Nvidia Q2 revenue doubles to $96bn on AI demand

Nvidia reported second-quarter revenue of $96bn, more than double the same period last year, as demand for AI hardware continues to accelerate. The company expects $108bn in the next quarter. Data center revenue alone was $89bn, up 117% year-on-year. CEO Jensen Huang said AI has reached its inflection point. Shares rose 4.7% in after-hours trading. Nvidia has become the world's most valuable company with a market cap over $5tn, and has invested in OpenAI, Anthropic, and SpaceX. Competition from customers designing their own chips and cheaper Chinese suppliers remains limited for now.