Nvidia's AI boom drives $59.7 billion quarterly profit

Nvidia nearly doubled its revenue and net profit in the second quarter, driven by sustained demand for AI computing power, reporting a net profit of $59.7 billion on revenue of $96.2 billion. CEO Jensen Huang said AI infrastructure expansion is running at full speed, with production of the new Vera Rubin processor architecture in high gear. Major cloud providers like Amazon, Google, Microsoft, and Meta are investing hundreds of billions in AI data centers. The company's market value reached $5.07 trillion, making it the world's most valuable corporation. After recent weakness, the stock rose nearly four percent in after-hours trading to $218.00, though it remains below its mid-May record high above $236.