Wall St futures steady after Nvidia-led gains; Warsh’s Jackson Hole speech looms

Marvell Technology reported Q2 FY27 revenue of $2.74B, exceeding analyst estimates of $2.71B. EPS was $0.94, beating consensus but missing whisper expectations. Data center sales, 79% of revenue, grew 46% YoY. The company forecasts $3.15B in Q3 revenue.

The Trump administration is considering new tariffs on semiconductors, while Nvidia (NVDA) is expanding support for Chinese AI models. SK Hynix is investing in a new U.S. factory. The FDA approved Gilead's (GILD) once-daily HIV pill, Bixlenvo. Markets were mixed, with the S&P 500 and Nasdaq Composite closing higher overnight.

Nvidia projected 70% revenue growth for the next year, exceeding analyst expectations of 44%. The company made this long-term forecast during its Wednesday earnings call. Experts note that such forecasts can guide investors, though they may have slight upward bias. Reliable forecasts are crucial to avoid legal and market repercussions.

Wall Street rallied on August 27, 2026, led by Nvidia's strong Q2 earnings. Nvidia reported $2.22 EPS and $96.22B revenue, forecasting $108B for Q3. The S&P 500 and Nasdaq gained 0.69% and 1.57% respectively. Investors await Fed Chair Powell's speech for policy clarity.

Marvell Technology Inc reported Q2 revenue of $2.7B, up 37% YoY, beating estimates. Data center revenue rose 46% to $2.2B. Adjusted EPS was $0.94, up 40% YoY. Q3 guidance: revenue $3.15B, adjusted EPS $1.10, both above estimates.

Nvidia has paused some AI Compute Partnership deals, a July initiative offering credit support to AI cloud providers in exchange for revenue sharing, according to the Wall Street Journal. Concerns over antitrust scrutiny and control over customers' businesses were reportedly raised internally. The programme has $36 billion in commitments under six-year agreements, with Nvidia collecting 50% of revenue above a base rate. Nvidia states the broader business model remains in place and is evolving.