According to a CNBC report, JPMorgan’s Harlan Sur emphasized that cloud giants and hyperscalers have boosted capex forecasts for Q2 2025, an indicator of improving AI fundamentals.
Nvidia Corp. (NVDA) received bullish signals from Wall Street analysts as it heads into its fiscal second-quarter (Q2) earnings expected after Wednesday’s closing bell.
According to a CNBC report, JPMorgan’s Harlan Sur emphasized that cloud giants and hyperscalers have boosted capex forecasts for Q2 2025, an indicator of improving AI fundamentals.
“We believe near-term AI fundamentals are strong, driven by strong hyperscale capex spending. This trend is evident in the upward revision in capex during the Q2 2025 earnings season by the cloud/ hyperscale companies, and the strong results/guidance telegraphed by other AI beneficiaries (e.g., MTSI, ALAB, AMD).”
Nvidia stock traded over 1% higher on Monday afternoon. On Stocktwits, retail sentiment toward the stock remained in ‘bullish’ territory amid ‘normal’ message volume levels.
The stock experienced a 115% surge in user message count in 24 hours. A Stocktwits user sounded bullish on the stock.
According to the CNBC report, Goldman Sachs projected Q2 revenue of between $46 billion and $47 billion, increasing to a range of $53 billion to $54 billion for Q3 as Nvidia ramps up shipments of GB200 and prepares for GB300 launches.
Koyfin data shows 58 analysts rate Nvidia a ‘strong buy’ or ‘buy,’ with only six at ‘hold’ and just one at ‘sell.’ The stock has gained over 35% year-to-date and over 43% in the last 12 months.
The chip giant sees Q2 revenue of $45 billion, plus or minus 2%. As per Fiscal AI data, analysts expect Nvidia’s Q2 revenue to be $45.8 billion and earnings per share (EPS) to hit $1.00.
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