Nvidia Q2 Results and Outlook

Nvidia reported second‑quarter fiscal 2026 revenue of $96.2 billion, a 106 % year‑over‑year increase. Data‑center revenue surged 117 % to $89 billion. The company issued a third‑quarter revenue outlook of $108 billion, with a guidance range of $105.8 billion to $110.2 billion, comfortably above analyst expectations of roughly $104 billion. Nvidia also projected fiscal‑2028 revenue growth of about 70 %, while warning that memory supply constraints would persist. In regular U.S. trading the stock fell 1.6 %, but rallied over 5 % in after‑hours trading.

Mixed Reaction Across Asian Chip Markets

The divergent outlook led to a mixed performance among Asian semiconductor‑related equities. South Korea’s KOSPI index rose 1.9 %, driven by gains in memory leaders: SK Hynix climbed 3.2 % to 1,742,000 won, and Samsung Electronics advanced 2.2 % to 267,250 won. Memory‑chip makers generally outperformed, reflecting expectations of tighter supply and higher pricing.

Equipment and testing suppliers lagged: Advantest Corp fell about 2.1 %, Disco Corp dropped 1.1 %, and Powertech Technology Co Ltd slipped 1.2 %. TSMC (Taiwan Semiconductor Manufacturing Co Ltd) recorded a modest gain of roughly 0.4 %.

In Japan, memory‑focused firms rose: Kioxia Corp gained 5.2 %, TDK Corp added 1.4 %, Murata Manufacturing Co Ltd rose 3 %, and Largan Precision Co Ltd surged nearly 10 %.

Chinese and Hong Kong Markets

China‑related indices were flat to slightly positive: the Hang Seng Index fell 0.3 %, the CSI 300 edged up 0.1 %, and the Shanghai Composite rose 0.2 %. Among Chinese tech stocks, Baidu Inc rose 4.4 %, SMIC (Semiconductor Manufacturing International Corp) gained 1.7 %, and Tencent Holdings Ltd increased 0.7 %. Conversely, Alibaba Group Holding Ltd slipped 0.6 %, Xiaomi Corp fell 1.3 %, NetEase Inc dropped 1.8 %, and Meituan declined 0.8 %.

Impact of Nvidia’s China Exclusion

Nvidia’s third‑quarter guidance explicitly excluded any data‑center compute revenue from China, underscoring the ongoing effect of export restrictions on its exposure to one of the world’s largest technology markets. This omission contributed to the uneven market reaction, particularly in Chinese‑linked equities.