Chip giant Nvidia reported another huge jump in sales as the global race to build artificial intelligence, AI, systems continues.
The company said on Wednesday that it brought in US$96 billion of revenue during the second quarter, more than double the amount for the same period a year earlier.
And it expects revenue of US$108 billion in the next quarter.
CEO Jensen Huang said in prepared remarks that AI has reached its inflection point, 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 per cent in after-hours trading.
The company’s data centre division alone generated US$89 billion in the period, up by 117 per cent from a year earlier, underscoring just how much of the industry now depends on Nvidia’s hardware.
Essentially every notable tech company building AI tools and infrastructure, including Amazon, Meta, Google, Microsoft, use Nvidia chips to do so.
Financial analysts said the strong results highlight Nvidia’s ongoing momentum.
