Nvidia Doubles Quarterly Revenue to $96 Billion on AI Demand
· Technology · Fortune, BBC News, TechCrunch
Nvidia reported a doubling of its quarterly revenue and profit year-over-year in the second quarter, driven by accelerating demand for its artificial intelligence chips. Total revenue for the three months ended July 26 reached $96.2 billion, surpassing analyst expectations of $92.2 billion. CEO Jensen Huang stated that AI has reached an inflection point where compute translates directly into revenue. Data center revenue accounted for $89 billion of the total quarterly earnings. For the upcoming quarter, Nvidia forecast revenue of $91 billion plus or minus 2%.
Why it matters
Nvidia's explosive growth serves as a primary economic barometer for the global artificial intelligence hardware sector and technology markets.
Read the original report — Fortune
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