Wall Street edges lower after US PCE inflation data; Nvidia revenue rises 106% YoY to $96.2 billion

The Wall Street ended in red on Wednesday after the personal consumption expenditures (PCE) price index data showed that inflation ticked higher in July.

The Dow Jones Industrial Average settled 0.21% lower at 53,463.88, while the NASDAQ Composite slipped 0.08% at 26,130.20. The S&P 500 was little changed at 7,675.70, down 0.02%.

The PCE price index, which details changes in prices of goods and services, increased 0.2% to 3.7%. The core PCE, which excludes energy and food prices, came in at 3.3%, which was in line with expectations.

Meta shares ended 1.07% higher at $576.14 apiece after it settled the social media addiction case with California and other states for $16.7 billion.

NVIDIA Q2 FY27 results

AI chipmaker Nvidia announced its earnings for the second quarter ended July 2026 on Wednesday, post market hours. Its revenue stood at $96.2 billion, up 106% from the year-ago period and 18% from the previous quarter, the company said in a statement.

For the quarter under review, GAAP and non-GAAP gross margins were both 75%. GAAP and non-GAAP earnings per diluted share were $2.46 and $2.22, respectively.

"AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue. And demand is accelerating. This time last year, one lab alone was driving the buildout; today, we have a golden age of new AI labs and startups, multiple frontier labs scaling in parallel, a thriving open-model ecosystem and physical AI coming online — with strong momentum across the U.S. and around the world," said Jensen Huang, founder and CEO of NVIDIA.

"The AI infrastructure buildout is at full steam. Vera Rubin, now in full production, was built to power exactly this moment," he added

NVIDIA declared that it will pay a quarterly cash dividend of $0.25 per share on October 1 to all shareholders as of the record date on September 10, 2026.

For Q3 FY27, the company expects its revenue to be $108.0 billion, plus or minus 2%. GAAP and non-GAAP gross margins are likely to be 74.0%, plus or minus 50 basis points.