Nvidia revenue doubles to $96bn on AI demand

Nvidia reported $96bn in second-quarter revenue, more than double year-ago figures and beating forecasts, driven by sustained AI hardware demand. Shares rose about 4% in after-hours trading following the announcement. The company's data centre division generated $89bn, up 117% from a year ago, with CEO Jensen Huang saying AI infrastructure buildout is "at full steam." Nvidia expects $108bn in next-quarter revenue, with analysts noting earnings also topped projections. Nvidia has become the world's most valuable firm at over $5tn market capitalisation, funding AI developers like OpenAI and Anthropic. Competition from custom processors and Chinese suppliers exists, but remains limited, with its fortunes affecting broader US markets.