitability disappoints or guidance for the following quarter suggests demand is slowing.

Huang Probe Adds Risk as Nvidia Perps Fall

Nvidia’s board announced an independent investigation on November 8 after reporting that Huang had been targeted by a foreign intelligence effort.

In addition, reports revealed that the review followed allegations concerning Huang’s relationship with Alice Huang, a former executive at Singapore-based Nvidia customer Megaspeed. US authorities have scrutinized Megaspeed over suspicions it helped China access restricted AI chips.

In a published message to employees, the Nvidia CEO acknowledged being unfaithful to his wife and pledged to cooperate with the investigation. He did not name the woman.

Independent directors, assisted by outside counsel, will oversee the review. The board expressed confidence in Huang and said it had no reason to believe national security or Nvidia secrets were compromised. Its statement did not announce a conclusion to the inquiry.

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Republican lawmakers have also asked Huang to brief Congress this month, according to reports.

Meanwhile, on Hyperliquid, Nvidia perpetual futures fell 3.8% over 24 hours to $180.50 at press time. This derivatives move is separate from NVDA stock trading on Nasdaq.

AMD’s Lead Raises the Stakes for Nvidia Stock

MarketCapOf’s ROI calculator, using January 1–November 9, 2026, puts a hypothetical $1,000 NVDA stock investment at $1,083.61. The same investment in AMD reaches $2,258.91.

Those figures imply gains of approximately 8.36% and 125.89%, respectively. Nvidia’s strong business growth has not translated into comparable shareholder returns over that period.

Wall Street already expects more than $108 billion in sales. Nvidia will have to give investors something more to get excited about, whether that’s a bigger earnings beat or a stronger forecast for the next quarter.

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