NVIDIA will announce its FY2026 Q4 earnings after the market close on February 25th Eastern Time (early morning February 26th Taiwan Time). This report is not only a global AI industry indicator but also directly influences sentiment and pricing from Wall Street to on-chain derivatives markets.
As of the eve of the earnings release, NVDA closed at $192.82. Implied volatility in options markets suggests the stock could move about 6% post-earnings, challenging either $201 or testing $178.
Wall Street Expectations: $66 Billion Revenue, Blackwell Focus
According to LSEG data, analysts expect NVIDIA’s Q4 revenue to reach $66 billion, up about 68% year-over-year, with non-GAAP EPS estimated at $1.53, up roughly 72%. The data center segment is projected to generate approximately $58.7 to $60.1 billion, accounting for over 90%, making it the core driver. NVIDIA’s official guidance is $65 billion in revenue (±2%) with a gross margin of 74.8% (±50 basis points).
The biggest highlight of this earnings report is the ramp-up of the new Blackwell architecture chips. CEO Jensen Huang recently described demand for B200 and GB200 as “off the charts,” confirming capacity is sold out through mid-2026.
UBS estimates Blackwell will contribute about $9 billion this quarter. Looking ahead to Q1 FY2027, analysts expect revenue to further rise to $72–75 billion, indicating the growth engine remains accelerating.
It’s notable that NVIDIA has beaten Wall Street estimates for nine consecutive quarters. However, most analysts believe the real key isn’t whether they can beat consensus again, but whether forward guidance can dispel concerns about “AI spending peaking.”
Forecasts for FY2027 EPS from various brokerages range from $6.28 to $9.68, a difference of over 54%, illustrating the market’s ongoing debate with itself.
On-Chain Long-Short Battle on Hyperliquid
While traditional markets hold their breath, the on-chain derivatives market is also tense. According to Coinbob’s monitoring of popular addresses, the decentralized perpetual contract exchange Hyperliquid shows a clear long-short standoff around NVDA tokenized contracts (Perp):
- 0xRay (0xRay518): Largest NVDA long position, $16.44 million long at an average price of $190
- CBB (Cbb0fe): Largest NVDA short position, $10.5 million short at an average price of $187
- Continue Capital (Continue_VC) related addresses: $9.96 million long, also averaging around $190
More interestingly, these bets extend beyond NVIDIA itself. Besides 0xRay, CBB and Continue Capital addresses holding NVDA positions also have positions in AI supply chain stocks like MU (Micron) and SNDK (SanDisk), each totaling several million dollars.
The Convergence of Traditional Finance and On-Chain Markets
Since Hyperliquid upgraded to HIP-3 last year, enabling tokenized stock perpetual contracts, it has become a key venue for crypto-native traders to participate in traditional stock markets. During NVDA’s initial Perp launch, 24-hour trading volume exceeded $12 million, and now, with the earnings season, this on-chain trading volume is reaching new heights.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Whale address opens 20x leverage BTC and ETH long positions, with position value exceeding $80 million
Gate News reports that, on April 1, according to Lookonchain monitoring, the whale address "0x049b" opened 20x leveraged BTC and ETH long positions 2 hours ago. The address currently holds 587 BTC and 19,007 ETH, with a total position value exceeding $80 million.
GateNews7m ago
Hyperliquid flashes: 43.7 million crude oil long positions, placing a contrarian bet that the Iran war will not stop fighting
When a single address used 20x leverage to establish a WTI and Brent long position totaling $43.7 million in reverse in response to a pullback in oil prices triggered by the ceasefire news, it indicated a view that a ceasefire agreement would be difficult to achieve. As activity in the Hyperliquid platform derivatives market increased, Ripple Prime integrated it, attracting institutional investors and driving growth in HYPE demand.
MarketWhisper14m ago
Magi big brother Huang Licheng BTC and HYPE long positions have been closed, and the ETH long position holds 6,800 units
Gate News message, April 1, Hyperbot data shows that Ma Ji Da Ge Huang Licheng’s Bitcoin long positions have all been fully closed off 1 hour ago, and his HYPE long positions have also all been fully closed off this morning. At present, Huang Licheng holds Ethereum long positions with 25x leverage, with a position size of 6,800 ETH, a position value of $14.337 million, an unrealized profit of $306,000, and a liquidation price of $2,039.
GateNews1h ago
BTC 15-minute modest uptrend of 0.49%: institutional fund flows are driving short-term price anomalies
2026-04-01 03:00 to 2026-04-01 03:15 (UTC), BTC fluctuated in the 67,663.9 to 68,103.8 USDT range. The candlestick return rate recorded +0.49%, with an amplitude of 0.65%. During this period, market attention warmed up, with on-chain activity and trading volume increasing in tandem. Heightened short-term capital inflows and outflows triggered mild price fluctuations, and traders’ sentiment turned more cautious.
The main driving force behind this unusual move was dominated by institutional fund flows, including whales and institutions making large transfers to exchanges and withdrawals within 10 minutes; meanwhile, whales also transferred large amounts to the exchange and moved funds out to other addresses, indicating active capital repositioning during this period.
GateNews2h ago
Giant Whale pension-usdt.eth opened 500 BTC short contracts today, with cumulative profits already reaching $30.46 million
Gate News reports that on April 1, according to Lookonchain monitoring, the giant whale pension-usdt.eth once again acted today, opening a short position of 500 BTC with 3x leverage, with a notional value of approximately $33.9 million. Since February 18, this giant whale has won 20 consecutive trades, accumulating profits of $30.46 million.
GateNews3h ago
Giant Whale pension-usdt.eth opened a 3x leverage BTC short position today, holding 500 BTC.
Gate News message. On April 1, Lookonchain monitoring shows that the whale address pension-usdt.eth today opened a 500 BTC short position with 3x leverage, with a notional value of about $33.9 million. The whale has maintained a streak of 20 consecutive winning trades since February 18, with total profits of $30.46 million.
GateNews3h ago
