Did the gross profit of Nvidia for the quarter ended October 25, 2026 come to at or above 70.0% of its revenue?
Divide the gross profit by the revenue that Nvidia reports for the quarter ended October 25, 2026 in its 10-Q or 10-K filing on SEC EDGAR. The answer is yes if the ratio is at or above 70.0%; no if it is below 70.0%.
If the source is late or silent: If Nvidia has not filed by December 11, 2026, or a filing restates a period the rule reads, the test is inconclusive, and the Result says what was read and what was missing.
If no
Software margins hold or Nvidia's slips below 70%
No if margin slips below 70 percent, which would mark a notable drop from recent quarters' levels.
If yes
Margin migrates to chips and power
Yes if gross margin stays at 70 percent or higher, in line with Nvidia's recent reported margins near 75 percent.
50%
NoYes
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The trail · since Oct 22
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The case · 7 people · 2 minutes
Software margins hold or Nvidia's slips below 70%2 people argue noMargin migrates to chips and power5 people argue yes
As businesses spend more on AI tokens and evaluate suppliers on product execution and cost efficiency rather than raw model power, enterprises shift spending toward the provider with the best cost structure, product-market fit, and credibility.…
Chipmakers and capital equipment providers serving AI infrastructure demands significantly outperform software companies, which face slower enterprise IT budgets, elongated sales cycles, and cautious spending by smaller businesses. Software has…
What would change the Call
Nvidia's 10-Q or 10-K filing on SEC EDGAR showing both gross profit and revenue for the quarter would settle this.
The Call · Thesis 49 · Margin migrates to chips and power
The house leans to "Margin migrates to chips and power".
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The thesis
Will large software firms' gross margins drop a point or more by Q3 2027 while Nvidia's stays at or above 70%?
The idea: AI inference costs are climbing faster than software revenue, squeezing software profitability while chipmakers keep their fat margins, moving profit upstream to silicon.