Nvidia CFO Colette Kress said gross margins are expected to be in the "low 70s" as Blackwell production ramps up before improving later in the year.

The consensus on Wall Street seems to be that while Nvidia's latest results look decent, they're a little bit short of the eye-popping earnings beats to which investors have become accustomed in recent years.

Wall Street took a dim view of Nvidia's quarterly forecast on Thursday with investors pushing the stock down more than 8%, piling pressure on the "Magnificent Seven" stocks that have garnered market skepticism in the last three months.