Nvidia Makes $96bn in Three Months
The American chip company Nvidia says its sales are now two times bigger than last year.
Nvidia makes computer chips. Many companies use these chips for artificial intelligence (AI).
The company made $96bn in three months. This is more than two times the money of last year.
Nvidia said this on Wednesday. It thinks it will make $108bn in the next three months.
The news was better than experts expected. The shares went up by 4.7%.
Amazon, Meta, Google and Microsoft all use Nvidia chips.
Nvidia is now the most valuable company in the world.
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Nvidia Revenue Doubles to $96bn as AI Demand Grows
The chipmaker beat expectations and expects $108bn in the next quarter.
The American chip company Nvidia said on Wednesday that it made $96bn (£71bn) in the second quarter. That is more than double the amount it made in the same period a year earlier.
The company also said it expects to make $108bn in the next quarter. The numbers were better than Wall Street expected, so Nvidia shares rose by 4.7% in after-hours trading.
Nvidia's data centre business alone made $89bn, an increase of 117% from a year earlier. Almost every big technology company that builds AI tools, including Amazon, Meta, Google and Microsoft, uses Nvidia chips.
The chief executive, Jensen Huang, said that "AI has reached its inflection point". Nvidia has become so strong that it now gives money to some companies that use its chips, such as OpenAI, Anthropic and SpaceX.
Nvidia is now the most valuable company in the world, with a market value of more than $5tn. Some customers are designing their own chips and cheaper suppliers in China are appearing, but these challenges look small for now.
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Nvidia Reports $96bn Quarter as AI Spending Accelerates
The chipmaker's revenue more than doubled from a year earlier and it expects $108bn in the current quarter.
Nvidia has reported another sharp rise in sales as the global race to build artificial intelligence (AI) systems continues. The company said on Wednesday that it brought in $96bn (£71bn) of revenue in the second quarter, more than double the figure for the same period a year earlier. It expects revenue of $108bn in the next quarter.
"AI has reached its inflection point," the chief executive, Jensen Huang, said in prepared remarks, describing the building of AI infrastructure as going "at full steam".
The results beat Wall Street's expectations and Nvidia shares rose by 4.7% in after-hours trading. The company's data centre division alone generated $89bn in the period, up 117% from a year earlier, showing how much of the industry now depends on Nvidia's hardware. Essentially every notable technology company building AI tools, including Amazon, Meta, Google and Microsoft, uses Nvidia chips.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, called the figures "another monster set of results", noting that revenue and earnings both topped forecasts. He said the guidance for the next quarter "points to revenue comfortably above $110bn".
Nvidia's growing financial strength has also changed its role in the sector. It has begun funding some of the companies that rely on its chips, including OpenAI, Anthropic and SpaceX, to support the costly buildout of AI infrastructure. Demand for computing power has turned Nvidia into the world's most valuable firm, with a market capitalisation of more than $5tn. Competition is emerging from customers designing their own processors and from cheaper suppliers in China, but the latest numbers suggest those challenges remain limited for now.
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