Nvidia beats Q2 forecasts with $96.2bn revenue as AI demand surges

Nvidia smashed second-quarter forecasts with $96.2 billion in revenue, beating Wall Street's $92.2 billion estimate, and guided next quarter to $108 billion as CEO Jensen Huang declared AI has reached an "inflection point." Data centre revenue surged 117% to $89 billion, excluding China sales, while the company faces concerns over its reliance on Amazon, Google, and Microsoft, which are designing their own chips. Nvidia has helped finance AI infrastructure with a $500 billion capital pool and a $105 billion OpenAI data centre commitment. Washington approved shipping the H200 chip to vetted Chinese customers, with reports of large allocations to ByteDance and Tencent. Growth is driven by Blackwell chips, with successor Vera Rubin shipping in the second half of the year.