Quilter Cheviot’s Barringer says Nvidia call eases investor concerns

Quilter’s head of technology research at Quilter Cheviot, Ben Barringer, said Nvidia’s earnings call eased key investor concerns as management tackled questions on competition and the durability of AI spending.

• Guidance implied about 70% revenue growth despite demand running near 100% growth, constrained by supply.
• Barringer highlighted about $2 trillion of backlog as evidence of sustained demand.
• He flagged gross margin pressure, with Nvidia guiding to 74% from 75% on higher memory prices, with a potential trough near 71% before recovery.
• He said the stock moved from flat to up about 5% following the call as investors focused on the commentary and guidance.