In the fiscal second quarter, Nvidia's revenue doubled to $13.5 billion, and the company became the first semiconductor firm to reach a $1 trillion market valuation. Nvidia's division that supplies chips to data centers has become its biggest revenue generator, with sales of $10.3 billion last quarter. The company's stock has increased by over 200% this year, outperforming all others in the Philadelphia Stock Exchange Semiconductor Index. Other chipmakers are striving to catch up with Nvidia in AI processors, but Nvidia continues to upgrade its products and release related software and services to maintain its lead.
Key takeaways:
- Nvidia delivered a strong quarterly revenue forecast, with shares soaring more than 8% in extended trading after the company said sales will be about $16 billion in the three months ending in October, surpassing analysts' estimates of $12.5 billion.
- The company's role as a key player in the AI computing boom has been underscored, with data center operators stocking up on Nvidia's processors to handle heavy AI workloads.
- Nvidia's second quarter revenue doubled to $13.5 billion, and the company became the first-ever semiconductor company to reach a $1 trillion market valuation after a successful quarter in May.
- The company's division that supplies chips to data centers has become its biggest moneymaker, with sales of $10.3 billion last quarter, and its stock run-up of more than 200% this year has outpaced all others in the Philadelphia Stock Exchange Semiconductor Index.