Nvidia beats expectations but warns of supply chain limits

Nvidia reported strong second-quarter earnings on Wednesday, with revenue and profit beating expectations, aiming to reassure anxious markets about sustained demand for its artificial intelligence chips. The company posted $96.2 billion in revenue, up 106% year-over-year. The results, covering May to July 2026, also showed an 18% increase from the previous quarter. Nvidia forecast $108 billion in revenue for the current quarter and projected 70% growth for fiscal 2028, with CEO Jensen Huang noting results would be higher without supply chain shortages. The company, valued at over $5 trillion as the world's most valuable firm, is seen as a key barometer of AI spending. Its performance was closely watched ahead of a Federal Reserve speech by Kevin Warsh on Friday.