tech
Nvidia's quarterly revenue doubles to nearly $100bn as CEO declares 'golden age'
The $5tn firm beat Wall Street expectations for yet another blockbuster quarter, though the stock made only modest gains
TL;DR
- Nvidia's quarterly revenue reached $96.2 billion, a 106% increase year-over-year.
- The company's datacenter revenue was $89 billion, up 117% from the previous year.
- CEO Jensen Huang declared that the AI industry has reached a 'golden age' where compute is generating revenue.
- Nvidia expects revenue to reach $108 billion in the third quarter, surpassing analyst predictions.
- The company's strong performance is viewed as a proxy for the health of the entire AI industry.
- Nvidia is working with major financial firms to create a $500 billion capital pool and is building an 8GW datacenter in Ohio.