{"id":441846,"date":"2026-11-10T19:40:10","date_gmt":"2026-11-10T12:40:10","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/primexbt-insights-nvidia-earnings-preview-key-price-drivers-441846\/"},"modified":"2026-11-10T19:40:10","modified_gmt":"2026-11-10T12:40:10","slug":"primexbt-insights-nvidia-earnings-preview-key-price-drivers","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/primexbt-insights-nvidia-earnings-preview-key-price-drivers-441846\/","title":{"rendered":"PrimeXBT Insights: NVIDIA Earnings Preview & Key Price Drivers"},"content":{"rendered":"
\n

What has been
\n reported<\/p>\n

As reported by the New
\n York Times on 29th October, US authorities suspect a former executive at
\n Megaspeed, a Singapore-based data centre company, of working for China\u2019s
\n Ministry of State Security, and Huang may have been the target of a Chinese
\n espionage effort. According to the Times, Megaspeed bought about $4.8 billion
\n of NVIDIA hardware over two years. According to CBS News, NVIDIA\u2019s board
\n announced on Sunday 8th November that a committee of independent directors,
\n working with outside counsel, will investigate, and Huang has said he will
\n cooperate fully.<\/p>\n

The investigation is
\n ongoing and no findings have been published. China has rejected them as
\n groundless, according to CBS News, and NVIDIA\u2019s board has said it has no reason
\n to believe company secrets or national security were compromised. Huang remains
\n chief executive. The board has said it has confidence in him.<\/p>\n

Shareholders filed a
\n proposed class action on Monday 9th November, according to Reuters. The
\n complaint, filed in federal court in San Jose, California, according to The
\n Week, alleges that NVIDIA and Huang failed to disclose his reported ties to the
\n former Megaspeed executive. These are allegations that have not been tested in
\n court. President Donald Trump has said the FBI is looking into the matter,
\n according to Reuters. No FBI statement has been reported.<\/p>\n

Why it matters for
\n the shares<\/p>\n

The risk investors are
\n weighing is less NVIDIA’s revenue than governance and policy. Bernstein, in a
\n note cited by Bloomberg, said the news is hard to read as anything but negative
\n because it puts the stewardship of the company up for debate. Analysts quoted
\n by Yahoo Finance named three risks: succession, because NVIDIA has no obvious
\n successor to Huang; congressional inquiries; and tougher US export controls on
\n China. Three House Republican committee chairs have asked Huang for a
\n closed-door briefing on 18th November, the day after the results, and he has
\n until 11th November to respond, according to The Next Web. Senator Elizabeth
\n Warren has said Huang and the board owe Congress answers, according to Al
\n Jazeera.<\/p>\n

The direct China
\n exposure is small. NVIDIA’s outlook for the quarter assumes no data centre
\n compute revenue from China, and shipments of its older Hopper chips to China
\n were less than 1% of data centre revenue in the previous quarter. The larger
\n question is policy, because any tightening of export rules would affect what
\n NVIDIA can sell there in future.<\/p>\n

The fall was specific
\n to NVIDIA. On Monday the S&P 500 rose 2.35%, AMD gained 13.3% and Broadcom
\n 8.8%, according to Stock Titan. Joachim Klement of Panmure Liberum told CNBC
\n the impact is so far contained to NVIDIA.<\/p>\n

What the results
\n need to show<\/p>\n

NVIDIA’s quarter ended
\n on 25th October, and results are due at about 21:20 UTC on 17th November, after
\n the US close, with the call at 22:00 UTC. In August NVIDIA guided to revenue of
\n $108 billion, plus or minus 2%, against $104.2 billion expected, after revenue
\n of $96.2 billion, up 106%, in the previous quarter. Data centre revenue was
\n $89.0 billion, up 117%. Analysts surveyed by Barchart expected adjusted
\n earnings of about $2.49 a share as of 28th October, roughly double a year
\n earlier. Four things matter most:<\/p>\n