Nvidia's Q2 Revenue Hits $96.2 Billion

Relentless demand for the computing power needed for artificial intelligence applications continues to drive Nvidia, the world’s largest maker of AI chips, to strong growth. The company said its revenue more than doubled year-on-year to $96.2 billion in the fiscal second quarter ended July 26, and its net profit surged 126% to $59.7 billion. Nvidia expects revenue to rise to around $108 billion in the current fiscal third quarter, with a plus-or-minus 2% margin. Even the low end of this range slightly exceeds the average analyst forecast. The company expects gross margin to be 74%, plus or minus 0.5 percentage points, compared with 75% in the second quarter.