Nvidia revenue doubles on continued AI demand — SkimNews
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- Nvidia posted $96bn in Q2 revenue, more than double the same period a year earlier, and guided to $108bn for the next quarter, beating Wall Street expectations.
- Nvidia's data centre division generated $89bn in the period, up 117% year-over-year, underscoring how heavily AI infrastructure depends on its chips.
- Nvidia shares rose 4.7% in after-hours trading after the results, with analyst Matt Britzman of Hargreaves Lansdown calling it "another monster set of results" and noting guidance "points to revenue comfortably above $110bn."
- Nvidia now carries a market capitalisation above $5tn, making it the world's most valuable firm, and provides funding to chip customers including OpenAI, Anthropic, and SpaceX to sustain the AI buildout.
- Jensen Huang said in prepared remarks that the AI infrastructure buildout is going "at full steam," describing AI as having "reached its inflection point."
- Competition from customers designing their own processors and from cheaper Chinese suppliers is emerging, but the latest results suggest those challenges "remain limited for now."
- The broader market is exposed: roughly 40% of the US stock market is concentrated in ten AI-heavy companies, meaning Nvidia's fortunes drive far more than Silicon Valley.
Why it matters: Nvidia's $96bn quarter—double a year ago—cements its position as the world's most valuable company at over $5tn, and with roughly 40% of the US stock market concentrated in ten AI-heavy names, its earnings now move the entire index. The $89bn data-centre haul, up 117%, shows the AI infrastructure spend isn't slowing, while Nvidia's quiet funding of customers like OpenAI, Anthropic, and SpaceX turns it into a kingmaker with stakes across the ecosystem it supplies.
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