Nvidia, the leading tech company, reported impressive quarterly earnings with $46.7 billion in revenue, marking a 56% increase year-over-year. This growth was primarily driven by its AI-focused data center sector, which yielded a similar 56% revenue rise, totaling $41.1 billion. Nvidia’s net income surged 59% from the previous year, reaching $26.4 billion.
CEO Jensen Huang emphasized the strategic significance of Nvidia’s latest chips, Blackwell, which alone contributed $27 billion to sales, asserting it is the pivotal AI platform. The company anticipates a staggering $3 to $4 trillion in AI infrastructure investment by 2030.
However, Nvidia faces challenges in the Chinese market due to export restrictions; no H20 chips were sold there last quarter. CFO Colette Kress highlighted concerns over regulatory uncertainties affecting shipments. Looking ahead, Nvidia projects $54 billion in revenue for Q3, excluding potential H20 sales to China.
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