tech
What we learned from Nvidia's big day
The chipmaker is making serious money, and investors seem to grudgingly have to hand it to them.
TL;DR
- Nvidia's Q2 revenue reached $96.2 billion, more than doubling from the previous year.
- The company expects revenue to jump 70% next fiscal year, exceeding prior projections.
- Amazon will purchase an additional 2 million chips from Nvidia.
- Nvidia is experiencing supply chain constraints for memory chips, a problem driven by AI buildout demand.
- The company is executing a $19 billion stock buyback, more than the previous year.
- AI demand is being driven by hyperscalers, sovereign AI projects, and the enterprise market.
- Concerns exist about the AI ecosystem's proven value and Nvidia's potential involvement in 'circular financing'.
- Nvidia's CEO defended significant investments in frontier AI labs, suggesting some companies may go public soon.