Nvidia Doubles Revenue and Profit in One Quarter

Nvidia reported second-quarter revenue of $96.2 billion, more than doubling year-over-year and beating analyst expectations of $92 billion. Despite the strong results, shares dipped nearly one percent in after-hours trading. Net profit surged 126 percent to $59.7 billion. The company forecasts even higher revenue of $108 billion for the current quarter, citing sustained demand from the AI boom. Nvidia's stock has gained 14.2 percent this year, while rivals AMD and Intel have more than doubled. Nvidia's AI-focused processors have made it the world's most valuable company, with a market capitalization of $5.07 trillion. Originally designed for video games, its chips now power AI data centers. The previous quarter saw similar growth, prompting additional stock buybacks and a dividend increase.