Nvidia enters Q4 earnings cycle in a unique position, transitioning from AI hardware wave to execution era. Stock price flat despite 37% return in 2025. Investors eye earnings report for Blackwell ramp-up, Vera Rubin progress, and AI software sales. Transition to Blackwell architecture key for upcoming earnings report. CEO Jensen Huang optimistic about Blackwell demand, supply chain logistics crucial for success. Nvidia secures over 50% of TSMC’s advanced packaging output, Blackwell ramp-up on track. Rubin architecture set for late 2026 launch, features HBM4 memory for power efficiency. Analysts expect clean shipment schedule confirmation during Q4 call, key for stock performance. Transition to new chips and liquid-cooled systems could lead to significant margin expansion. Focus on Blackwell shipment slope crucial for stock’s next move, software monetization key factor for P/E multiple. Management optimism about input costs, gross margins, and sovereign AI market potential. Transition to AI software monetization important for de-risking stock from hardware sales cycle. Watch for management to highlight ARR as potential growth driver for NVDA. Stock’s valuation may depend on market’s perception of Blackwell ramp and AI pivot.

Read more at Yahoo Finance: Nvidia stock’s next move hinges on Q4 earnings, Blackwell ramp