Nvidia CEO declares 'golden age' for AI as quarterly revenue doubles to $96 billion

Nvidia reported Wednesday that its quarterly revenue doubled year-over-year to nearly $100 billion, prompting CEO Jensen Huang to declare a "golden age" for the AI industry. The world's most valuable company, with a market capitalization just over $5 trillion, posted revenues of $96.2 billion, surpassing Wall Street's estimate of $92 billion. Revenue grew 106% from the same period last year, with Nvidia projecting $108 billion by the third quarter's end. Huang said AI has reached a turning point where "tokens" are productive and profitable, referring to text units used for billing AI usage. Despite clients attempting to build their own chips, he expressed confidence in Nvidia's complete platform, though chip stocks have recently declined amid questions about AI investment returns.