Key facts
- Nvidia's second-quarter revenue reached $96.22 billion, more than doubling year-over-year.
- The company's data center division generated $89 billion in revenue.
- Nvidia forecasts revenue of approximately $108 billion for the current quarter.
- Nvidia's net income for the May-July period was $59.69 billion.
- Adjusted earnings per share of $2.22 surpassed the consensus forecast of $2.09.
Nvidia has reported a significant surge in revenue, with sales doubling to $96.22 billion in the second quarter compared to the same period last year, driven by sustained demand for its artificial intelligence chips. The company's data center division was a major contributor, generating $89 billion in revenue, an increase of 117% year-over-year. Nvidia's adjusted earnings per share of $2.22 surpassed the consensus forecast of $2.09, and net income reached $59.69 billion for the May-July period. The company also announced an expansion of its partnership with Amazon Web Services to deploy an additional 2 million Nvidia GPUs by 2028. Nvidia forecasts revenue of approximately $108 billion for the current quarter, exceeding analysts' projections of $104.86 billion. Despite these strong results and forecasts, Nvidia's stock experienced a slight decline in after-hours trading, with some investors concerned about the AI spending cycle and potential competition. CEO Jensen Huang described the current AI infrastructure buildout as proceeding "at full steam."