NVIDIA and Salesforce Earnings Preview 2026
Key Takeaways
- NVIDIA reports Q4 FY2026 on 25 February, with Wall Street expecting around $65 billion in revenue — a jump from $57 billion last quarter.
- Salesforce and Snowflake also report on 25 February, making it possibly the busiest single earnings day of the year for tech investors.
- Dell Technologies reports on 26 February, with its AI server business expected to be the star of the show.
- AI monetisation trends are now front and centre — every company this week has a major AI story to tell.
- This week's earnings could set the tone for the entire tech sector well into the second half of 2026.
Introduction: The Most Important Week in Tech This Year
Right then. If you follow the stock market even slightly, you already know that this week is not just another earnings week. The period between 23 and 27 February 2026 is shaping up to be one of the most closely watched stretches of results season in recent memory — and for very good reason.
Think about it. In the space of just a few days, four of the most talked-about companies in the world of artificial intelligence are all stepping up to reveal their numbers. NVIDIA, the chipmaker that has become the face of the AI revolution, reports on Wednesday evening. So does Salesforce, the cloud software giant, now placing all its bets on AI agents. Snowflake, the data analytics firm that has been repositioning itself as an AI-first platform, also steps up on Wednesday. The next Dell Technologies follows on Thursday with results that will either confirm or challenge the idea that the AI server boom is still very much alive.
For everyday investors, this is like four FA Cup finals happening on the same weekend. The results will ripple through portfolios, pension funds, and market sentiment for weeks.
So let us take a proper look at what to expect, why it matters, and what you should be paying attention to during the Stock Market Earnings This Week.
NVIDIA Q4 Earnings 2026: The Biggest Number in Tech
What Wall Street Expects
NVIDIA reports its Q4 fiscal 2026 results on 25 February, with analysts expecting revenue of around $65 billion. To put that in perspective, last quarter the company posted $57.01 billion in revenue, beating estimates by more than $2 billion, with earnings per share of $1,30, topping the consensus of $1.26.
The Zacks Consensus Estimate projects earnings per share of $1.52 for this quarter, marking a 70.9% year-over-year increase. That is a staggering number, and it shows just how far and fast NVIDIA has come.
The Blackwell Supercycle
The real story here is not just about revenue — it is about the Blackwell chip architecture and what it means for the next 12 to 18 months. NVIDIA has roughly $350 billion in Blackwell and Rubin pipeline through 2026, with the GB300 chip now representing about two-thirds of total Blackwell revenue.
Hyperscaler capital expenditure expectations have grown to $600 billion for 2026 — up $200 billion from the start of the year. That money has to go somewhere, and a very large chunk of it will flow through NVIDIA's order books.
NVIDIA's share price rallied an impressive 143% from its April 2025 low before sliding into a correction that has persisted for three months. Wednesday's results could very well be the catalyst that ends that correction — or extends it.
What to Watch
The guidance for Q1 FY2027 may actually matter more than the Q4 numbers themselves. Wall Street expects NVIDIA to guide to $70.96 billion in revenue for Q1, and a beat above $75 billion could genuinely surprise the market.
NVIDIA anticipates data centre spending worldwide to reach between $3 trillion and $4 trillion annually by 2,0, which gives the company an enormous long-term runway even if short-term sentiment wobbles.
Salesforce Earnings Forecast: Can the AI Agent Story Deliver?
The Numbers to Watch
Salesforce last reported earnings on 3 December 2025 for Q3 FY2026, posting EPS of $3.25 — beating the estimate of $2.58 by nearly 26%. Analysts are now projecting EPS of $2.69 for Q4.
Salesforce will release its Q4 and full-year FY2026 results on 25 February 2026, after the market closes.
The AI Agent Opportunity
Salesforce has spent much of the past year talking up its "Agentforce" platform — a suite of AI agents designed to automate tasks across sales, service, and marketing. The core question for investors is simple: are businesses actually paying for this, or is it still just a talking point?
Analysts suggest Salesforce stock could reach $249 by January 2028 from around $190 today, supported by 10% revenue growth, 36% operating margins, and continued double-digit expansion across enterprise AI deployments.
If Salesforce can show that Agentforce is driving meaningful revenue growth — not just generating impressive demo videos — this could be the quarter that re-rates the stock meaningfully higher.
Snowflake Q4 Results: The Data Platform Goes AI-First
Revenue and Profitability
Consensus estimates project Q4 revenue for Snowflake at between $1.25 billion and $1.26 billion, representing growth of around 26.9% year-on-year. EPS is expecteto be d at $0.26 to $0.27.
Last quarter, Snowflake reported EPS of $0.35, topping the consensus of $0.31 by $0.04, with revenue of $1.21 billion coming in above the expected $1.18 billion.
The AI Pivot
Snowflake struck a $200 million partnership deal with OpenAI and has been pushing the adoption of its Cortex AI platform. The key metric to watch is how many customers are actually using these AI features in production — not just signing up for trials.
Snowflake's stock has been trading around $176 as of mid-February 2026, down from highs near $265 in December 2025. There is clearly room for recovery if the numbers are strong.
Dell AI Server Growth: The Hardware Side of the Story
Earnings Date and Expectations
Dell Technologies is scheduled to release its Q4 FY2026 and full-year results on 26 February 2026.
Dell sits in a fascinating position right now. While NVIDIA makes the chips, Dell builds the servers that house them — and demand for those AI-optimised servers has been extraordinary.
Mini Case Study — Dell's AI Server Business: In its fiscal Q4 2025 results (reported in early 2025), Dell delivered an AI server backlog of $4.1 billion, having shipped $2.1 billion of AI servers in that quarter alone. The AI server backlog was expected to more than double in FY2026, driven by the Blackwell chip ramp. If that doubling materialised, Dell's Infrastructure Solutions Group (ISG) could be reporting some eye-catching numbers this week.
