Analysis of NVIDIA Q3 FY26 Earnings Accounting Concerns & OpenAI Auditor Claims

This analysis responds to a Reddit post (Nov21,2025) [11] alleging NVIDIA Q3 FY26 (ended Oct26,2025) earnings had accounting red flags and questioning OpenAI’s auditor.

• NVIDIA Financial Metrics
  : AR grew ~20% QoQ to $33.4B [3], in line with revenue growth of ~22% QoQ ($57B) [7]. Inventory increased ~32% QoQ to $19.78B [3], justified by supply commitments +63% sequentially [8] and Q4 revenue guidance of $65B [7].
• OpenAI Auditor
  : Deloitte (Big4 firm) [6], no public red flags in audits [12].
• Market Impact
  : NVIDIA’s stock declined ~3% post-earnings due to profit-taking (YTD up31%) [1,2], not accounting concerns.

1. Cross-Domain Connections
   : NVIDIA’s inventory buildup reflects AI sector demand expectations; Reddit’s Cisco comparison is unfounded as AR growth lags revenue.
2. Auditor Credibility
   : OpenAI’s choice of Deloitte aligns with industry standards for tech firms.

• Risks
  : Excess inventory could lead to write-downs if Q4 demand misses guidance [0]; OpenAI’s private status limits full audit transparency [12].
• Opportunities
  : Strong Q4 guidance indicates potential AI sector growth [7].
• Monitoring Needs
  : Track NVIDIA’s inventory turnover and Q4 sales execution [0].

• NVIDIA Q3 FY26: AR ($33.4B, +20% QoQ), Revenue ($57B, +22% QoQ), Inventory ($19.78B, +32% QoQ) [3,7].
• OpenAI Auditor: Deloitte (Big4) [6].
• Market Impact: NVIDIA’s stock decline driven by profit-taking, not accounting issues [1,2].

This summary provides objective context without prescriptive investment recommendations.