Nvidia's Q1 2026 Earnings: Focus on GB200 NVL72 Sales
Nvidia reports its first-quarter fiscal year 2026 earnings after market close on Wednesday. While export controls are a concern, some analysts believe the GB200 NVL72 rollout is the key metric to watch.
GB200 NVL72 Sales: A Critical Indicator
Kevin Cook, a senior equity strategist at Zacks Investment Research, highlights the importance of the GB200 NVL72, a single-rack exascale computer. These machines, costing around $3 million each, began shipping in February. Initial delivery estimates were lowered due to market uncertainty earlier this year. Q1 2026 results will offer the first real glimpse into market demand.
Cook suggests that 10,000 units sold would represent a significant achievement, translating to $30 billion in revenue. However, he anticipates a figure closer to 5,000 units. These sales figures will reveal enterprise appetite for cutting-edge AI hardware.
Export Controls: A Short-Term Concern
While export control impacts are expected to cause immediate stock fluctuations, Cook believes the long-term impact will be minimal. He argues that Nvidia's diverse customer base and strong demand mitigate these risks. The company's resilience to previous market disruptions supports this view.
Even with potential export restrictions, Nvidia continues to serve major hyperscalers and sees robust demand for its AI chips. Emerging projects, like Stargate's Middle Eastern initiative, offer further growth opportunities.
Looking Ahead
Cook emphasizes the importance of GB200 NVL72 delivery projections. Strong and consistent deliveries will signal continued growth for Nvidia, regardless of short-term revenue fluctuations. The focus remains on the long-term potential of enterprise AI adoption.
For more information on the GB200 NVL72, visit Nvidia's website.
