Bloomberg Daybreak: US Edition Bloomberg Daybreak Weekend: Nvidia Earnings Preview
Nov 15, 2025
Kunjan Sabani, a Senior semiconductor analyst at Bloomberg Intelligence, dives into NVIDIA's earnings and the impact of AI demand on supply chains. Suzanne Lynch, Brussels Bureau Chief, discusses the EU's competitiveness challenges and its relationship with the U.S. Lastly, Paul Jackson, a Bloomberg reporter, analyzes Japan's expected GDP contraction, inflation trends, and the effects of tariffs on various industries. Together, they unravel the complexities of tech, policy, and economic forecasts shaping the global landscape.
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Episode notes
Blackwell Ramp Could Reset Nvidia Momentum
- Nvidia's Blackwell ramp appears stronger and could restore its pattern of modest beats and raises.
- Street estimates now mostly exclude China, so upside would come from product traction and cloud capex expansion.
Cloud Capex Lift Sets Up Huge GPU Demand
- Hyperscaler and cloud providers raised capex forecasts materially for H2 2025 and 2026, expanding GPU demand.
- Combined with Nvidia's $500 billion pipeline, that sets up significant upside into 2026.
China Headwind Is Priced In, Other Markets Grow
- China restrictions remain a headwind but markets have largely priced that out of Nvidia forecasts.
- Other regions like the Middle East, Japan, and Europe are filling addressable market gaps left by China.