tech
Nvidia CFO says about half of its data center business comes from customers beyond hyperscalers
Good morning. Nvidia just handed AI bubble skeptics their toughest rebuttal yet.
TL;DR
- Nvidia's fiscal Q2 revenue reached $96.2 billion, up 106% year over year, exceeding analyst estimates.
- Data Center revenue was $89.0 billion, an increase of 117% year over year.
- Nvidia forecasts fiscal 2028 annual sales to increase by 70%.
- Approximately half of Nvidia's data center business now comes from non-hyperscaler customers (AICE segment).
- Global VC funding in AI exceeded $400 billion in the first half of 2026, with most spent on compute.
- Nearly 20 companies, including those owned by SpaceX, now exceed $1 billion in annualized run-rate revenue, with vertical enterprise software showing the fastest growth.