NVIDIA Could Take 37% of 2027 HBM Supply, Commitments Hit $279 Billion

NVIDIA's supply commitments rose to $279 billion in the quarter ended July 26, up from $119 billion, mostly for memory procurement. Morgan Stanley estimates NVIDIA has secured about 37.3% of global HBM supply for 2027, with Alphabet at 36% and AMD at 12.1%. Revenue hit a record $96.2 billion, but memory costs are pressuring margins.

• Supply commitments jumped from $119 billion to $279 billion in one quarter
• Morgan Stanley: NVIDIA at 37.3% of 2027 HBM supply, Alphabet 36%, AMD 12.1%
• Record quarterly revenue of $96.2 billion, gross margin down to 75%
• About $267 billion of commitments come due by the end of fiscal 2029