NVIDIA’s fiscal Q3 2027 (ending late October 2026) data center revenue faces strong upward pressure from the ongoing Blackwell Ultra ramp and initial Vera Rubin shipments that began in August. The company guided total revenue at $108 billion ±2% while explicitly excluding any China data center compute sales, with data center typically comprising over 90% of the total. Q2 results already showed $89 billion in data center revenue (up 117% YoY), driven by hyperscaler demand plus accelerating contributions from AI clouds, industrial, and enterprise customers. Key swing factors include whether Big Tech capex updates in late October confirm continued spending momentum and how quickly Rubin systems scale to offset any supply constraints. Earnings expected in November will resolve the market.