Nvidia reported quarterly revenue of $96.22 billion, more than doubling year-over-year as demand for artificial intelligence hardware remained robust, and surpassed analyst expectations by roughly $4 billion. Adjusted earnings per share reached $2.22, also exceeding forecasts. The company guided for third-quarter revenue of $108 billion, above the $104.19 billion consensus estimate.
The chipmaker’s stock rose more than 4% in after-hours trading following an initial decline during regular hours. Nvidia’s results are widely viewed as a bellwether for the broader AI market.
For the full fiscal year ending in January 2028, Nvidia forecast revenue growth of approximately 70%. The company projected a gross margin of 74% for the current quarter, slightly below analyst expectations. Management also indicated that no sales of data center chips to China are expected, citing ongoing uncertainty from U.S. export restrictions.
Nvidia announced plans to expand its partnership with Amazon’s cloud division, with a commitment to deploy two million additional GPUs in Amazon Web Services infrastructure by 2027 and 2028. The company is also advancing efforts to secure financing for new data centers, aiming to mobilize over $500 billion through a consortium of global asset managers. Nvidia’s chief investor at BNP Paribas Asset Management described AI compute power as “the new oil,” framing it as a creditworthy asset class.
The company is engaged in discussions with OpenAI regarding a potential $250 billion guarantee to support the leasing of a large-scale data center. Nvidia’s GPUs remain critical for training AI models, though CPUs from rivals such as AMD and Intel are increasingly favored for inference workloads and autonomous AI agents, where traditional processors offer better performance and cost efficiency.
