Nvidia is scheduled to report its second-quarter financial results after the market closes on Wednesday. Here's what you need to know.

REVENUE: The semiconductor giant is expected to report $92.27 billion in revenue, according to analysts polled by FactSet, compared with $46.74 billion a year earlier.

PROFIT: Nvidia is expected to post a profit of $51.55 billion, or $2.11 a share, compared with $26.42 billion, or $1.08 a share, a year prior, according to FactSet.

ADJUSTED EARNINGS: On an adjusted basis, analysts expect earnings of $2.09 a share, compared with $1.05 a share a year earlier.

Shares in Nvidia were recently trading up 1.8% at $212.31. The stock has risen 14% this year.

WHAT TO WATCH

-- Nvidia is increasingly moving from being just a provider of computer chips to a financier of the broader artificial-intelligence buildout. The company has provided a backstop for OpenAI's lease on an Ohio data center, and recently announced a $500 billion plan with major Wall Street firms. Those commitments that could together put Nvidia on the hook for around $230 billion, The Wall Street Journal has reported. Nvidia seems to be moving toward a neocloud model with revenue-sharing proposals, and though the details remain unclear, current levels of compute demand support the move, Morgan Stanley analysts wrote in a recent note. Still, they acknowledged that skeptics may point to financing risk from circularity and leverage.

-- This financing push, and other longer-term themes, including Nvidia's China business, competitive threats in semiconductors, future gross margins, and the Vera Rubin ramp, are likely to be the key investor debates rather than numbers from the July quarter, according to analysts at Morgan Stanley and JPMorgan. This is especially the case given that Rubin chips are unlikely to have a material impact until at least the October quarter. Nvidia's stock usually trades down despite beating estimates and raising guidance, and many analysts expect that pattern to continue on Wednesday, even as the company projects confidence across these long-term themes. Given a demanding setup, "we believe investors will again require incremental evidence rather than another routine beat and raise," Benchmark analyst Cody Acree recently wrote.