Dan Ives says Nvidia earnings and guidance look world-class
Dan Ives said Nvidia’s second-quarter results and guidance showed strong demand, citing the company’s 2028 growth outlook and saying the print put concerns about circular financing and guidance to rest.
Second-quarter financial results from Nvidia Corporation (NASDAQ: NVDA ) and the company’s guidance indicate strong demand and massive growth that is not declining.
Here’s what one legendary tech investor had to say about the earnings.
Dan Ives on Nvidia’s Q2 Earnings Yorkville Ives managing director Dan Ives is well known for his coverage of the technology industry and analogies about the sector.
Speaking with CNBC after Nvidia’s earnings, Ives highlighted the company’s 2028 guidance of 70% year-over-year growth and offered up an analogy of how perfect the results were. "You could take the press release, print it out and hang it in the Louvre," Ives told CNBC.
The Louvre is an art museum in Paris.
The display of hanging artwork there has become synonymous with the highest-quality, world-class pictures, stories, and sports moments that are so good they deserve to be in a museum.
Ives says that Nvidia CEO Jensen Huang, whom he refers to as the Godfather of AI, understood the concerns about circular financing and guidance and came in with results that put several major negative items to rest. "The biggest thing is demand." Ives says Nvidia showed continued demand acceleration, which bodes well for the entire AI sector. "This puts more fuel in the tech rally." The investor said for the tech sector and some investors, "this was the Super Bowl," referencing the NFL championship for the scale of how important Nvidia’s earnings have become.
This puts more fuel in the tech rally" One concern asked of Ives by CNBC was commentary on supply constraints that may be keeping Nvidia from growing even faster.
Ives estimates that the current demand-to-supply ratio for chips is 12-to-1.
Read Also: Nvidia Q2 Preview: SpaceX Is Becoming the 'Fifth Horseman,' Gene Munster Says Ives on China The second-quarter results included minimal revenue from China, but guidance assumed no data center compute revenue from China. "This is without China, that’s what’s unbelievable," Ives said.
Ives said the reality is the United States and China are in an arms race in AI and there has to be a careful balance when it comes to exports and headlines like increased tariffs on semiconductor products. "For the first time in 30 years, it’s the US that actually has the lead because of Nvidia." Ives used nearly identical phrasing back in January, so it’s a recurring talking point rather than a fresh observation tied to this print.
It’s also worth noting this is framed as a lead-in to advanced AI chips, not tech or manufacturing broadly.
Read Also: Nvidia's Real Story Isn't the Beat — It's What Kress Said About 2028 Image via Shutterstock