The $5tn firm beat Wall Street expectations for yet another blockbuster quarter but stock stays flat
Nvidia announced on Wednesday that its quarterly revenue had doubled in a year to nearly $100bn. Jensen Huang, the founder and CEO, jubilantly declared that demand is accelerating as the AI industry had reached a “golden age”.
The chipmaker, the most valuable company in the world with a $5tn market cap, brought in $96.2bn in revenue, beating Wall Street expectations of $92bn in the second quarter. That’s 106% more than the company saw in revenue this time last year. The company expects its revenue to continue to grow to $108bn by the end of the third quarter, higher than analysts predicted.
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