Nvidia's profit rose 59% thanks to demand for AI
Revenue for the second quarter was $46.7 billion, up 56% from the same period last year. Net income rose 59% to $26.4 billion.
Revenue for the second quarter was $46.7 billion, up 56% from the same period last year. Net income rose 59% to $26.4 billion.
The Taiwanese graphics chip maker reported its financial results, TechCrunch reports . In total, the company earned $41.1 billion in revenue from data center equipment sales for the quarter, indicating that demand from AI companies for cutting-edge graphics processors continues to grow. Nvidia's latest generation of chips, Blackwell, brought in $27 billion.
“Blackwell is the AI platform the world has been waiting for,” said CEO Jensen Huang, who also predicted that spending on AI infrastructure will reach $3 trillion to $4 trillion by the end of the decade.
At the same time, the company faces challenges in the Chinese market. Despite the US allowing it to sell chips to China with a 15% export duty, Nvidia did not ship a single H20 in the second quarter. Chinese authorities have not officially banned the chips, but they have barred local companies from using them, which has led to the curtailment of H20 production.
Recall that for the previous quarter, Nvidia reported losses of $4.5 billion . The company complained about the US ban on selling H20 chips to China. It was predicted that Nvidia could lose $18 billion due to this ban.
Despite difficulties with tariffs, in June of this year Nvidia overtook Microsoft and regained its status as the most valuable company in the world with a valuation of $3.45 trillion.
Nvidia reaches historic $4 trillion market cap thanks to AI dominance
Nvidia reaches historic $4 trillion market cap thanks to AI dominance
Nvidia CEO sells shares worth nearly $900 million, while the company maintains a record capitalization
Nvidia CEO sells shares worth nearly $900 million, while the company maintains a record capitalization
Nvidia surpasses Apple's record and approaches $4 trillion capitalization
Nvidia surpasses Apple's record and approaches $4 trillion capitalization
Read the country's main IT news in our Telegram
Read the country's main IT news in our Telegram
