Investors Await Nvidia’s Q2 Earnings as Shares Rise Amid Trade Developments

Menlo Park, CA (August 27, 2025) - Wall Street futures were largely unchanged Wednesday as investors braced for Nvidia’s second-quarter earnings report due after the closing bell, a key barometer for the AI-driven rally that has powered the market this year. U.S. stock-index futures for the S&P 500, Dow Jones Industrial Average and Nasdaq-100 hovered near flat, with modest premarket gains offsetting concerns over elevated technology valuations.

Nvidia (NVDA) shares rose 0.7% in early trading, extending a year-to-date gain of 35% as analysts weighed the impact of recent U.S.-China trade frictions and renewed export curbs on its Chinese operations. The company has already projected an $8 billion hit to second-quarter profits due to April’s China chip-sale ban and subsequent 15% tax on its Chinese revenues, after President Trump lifted and then reimposed restrictions this summer.

Market watchers expect revenue of approximately $46 billion and adjusted earnings per share near $1.01 for the quarter ended July 27, reflecting nearly 50% year-over-year growth despite the headwinds in China. Investors will scrutinize management commentary on export policy developments and the rollout of Nvidia’s new GB300 and forthcoming Blackwell-series chips, as well as any updates on the company’s revenue-sharing agreement with the U.S. government for Chinese sales.

“With Nvidia as the de facto pulse of the AI era, its results will reverberate across the market regardless of whether you own the shares,” said eToro analyst Josh Gilbert, noting that options traders are positioning for a potential $260 billion post-earnings market-cap swing in either direction.

After the bell, Nvidia will host a webcast to discuss its financials and outlook, with investors closely monitoring commentary from CEO Jensen Huang on China-focused chip developments and the broader AI infrastructure demand.