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Nvidia revenue doubles as AI demand hits a ‘golden age’
Nvidia posted $96.2 billion in quarterly revenue, topping Wall Street’s $92.0 billion estimate, and it forecast $108.0 billion revenue for the third quarter.
Nvidia reported another blockbuster quarter on Wednesday, with revenue nearly reaching the $100 billion mark and more than doubling from the year-ago period, positioning the company as a key read-through for the wider AI chip market. The Guardian Business said Nvidia brought in $96.2 billion in revenue in the second quarter, beating Wall Street expectations of $92.0 billion.
According to The Guardian Business, Nvidia delivered revenue growth of 106% year over year. The company also said it earned $2.22 per share, surpassing Wall Street expectations for adjusted earnings of $2.09.
Datacenter revenue, a closely watched metric for the AI buildout, rose to $89.0 billion, up 117% from a year earlier, The Guardian Business reported. Nvidia also forecast revenue to grow to $108.0 billion by the end of the third quarter, above analyst predictions.
Jensen Huang, Nvidia’s founder and CEO, told investors that AI has reached an inflection point and declared an industry “golden age,” while the company described confidence that customers will keep buying its technology. The Guardian Business said the stock rose nearly 4% after the earnings call, following an initial dip as investors focused on Nvidia’s role in setting expectations for the sector.