Recapping Nvidia earnings and call. In brief:Nvidia shares slipped after-hours as uncertainty over China sales overshadowed a forecast that still topped Wall Street expectations. The company left Chinese revenue out of its Q3 guidance, citing regulatory risk, while data center sales showed hints of slower cloud spending.More:Nvidia shares fell 3.2% in after-hours trading Wednesday after the company delivered a more cautious outlook, weighed down by uncertainty over its China business. CEO Jensen Huang said he expects U.S. approval to resume chip sales to China following a deal with President Trump, but no formal rules are yet in place, and questions remain over whether Beijing will allow purchases. As a result, Nvidia excluded China sales from its third-quarter forecast. Analysts suggested this cautious stance, alongside signs of slower cloud spending, left investors underwhelmed despite guidance still above consensus.Nvidia projected Q3 revenue of $54 billion (±2%), slightly above Wall Street’s $53.1 billion estimate, but its Q2 data center sales — at $41 billion — fell just short of forecasts. The company said any licensed shipments of its H20 chips to China were excluded from guidance, but potential sales could add $2–5 billion if geopolitical conditions improve.Despite the softer tone, Nvidia continues to benefit from soaring demand for AI processors, with CFO Colette Kress highlighting “sovereign AI” initiatives expected to generate $20 billion this year, and forecasting AI-related infrastructure investment of up to $4 trillion by decade’s end. Roughly half of Nvidia’s data center revenue came from large cloud providers in Q2, though analysts warned hyperscaler spending could tighten if AI returns remain hard to quantify.---Earlier posts:Nvidia (NVDA) earnings report: EPS $1.05 vs. expected of $1.01Nvidia (NVDA) threatens litigation if US government seeks to take a percentage of revenueNVDA Huang:China market, I've estimated, to be about $50bn opportunity for us this year" This article was written by Eamonn Sheridan at investinglive.com.