Nvidia’s $108 Billion Test After Jensen Huang’s Exit

By Sophie Lindqvist

Nvidia has told investors to expect $108.0 billion in third-quarter revenue, with results due November 17, 2026, at about 4:20 PM ET. According to 24/7 Wall St., it will be Nvidia’s first quarterly report without co-founder Jensen Huang as CEO. The market exposure is large: the company was worth about $3.97 trillion, or roughly 6% of the S&P 500, at Thursday’s price.

Most index-fund investors will feel the stock’s reaction even if they do not own Nvidia directly, 24/7 Wall St. said. The next report therefore carries market consequences beyond one company’s quarterly results.

What changes without Huang at the top?

24/7 Wall St. reported that Huang resigned on Thursday morning, effective immediately. Nvidia has not had a quarterly report without him as chief executive since he co-founded the company in 1993.

Nvidia’s filing said the schedule has not changed. The company will release third-quarter results on November 17 “as previously scheduled,” followed by a conference call at 5 PM ET after the 4:20 PM ET results.

Chief financial officer Colette Kress is now interim CEO while retaining her CFO job. 24/7 Wall St. said she has walked investors through Nvidia’s numbers for 13 years and joined in 2013, when the company made $4 billion a year. The company she now leads made $216 billion, according to the outlet.

Nvidia has not said who will speak on Tuesday’s call. Investors will get the first forward guidance set without Huang, while the board searches for a permanent CEO.

The schedule is unchanged, but the CEO situation is not.

Why does the $108 billion target matter?

Nvidia set the target in August at $108.0 billion, plus or minus 2%. That range runs from $105.84 billion to $110.16 billion and would put revenue about 12% above the $96.2 billion reported for the second quarter.

The second-quarter figure included $89.0 billion of data center revenue alone. That segment accounted for most of Nvidia’s reported quarterly revenue, so the $108 billion target depends heavily on the same business.

Nvidia also guided to a 74.0% gross margin, plus or minus half a percentage point. Its filing said it was “not assuming any Data Center compute revenue from China in its outlook.”

MarketBeat’s consensus, as of Tuesday, called for $108.80 billion of revenue and $2.47 per share in earnings, according to 24/7 Wall St. The consensus sat above the $108.0 billion midpoint but remained within Nvidia’s range. A result inside company guidance could still fall short of the analyst forecast.

The $108 billion figure is only the first checkpoint.

Why are investors bracing for a bigger stock move?

According to 24/7 Wall St., Nvidia opened Thursday at $151