MEXC Cuts NVDA Futures Max Leverage to 20x Ahead of Nvidia Earnings

MEXC Cuts NVDA Futures Leverage to 20x

MEXC will temporarily cap maximum leverage on NVDAUSDT perpetual futures at 20x during a three-hour window on Aug. 27, running from 04:00 to 07:00 KST, ahead of Nvidia's fiscal second-quarter earnings. The contract is a stock-tracking perpetual traded alongside altcoin pairs on the exchange. The exchange's official announcement said the move was designed to manage trading risk around the results, which were expected after 05:00 KST. Standard NVDAUSDT contracts currently allow up to 200x leverage, while copy trading and automated AI trading bot strategies such as futures grid bots will drop to 20x from 50x. Existing positions above the temporary cap may be closed but not increased, and new orders above the limit will not be accepted.

In its investor-relations disclosure, Nvidia reported revenue of $96.2 billion for the fiscal second quarter, up 106% year over year and an all-time high for the company. Data center revenue climbed 117% to $89 billion, while non-GAAP earnings per share reached $2.22 and adjusted gross margin held at 75%. Management guided third-quarter revenue to roughly $108 billion, citing early momentum from the Blackwell Ultra platform. After a brief post-release dip, shares reversed and were indicated up more than 4% near $219.40 in extended trading.

The earnings release also quantified Nvidia's forward order book. The company disclosed $366 billion in multiyear artificial intelligence infrastructure commitments, including $279 billion for supply and capacity, up from $119 billion in the prior quarter and tied mainly to memory procurement. CFO Colette Kress said Nvidia had worked with its supplier network to secure components for the next several years. Nvidia also revealed up to $108.5 billion in phased guarantees, which represent potential exposure rather than a current loss, and said its August agreement with SB Energy's PORTS-Pike campus in Ohio could involve about 1.5 million GPUs per generation and $150 billion to $200 billion in revenue per infrastructure cycle.

Wall Street had expected $92.27 billion in quarterly revenue, a bar Nvidia cleared by nearly $4 billion. The data center segment's $89 billion beat the $85.4 billion estimate, while earnings per share of $2.22 topped the $2.09 consensus. Third-quarter guidance of $108 billion was also ahead of the $103.9 billion Street forecast. The projected figure holds extra significance because only nine companies in the S&P 500 have previously generated $100 billion or more in a single quarter.

Sales to hyperscalers, the largest cloud providers, reached $48.71 billion against a $43.55 billion estimate, a breadth that eased concerns about AI spending being concentrated among a few buyers. Adjusted net income rose 118% to $54 billion, and free cash flow came in at $21.3 billion. Revenue guidance of $108 billion, plus or minus 2%, matched whisper numbers of $107 billion to $110 billion that trading desks had discussed before the print. The outlook again assumes no data center compute revenue from China. Market commentary posted after the release captured an initial 4% slide in NVDA even as the company beat on both revenue and earnings.

The muted extended session followed a cautious setup. NVDA closed regular trading down 1.59% at $209.66 and entered the report after a seven-session losing streak, having fallen after each of its last four earnings releases despite beating estimates. Traders had warned of a possible earnings trap heading into the print, leaving positioning defensive rather than reflecting a broad bear market. Capital returns may cushion any further weakness: Nvidia returned about $26 billion to shareholders during the quarter and retains roughly $99 billion in buyback authorization. The stakes extend beyond one stock, with Nvidia and Micron driving about a third of Wall Street's earnings growth.

The MEXC leverage curb and the choppy after-hours reaction highlight the same tension: Nvidia's fundamentals are stronger, but the trade around them carries more risk. The company's investor-relations disclosure shows real demand at scale, with $96.2 billion in quarterly revenue, a $108 billion guide, $279 billion in supply commitments and up to $108.5 billion in maximum guarantee exposure. Those obligations mean much of tomorrow's output is already committed, yet they leave the stock sensitive to memory costs and execution on the Vera Rubin ramp. For crypto traders, the 20x cap served as a circuit-breaker; the next test is whether the earnings call shifts the AI-linked tape into Thursday's open.