Nvidia · Jensen Huang · Wall Street · BBC Technology
Nvidia revenue doubles on continued AI demand
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Chip giant Nvidia reported another huge jump in sales as the global race to build artificial intelligence (AI) systems continues.
Key facts
- The company's data centre division alone generated $89bn in the period, up by 117% from a year earlier, underscoring how much of the indus
- The company said on Wednesday that it brought in $96bn (£71bn) of revenue during the second quarter, more than double the amount for the same period a year earlier
- With around 40% of the US stock market concentrated in ten companies heavily invested in AI, Nvidia's fortunes matter far beyond Silicon Valley
- He said the guidance for next quarter "points to revenue comfortably above $110bn
Summary
The company said on Wednesday that it brought in $96bn (£71bn) of revenue during the second quarter, more than double the amount for the same period a year earlier. "AI has reached its inflection point," CEO Jensen Huang said in prepared remarks, describing the infrastructure buildout as going "at full steam. The revenue figures beat Wall Street's expectations, leading Nvidia shares to rise by 4.7% in after-hours trading. The company's data centre division alone generated $89bn in the period, up by 117% from a year earlier, underscoring how much of the indus.