As the race to develop artificial intelligence systems continues, microchip giant Nvidia has reported another massive surge in sales.
“Elchi” reports that the company announced on Wednesday that it generated $96 billion in revenue in the second quarter, which is double the amount earned in the same period last year. The company also stated that it expects $108 billion in revenue for the next quarter.
Nvidia CEO Jensen Huang stated that artificial intelligence has reached a turning point and that infrastructure investments are continuing at full speed.
Following revenue figures that exceeded Wall Street expectations, Nvidia shares rose 4.7 percent in after-hours trading.
The company’s data center division alone generated $89 billion in revenue during this period, which represents a 117 percent increase compared to last year. This figure once again highlighted the industry’s dependence on Nvidia hardware. Almost all leading technology companies building artificial intelligence tools and infrastructure, including Amazon, Meta, Google, and Microsoft, use Nvidia chips.
Financial analysts noted that the strong results underscore Nvidia’s sustained momentum. Matt Britzman, lead equity analyst at Hargreaves Lansdown, described the revenue and earnings exceeding estimates as a major result.
Nvidia’s growing financial strength is also changing its role in the industry. The company supports the construction of expensive artificial intelligence infrastructure by funding players that depend on its chips, such as OpenAI, Anthropic, and SpaceX.
The demand for processing power has turned Nvidia into the world’s most valuable company, with a market capitalization exceeding $5 trillion.
Although competition is increasing among customers designing their own processors in China and cheaper suppliers, the latest figures show that these challenges are currently limited.
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