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Revenue for the quarter ended July 26 rose 106% year-on-year and 18% from the previous quarter.
Nvidia CEO Jensen Huang attends the Q&A session with the media in Tokyo. (AFP file photo)
AI chip giant Nvidia reported quarterly revenue of $96.2 billion on Wednesday, more than doubling from a year earlier and beating Wall Street estimates, as demand for AI infrastructure shows little sign of slowing.
Revenue for the quarter ended July 26 rose 106% year-on-year and 18% from the previous quarter, comfortably ahead of analysts’ estimate of about $92 billion. Net profit jumped 126% to $59.7 billion, although the figure included $7.8 billion in gains from Nvidia’s investments in AI companies.
Nvidia’s results are closely watched as a key measure of the global AI boom, with major technology firms including OpenAI, Anthropic, Meta and Google among its biggest customers.
Nvidia Sees $108 Billion Revenue Next Quarter
The company forecast revenue of about $108 billion for the current quarter, above Wall Street’s average estimate of $104.2 billion, signalling continued strong spending on AI data centres.
Nvidia’s largest customers — Amazon, Microsoft, Alphabet and Meta — are expected to spend about $800 billion on data centres and AI infrastructure this year. Industry-wide spending could exceed $1 trillion, according to analysts.
The strong outlook comes amid growing scrutiny of Nvidia’s role in financing the AI ecosystem, including investments in companies that in turn spend heavily on Nvidia’s chips.
No China AI Chip Sales In Forecast
Nvidia said its latest forecast assumes no revenue from sales of AI computing chips in China, where US export restrictions continue to limit its business.
Beijing has recently allowed limited shipments of Nvidia’s H200 processors, with ByteDance and Tencent reportedly receiving around 10,000 units each — well below the volumes allowed under US export licences.
Nvidia shares have gained about 14% this year, trailing several rival chipmakers. Still, the California-based company remains the world’s most valuable publicly traded firm, ahead of Apple, after its stock surged following the launch of ChatGPT and the resulting AI investment boom.
(With inputs from AFP)
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Ask News18Global spending on AI infrastructure is projected to reach as much as $725 billion this year. Amazon, Alphabet, Microsoft, and Meta are expected to spend a combined $760 billion in 2026.
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