tech
Nvidia Earnings Beat Expectations as AI Chip Demand Stays Strong
The company expects to cross $100 billion in quarterly revenue for the first time as demand for AI computing continues to grow.
TL;DR
- Nvidia's second-quarter revenue was $96.2 billion, up 106% year-over-year.
- Net income soared to $59.7 billion, a 126% increase from the previous year.
- The company's guidance for third-quarter revenue is $108 billion, plus or minus 2%.
- Data center revenue hit a record $89 billion in the second quarter.
- CEO Jensen Huang expressed confidence in continued AI boom, calling it a 'golden age'.
- Nvidia's outlook assumes no data center compute revenue from China.
- Nvidia shares rebounded during the earnings call after initial after-hours losses.