Nvidia, the leading global technology company, announced impressive financial results in its latest earnings report on Wednesday. The company recorded $46.7 billion in revenue, marking a remarkable 56% increase from the previous year. This growth was primarily driven by the booming AI-centric data center business, which experienced a substantial 56% year-over-year revenue surge.
Furthermore, Nvidia witnessed a significant increase in net income, reaching $26.4 billion in the second quarter, reflecting a 59% spike compared to the same period last year.
The data center sales contributed significantly to the overall revenue, with a total of $41.1 billion generated in this segment during the quarter. This indicates a growing demand for cutting-edge GPUs from AI companies. Notably, the latest generation of chips, known as Blackwell, accounted for $27 billion of these sales.
In a statement, CEO Jensen Huang emphasized the significance of Blackwell as the central AI platform. He stated, “Blackwell is the AI platform the world has been waiting for, and it is at the forefront of the AI race.”
Huang also highlighted the company’s projection of $3 to 4 trillion in AI infrastructure spending by the end of the decade, emphasizing the substantial growth opportunities in the AI sector.
Additionally, Nvidia’s involvement in the launch of OpenAI’s gpt-oss models was noted, showcasing the company’s technological advancements and capabilities.
However, the earnings report shed light on Nvidia’s challenges in selling chips in the Chinese market. The company reported no sales of its China-focused H20 chip to Chinese customers in the past quarter, attributing the lack of shipment to uncertainties surrounding geopolitical regulations.
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Despite the challenges in the Chinese market, Nvidia has set a revenue expectation of $54 billion for the third quarter. The company’s outlook excludes any H20 shipments to China, reflecting the ongoing uncertainties in the region.
