Nvidia Revenue Doubles to $96.2 Billion as AI Chip Demand Surges

Nvidia reported net income of $59.69 billion for its May–July quarter on Wednesday, a jump from $26.42 billion a year earlier, as demand for its high-end artificial intelligence chips again pushed results well beyond Wall Street forecasts. The figures gave investors concrete numbers after days of speculation over how the chipmaker would perform.

Revenue at the Santa Clara, California company more than doubled from the year-ago period to $96.22 billion, comfortably clearing the $92.27 billion analysts had projected. On a per-share basis, adjusted earnings reached $2.22, above the $2.09 consensus compiled by FactSet, while net income worked out to $2.46 per share.

Behind the numbers, growth is still accelerating rather than cooling. For the current August–October quarter, Nvidia guided to revenue of roughly $108 billion, ahead of the $104.86 billion analysts expected. Should the company hit that target, it would represent an increase of about 89% from the same period last year.

Not every line pointed upward. Operating expenses climbed 55% to $8.41 billion, reflecting the cost of sustaining the pace of chip development and the wider buildout of AI infrastructure that has made Nvidia’s processors the preferred building blocks for data centers.

The results extend a pattern that has held for roughly three years, with the company repeatedly beating analyst estimates by wide margins since its top-tier chips became central to AI computing. That consistency has made each quarterly report a closely watched event for the broader technology sector and for the many firms whose spending plans depend on chip supply.

Investors nonetheless reacted cautiously. Shares slipped 1.8% in after-hours trading shortly after the release, having already closed the regular session 1.6% lower. The stock remains up 12.4% for the year. The muted response followed earlier options positioning that had pointed to an unusually calm reaction to the earnings.

The report lands as questions persist over how long the current wave of AI infrastructure spending can hold. Nvidia’s guidance suggests customers continue to commit large sums to computing capacity, a signal watched by cloud providers, chip suppliers and equipment makers across the industry.

For companies building AI products, the results carry a practical message: the demand that has kept advanced chips scarce and expensive shows little sign of easing, meaning buyers can expect continued competition for supply well into the next quarter.

The post Nvidia Revenue Doubles to $96.2 Billion as AI Chip Demand Surges appeared first on Beijing Times.