Nvidia exceeds expectations as AI drives second quarter results

Net profit rises 168% year-on-year to $16.6bn

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Jensen Huang, Nvidia

Nvidia once again saw its revenue and profit rise hard in the second quarter, exceeding expectations.

In the second quarter, Nvidia posted revenue of $30.0 billion, 122% more than in the same period last year.

Net profit rose 168% year-on-year to $16.6 billion.

Data centre revenue grew 154% in the second quarter from a year ago to $26.3 billion, courtesy of AI applications.

The gaming business, which includes graphics cards for laptops and PCs, accounted for $2.9 billion.

For the third quarter, Nvidia is counting on sales of $32.5 billion.

Nvidia contributed significantly to the overall profitability of the S&P 500 this year.

Nvidia’s success goes in stark contrast to the managerial chaos at Intel. Board member Lip-Bu Tan has resigned furiously from the board because of exasperation over its risk-averse culture, lagging AI strategy and unconvincing recovery plan.

Read More: Nvidia Results