Nvidia earnings preview: Q2 FY2027 results imminent, guidance key amid custom chip threats

Nvidia reports Q2 FY2027 earnings with revenue expected ~$92B, Q3 guidance above $103B debated. Options pricing 5% move. Hyperscaler concentration risk highlighted as FCF erosion raises AI capex sustainability questions. OpenAI's Jalapeno chip (Broadcom) outperforms GB300 on power/speed, threatening Nvidia dominance. SpaceXAI deploying Nvidia Vera CPUs for Grok, extending Nvidia's CPU reach.