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Nvidia revenue more than doubles to 96.2 billion as AI demand surges: CEO declares inflection point

Nvidia revenue more than doubles to 96.2 billion as AI demand surges: CEO declares inflection point
30 articles·18 sources·updated about 2 hours ago·View in graph
business & financeworld
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Nvidia reported second-quarter revenue of $96.2 billion on Wednesday, more than double the $46.7 billion recorded in the same period last year, as demand for its AI chips continued to surge. The company’s net income rose 126% to $59.7 billion, with earnings per share at $2.22, exceeding the $2.10 to $2.17 range expected by analysts .

Data center revenue, the company’s largest segment, reached $89 billion, up 117% year-over-year, driven by global AI adoption. Nvidia forecast third-quarter revenue of $108 billion, surpassing Wall Street estimates of $104 billion to $105 billion .

Chief Executive Jensen Huang stated that “AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue, and demand is accelerating” . The company also announced plans to support AI infrastructure development, including a $105 billion commitment to back an OpenAI data center in Ohio and a $500 billion capital pool with Wall Street firms for data center projects .

Nvidia’s stock initially dipped in after-hours trading but later rose as much as 4.4% following the earnings call, where Chief Financial Officer Colette Kress projected 70% revenue growth for the next fiscal year. Kress acknowledged supply constraints, stating that without them, revenue could double .

The company’s market capitalization exceeds $5 trillion, with its chips widely used by AI labs and hyperscalers like Amazon, Google, and Microsoft. Huang dismissed concerns about circular financing in Nvidia’s AI investments, calling them a “once-in-a-generation opportunity” .

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