6 days ago
Nvidia Revenue Soars 106% To $96.2 Billion As AI Boom
Nvidia makes computer chips and systems used for artificial intelligence.
The company said its sales reached $96.2 billion in its latest fiscal quarter.
That was more than twice its sales from the same quarter a year earlier.
Most of the money came from its Data Center business.
Nvidia said businesses and AI developers are buying more computing equipment.
CEO Jensen Huang said AI is now doing useful work and generating revenue.
Nvidia also returned about $26 billion to shareholders through buybacks and dividends.
The company expects sales of about $108 billion in the next quarter.
That forecast does not include Data Center computing revenue from China.
Nvidia reported fiscal second-quarter revenue of $96.2 billion, up 106% from a year earlier.
Data Center revenue reached $89.0 billion, rising 117% year-on-year and driving the company’s growth.
Overall revenue increased 18% from the previous quarter, while Edge Computing revenue rose 27% year-on-year to $7.2 billion.
CEO Jensen Huang said AI has moved beyond experimentation and is now producing useful, profitable work.
Nvidia forecast fiscal third-quarter revenue of $108.0 billion, excluding Data Center compute revenue from China.
- Who
- NVIDIA Corporation and its CEO, Jensen Huang.
- What
- Nvidia reported a 106% year-on-year increase in fiscal second-quarter revenue to $96.2 billion and forecast $108.0 billion for the next quarter.
- Where
- Nvidia’s results concern its global businesses; the next-quarter forecast specifically excludes Data Center compute revenue from China.
- When
- The reported quarter ended July 26; the next quarterly dividend is scheduled for October 1.
- Why
- Demand for AI computing hardware continued to surge, particularly for Nvidia’s Data Center business.
Key facts
- Fiscal second-quarter revenue
- $96.2 billion, up 106% from a year earlier
- Data Center revenue
- $89.0 billion, up 117% year-on-year
- Edge Computing revenue
- $7.2 billion, up 27% year-on-year and 13% sequentially
- Gross margins
- GAAP and non-GAAP margins were both 75.0%
- Shareholder returns
- Approximately $26.0 billion through stock buybacks and dividends
- Next-quarter revenue forecast
- $108.0 billion, plus or minus 2%, excluding China Data Center compute revenue
- Dividend
- $0.25 per share, payable October 1 to shareholders of record September 10
Quotes
Jensen Huang
Founder and CEO of Nvidia
“AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue,”
freepressjournal.in
Sources
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