Options traders brace for a big move as markets re‑price Nvidia after its blowout quarter

Nvidia reported record fiscal first-quarter revenue of $81.6 billion on May 20, but the stock’s muted reaction has pushed investors to a different question: how much more growth the company can physically deliver. Options traders are still bracing for a sizable move in Nvidia shares next week, according to Investopedia, even after the company beat Wall Street expectations and guided higher. The company said first-quarter data center revenue rose 92% from a year earlier to $75.2 billion, extending the run that has made Nvidia the central stock in the AI trade. But recent coverage from Investopedia and Benzinga showed the focus shifting from demand to supply — including chip availability, electricity, and cooling capacity needed to deploy AI systems at scale. (investor.nvidia.com) ### Why didn’t a blowout quarter settle the debate? Investopedia reported on May 22 that Nvidia shares failed to join Friday’s broader market rally despite the earnings beat, and said options markets were still implying a significant move in the week ahead. That setup suggests traders see the post-earnings repricing as unfinished rather than resolved. (investor.nvidia.com) Nvidia said on May 20 that second-quarter revenue is expected to reach $88 billion, plus or minus 2%, and announced an additional $80 billion share repurchase authorization. The company also raised its quarterly cash dividend to $0.25 per share from $0.01. ### What are investors worried could cap growth? (investopedia.com) Benzinga reported after the results that an AI-chip supply crunch still looms even as Nvidia continues to post outsized growth. The concern is not limited to GPUs. Nvidia’s own product materials for Vera Rubin say the systems are designed to deliver more performance within existing energy footprints, a sign that power efficiency has become part of the sales pitch as customers build larger AI clusters. (investor.nvidia.com) Nvidia said in March that the Vera Rubin platform included Vera CPU racks and Rubin GPU systems, with seven new chips in full production for AI factories. On Nvidia’s product page, the Vera Rubin NVL72 system is described as combining 72 Rubin GPUs with 36 Vera CPUs. ### Why are analysts suddenly talking about Nvidia as a CPU company too? (msn.com) Tom’s Hardware reported that an analyst said Nvidia could capture about two-thirds of the x86 server CPU market, citing expected revenue of roughly $20 billion and projected Vera CPU shipments of 4 million units in fiscal 2027. That estimate, if realized, would extend Nvidia’s reach beyond accelerators into a market long dominated by Intel and Advanced Micro Devices. (investor.nvidia.com) Nvidia has already been positioning Vera as part of a full rack-scale system rather than a standalone processor story. The company’s March announcement and current product pages describe Vera CPUs alongside GPUs, networking and storage components inside a broader AI infrastructure stack. ### What does the options market say about the next step? (news.google.com) Investopedia reported before earnings that traders were expecting a large post-results move in Nvidia shares, and followed that with a May 22 report saying options traders still saw another big swing next week. Nvidia’s investor relations site showed the stock at $215.33 on a delayed basis when accessed on May 23. (investor.nvidia.com) The company’s next scheduled corporate event is its annual meeting on June 24, 2026, at 9 a.m. Pacific time, according to Nvidia’s investor relations page. Investors will also continue to track whether the company’s May 20 revenue guidance, product rollout schedule and infrastructure claims hold as customers scale Blackwell and Vera Rubin systems. (investor.nvidia.com) (investopedia.com)