Nvidia doubles revenue and profit on AI chip demand

Nvidia doubled its revenue and profit in its second fiscal quarter, driven by sustained demand for AI computing power. Net profit rose 126 percent to 59.7 billion dollars on revenue of 96.2 billion dollars. The company's new Vera Rubin processor architecture is now in high-volume production. Major cloud companies like Amazon, Google, Microsoft, and Meta are investing hundreds of billions in AI data centers. With a market value of 5.07 trillion dollars, Nvidia is the world's most valuable company. It forecasts third-quarter revenue of 108 billion dollars. Shares initially slipped after hours before rising nearly four percent.