NVIDIA’s explicit guidance of 74% non-GAAP gross margin, plus or minus 50 basis points, for the fiscal third quarter ending in October anchors trader expectations around the 73%–75% bracket. This range aligns with the prior quarter’s 75% result while incorporating anticipated pressure from higher memory costs tied to advanced AI accelerators and Blackwell systems. Strong data center demand, pricing power, and the early Vera Rubin ramp help offset these headwinds, keeping the outcome tightly clustered near management’s midpoint. Earnings scheduled for November 17 will resolve the market, with any deviation likely stemming from product mix shifts or supply-chain timing rather than fundamental changes in the AI GPU business.