Nvidia doubles revenue to $96.2 billion on AI chip demand

Nvidia doubled its revenue to $96.2 billion in the second fiscal quarter, driven by sustained AI demand, while net profit rose 126 percent to $59.7 billion. Shares dipped nearly one percent in after-hours trading despite the strong results. The company forecasts third-quarter revenue of $108 billion, slightly above analyst expectations, with adjusted gross margin around 74 percent. Investors, accustomed to rapid growth and high margins, showed little initial reaction to the figures. Nvidia, once known for gaming graphics cards, now supplies key chips for AI model training and operation. Its market value reached $5.07 trillion, making it the world's most valuable company.