Earnings
Home›Earnings›Results›Nvidia reports $96bn in revenue as AI hardware demand…
Nvidia reports $96bn in revenue as AI hardware demand accelerates
The company expects $108bn in revenue next quarter and says its data center division generated $89bn, up 117% year over year.
Nvidia reported $96bn (£71bn) in revenue for the second quarter, more than double from a year earlier, as global demand for AI hardware continued to surge, according to BBC Business. The chipmaker said revenue also exceeded Wall Street expectations.
For the next quarter, Nvidia forecast revenue of $108bn, BBC Business reported. Its data center division generated $89bn last quarter, up 117% from a year ago, underscoring how much of the AI buildout depends on Nvidia’s chips.
The results contributed to Nvidia shares rising about 4% in after-hours trading, BBC Business said. The outlet noted that many major technology companies using AI tools and infrastructure rely on Nvidia processors.
BBC Business added that Nvidia’s financial results and chips have made it central to the AI boom, with the company described as the world’s most valuable firm with a market capitalization above $5tn. It also highlighted emerging competition from customers designing their own processors and from cheaper suppliers in China.