Nvidia Reports Record Revenue As OpenAI Develops Custom Chips
· Business · CNBC, CBS News
Nvidia reported second-quarter revenue of $96.22 billion, more than doubling its previous figures, and forecasted 70% revenue growth for fiscal 2028. Despite this performance, the company faces growing competition as major AI firms, including OpenAI, begin developing their own custom hardware. OpenAI recently announced its first AI chip, the Jalapeño, which the company claims offers superior speed and efficiency compared to selected Nvidia systems. Meanwhile, Apple is scheduled to hold its annual iPhone launch event on September 9, marking the first under incoming CEO John Ternus. Salesforce also beat earnings expectations, with its shares surging over 12%.
Why it matters
The rise of custom chips from major AI developers like OpenAI could challenge Nvidia's dominance in the AI hardware market, potentially reshaping the competitive landscape for tech infrastructure.
Read the original report — CNBC
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