NEW YORK, August 2, 2026, 10:08 a.m. EDT — U.S. cash markets have finished trading.
- Nvidia closed at $200.75 on Friday, up 2.9% on the day, though it fell 2.9% over the week.
- According to reported figures, data centers accounted for 92.1% of Nvidia’s most recent quarterly revenue.
- Amazon.com Inc. NASDAQ:AMZN increased its projected capital expenditure for 2026 by 10% to $220 billion.
NVIDIA Corporation ended Friday’s session at $200.75, rising 2.9%. Over the week, however, the stock declined 2.9%.
The importance of that division is underscored by the fact that data centers accounted for 92.1% of the most recent quarterly revenue. Nvidia now serves as an immediate indicator of cloud capital strength.
Amazon delivered reassurances but issued a caution as well. AWS revenue increased by 37% to reach $42.2 billion. The company also raised its projected capital expenditures to $220 billion. Despite this, trailing free cash flow shifted to a $7.6 billion deficit.
| Nvidia income segment | Q1 FY2027 sales | Portion of overall | Annual increase |
|---|---|---|---|
| Data Center | $75.2 billion | 92.1% | 92% |
| Edge Computing | $6.4 billion | 7.8% | 29% |
| Total | $81.6 billion | 100.0% | 85% |
Company-reported data forms the basis for revenue share calculations.
Nvidia dropped 9.0% from Monday’s $208.75 peak to Wednesday’s close, before rebounding 5.7% by the end of Friday. The closing price ended $6.09 lower than the previous Friday.
Amazon CEO Andy Jassy stated, “We have a deep partnership with Nvidia.” Jassy noted that AWS clients are expected to keep seeking Nvidia systems. He added that Amazon’s in-house chip division has now reached an annualized run rate topping $25 billion. Versant Press Room
| Amazon AI investment indicator | Previous value | Most recent value | Difference |
|---|---|---|---|
| AWS revenue per quarter | $30.873 billion | $42.232 billion | 36.8% |
| AWS operating profit per quarter | $10.160 billion | $16.621 billion | 63.6% |
| Trailing free cash flow | $18.184 billion inflow | $7.604 billion outflow | $25.788 billion shift downward |
| Cash and capital expenditure target for 2026 | $200 billion | $220 billion | 10.0% |
Quarterly data is reported by the company and remains unaudited. Variations are computed.
The comparison highlights Nvidia’s latest challenge with investors. While demand is surging, customers are depleting cash reserves and developing alternatives. This dynamic may sustain shipments but could cap further gains in valuation.
“The new dividing line is whether unprecedented spending is producing visible, near-term revenue and margin expansion,” REX Financial managing director Bill Birmingham said. Amazon cleared that hurdle on Friday, sending its shares up 15.3%. Reuters
| Semiconductor security | Friday | Week |
|---|---|---|
| NVIDIA Corporation NASDAQ:NVDA | 2.93% | -2.94% |
| Advanced Micro Devices Inc. NASDAQ:AMD | -1.90% | -8.77% |
| Broadcom Inc. NASDAQ:AVGO | 0.37% | 1.93% |
| Taiwan Semiconductor Manufacturing Co. Ltd. NYSE:TSM | 0.23% | 0.21% |
| PHLX Semiconductor Index (INDEXNASDAQ:SOX) | 0.07% | -4.30% |
Weekly returns reflect the closing prices from July 24 and July 31.
Nvidia surpassed AMD and the chip index in performance last week, while Broadcom proved more resilient. The variance indicates investors did not withdraw from semiconductor stocks across the board.
Nvidia continues to show robust fundamentals. Revenue for the first quarter surged 85% to $81.6 billion. The company projects revenue of $91 billion for the second quarter, with a margin of plus or minus 2%. This forecast excludes any data-center compute sales from China.
Nvidia on Monday revealed it had invested in Safe Superintelligence Inc., without specifying the size of the investment. The collaboration aims to expand SSI’s computing capability by a factor of ten.
| Date and time | Catalyst | Investor relevance |
|---|---|---|
| Monday, August 3, 10 a.m. ET | July ISM manufacturing index | Measures economic pace and affects rate-exposed valuations |
| Tuesday, August 4, after close | AMD second-quarter results | Key indicator for accelerators and data-center consumption |
| Friday, August 7, 8:30 a.m. ET | July U.S. employment report | Potential driver of yields and tech stock valuations |
AMD forecasts second-quarter revenue at $11.2 billion, give or take $300 million. The midpoint would reflect a 46% year-over-year increase. The chipmaker projects a non-GAAP gross margin of 56%.
Nvidia will release its second-quarter earnings on August 26, with the call scheduled for 5 p.m. ET. In the meantime, trading is expected to be driven by customer results.
Risks: Key risks include custom chip development, Chinese regulatory limits, and tightening customer budgets. Any reduction in infrastructure spending could rapidly impact Nvidia’s data center-focused revenue.
Friday’s results reaffirmed that Nvidia continues to benefit from AI demand. However, last week’s decline indicated that expenditures alone are no longer decisive.
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