The ISG division is the one to watch. Strong AI server order books and healthy margins in that segment would signal that the enterprise hardware cycle is very much alive — which matters not just for Dell, but for the broader tech investment thesis.
AI Monetisation Trends 2026: The Bigger Picture
This earnings week does not exist in a vacuum. It is part of a much larger story about whether the enormous sums being invested in AI infrastructure are actually translating into real business value.
The International Monetary Fund (IMF) has flagged in its 2025 and 2026 outlooks that AI adoption could add meaningful percentage points to GDP growth in advanced economies over the next decade — but only if the technology moves from experimentation to genuine productivity gains. The Federal Reserve has similarly noted that technology investment cycles of this magnitude historically take two to four years before they show up clearly in productivity data.
What this week's earnings will begin to tell us is whether that transition is on schedule. Companies like Salesforce and Snowflake are on the front lines of monetising AI for enterprises. NVIDIA and Dell are enabling the infrastructure. If the revenue growth is there — and the margins are holding — it suggests AI monetisation is real, not just hype.
Agentic AI adoption is accelerating, with companies pioneering applications that reason, plan, and use tools autonomously — giving rise to entirely new categories of software. That is not a small thing. It could represent the next major wave of software revenue, and every company reporting this week has a stake in it.
Best Stocks to Watch February 2026: A Quick Summary
Here is a simple breakdown of the companies and dates for this week's earnings calendar:
Wednesday, 25 February (After Market Close)
- NVIDIA (NVDA) — Q4 FY2026 | Revenue expected: ~$65 billion
- Salesforce (CRM) — Q4 FY2026 | EPS expected: ~$2.69
- Snowflake (SNOW) — Q4 FY2026 | Revenue expected: ~$1.25 billion
Thursday, 26 February (After Market Close)
- Dell Technologies (DELL) — Q4 FY2026 | Focus: AI server revenue and ISG margins
Each of these carries its own narrative, but they are all connected by one thread: artificial intelligence and whether it is generating real, durable revenue growth.
Tech Earnings Preview: What Could Go Wrong?
It would not be responsible to only present the bull case. There are genuine risks here.
For NVIDIA, the absence of sales to China remains a headwind. China data centre revenue remains at zero due to ongoing export restrictions — and any guidance that suggests this situation will not improve could disappoint investors who were hoping for a resolution.
For Salesforce and Snowflake, the risk is that AI features are not yet driving significant revenue uplift, and that growth guidance disappoints compared to the elevated expectations that have built up in the market.
For Dell, the risk is margin pressure. AI servers are complex and expensive to build, and any sign that margins in the ISG segment are being squeezed could send the stock lower even on strong revenue figures.
Frequently Asked Questions (FAQs)
When does NVIDIA report Q4 2026 earnings? Mark the date: NVIDIA reports earnings after the closing bell on Wednesday, 25 February 2026.
What revenue figure do analysts forecast for NVIDIA’s Q4 FY2026 results? Wall Street consensus is centred around $65 billion in revenue, with EPS expected at approximately $1.52.
Why are investors paying close attention to Salesforce’s earnings this week? Salesforce will give investors the first major data point on whether its AI agent platform (Agentforce) is generating meaningful commercial traction. The enterprise deployment of agentic AI represents one of the most significant investment trends of 2026.
What should I look for in Snowflake's results? Watch for Cortex AI adoption figures, net revenue retention rate (which has historically been above 125%), and any commentary on the OpenAI partnership translating into bookings growth.
Is Dell Technologies a good AI play? Dell is one of the primary beneficiaries of the AI server boom. Its Infrastructure Solutions Group has seen significant demand from hyperscalers and enterprises building out AI data centres. The Q4 results should give a clearer picture of how sustainable that demand is.
What is theWall Street' Earnings Thread consensus for this week? Across analyst communities and financial forums, the broad sentiment is cautiously optimistic — high expectations are already baked into valuations, meaning companies need to not only meet but beat and raise guidance to see meaningful stock appreciation.
How does AI monetisation affect stock prices in 2026? AI monetisation — the ability to convert AI investment into actual revenue — is the defining investment question of 2026. Companies that demonstrate clear, growing, profitable AI revenue streams are likely to be rewarded with premium valuations. Those who cannot sseethis risk sewill seeheir stocks de-rated.
Final Thoughts: The Week That May Shape 2026 for Tech Investors
This isn’t just another earnings week — it’s a major moment for tech investors. NVIDIA’s Q4 results and outlook could drive the entire AI infrastructure narrative. Salesforce and Snowflake will show whether enterprise AI is truly turning into revenue. And Dell will reveal whether the hardware backbone of the AI boom is still holding strong.
Regardless of the immediate numbers, the significance extends beyond company performance. The results will inform whether the AI expansion represents a durable structural trend or is moving toward a period of consolidation.
Remain attentive to the after-hours releases on Wednesday and Thursday, and keep in mind that next quarter’s guidance can carry more weight than the reported results.
Want to stay ahead of earnings season? Keep your financial dashboards ready, set alerts for NVDA, CRM, SNOW, and DELL, and monitor the S&P 500’s response — because this week’s results will ripple far beyond a handful of individual stocks. Tech earnings do not just move individual stocks. They move markets.
Authoritative External Sources:
- Investor.NVIDIA.com — Official Q4 FY2026 Earnings Announcement
- IMF World Economic Outlook — AI and Productivity
Suggested Internal Links:
-
Earnings Reports Explained: A Beginner’s Guide
-
Agentic AI Explained — Why It Matters for Investors
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