NVIDIA’s stock surged 7.4% in pre-market trading after the AI chipmaker reported fiscal second-quarter revenue of $96.2 billion, a 106% year-over-year increase and above the $92 billion consensus estimate.
Adjusted earnings per share reached $2.22, exceeding the $2.08–$2.09 range forecast by analysts. This marked the company’s 15th consecutive quarter of topping expectations. The data center business, driven by demand for Blackwell Ultra infrastructure, generated $89 billion in revenue, up 117% from the prior year. NVIDIA returned $26 billion to shareholders via buybacks and dividends during the quarter.
For the current quarter, NVIDIA guided revenue to $108 billion, surpassing the roughly $104 billion consensus. The company also raised its fiscal 2028 revenue growth outlook to approximately 70%, nearly double the 45% previously modeled by analysts. CFO Colette Kress noted that capital expenditures among the top five hyperscalers are projected to reach $1.3 trillion in 2027.
The earnings report highlighted partnerships with major cloud providers. Amazon Web Services agreed to purchase 2 million NVIDIA GPUs and deploy the company’s new Vera CPU. CEO Jensen Huang described AI as having "reached its inflection point."
Broader markets reflected the optimism, with the Nasdaq gaining 1.1% and the S&P 500 up 0.5% during regular trading. NVIDIA’s stock advance extended gains following the results, signaling continued investor confidence in the AI infrastructure sector.
