Nvidia earnings report expected Wednesday, Marvell follows Thursday

Nvidia releases its Q2 FY2027 earnings on Wednesday, August 26, with Marvell Technology following one day later.

Wall Street expects Nvidia to post earnings per share of $2.07, reflecting continued confidence in a company that reported record revenue of $68.1 billion in Q4 FY2026, a 73% jump from the year prior. Marvell’s consensus EPS sits at $0.87.

Options markets are paying attention

The options market tells its own story ahead of Nvidia’s report. Open interest sits near 15 million contracts, a number that’s actually slightly below the stock’s 52-week average.

The original market intelligence noted that “high-performing wallets” are positioned ahead of earnings, suggesting that sophisticated traders have already placed their bets. Marvell’s options activity, by contrast, reflects a more balanced sentiment, with neither bulls nor bears dominating the flow.

The Marvell-Nvidia connection deepens

On August 3, Marvell announced a collaboration with Nvidia centered on NVLink Fusion Technology, effectively embedding itself deeper into Nvidia’s AI ecosystem. Marvell’s role in that architecture focuses on networking and storage solutions.

What the numbers will actually tell us

Nvidia’s Q4 FY2026 revenue of $68.1 billion set a high bar. That 73% year-over-year growth rate is the kind of number that would be remarkable for a startup, let alone a company with a market capitalization measured in the trillions.

The EPS consensus of $2.07 implies analysts expect Nvidia to keep converting revenue into profit at impressive margins. Nvidia’s data center GPU business, particularly its Blackwell architecture chips, has commanded significant pricing power.

For Marvell, the $0.87 EPS estimate reflects a company in a different growth phase. Marvell has been transitioning from a legacy semiconductor business into an AI-adjacent infrastructure play. The NVLink Fusion partnership gives management a fresh talking point for the earnings call, but investors will want to see that collaboration reflected in actual order books and revenue guidance.

Semiconductor companies sit upstream in the technology supply chain, meaning their results often preview spending trends that show up in cloud provider and enterprise software earnings weeks later.

Investors watching these reports should pay particular attention to forward guidance rather than backward-looking results.

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