Nvidia's Quarterly Profit Doubles to $59.69 Billion

Nvidia's quarterly net profit more than doubled year-over-year to $59.69 billion, with revenue also doubling to $96.22 billion, according to The New York Times. The results surpassed Wall Street expectations, as analysts had forecast profit of $50.94 billion on revenue of $91.96 billion. The data-center segment drove growth, with revenue up 117% to $89 billion, representing over 90% of total sales. Nvidia controls about 90% of the AI chip market, and its market capitalization now reaches $5 trillion. The company forecasts 90% revenue growth next quarter to $108 billion, though CFO Colette Kress warned supply shortages will persist until January 2028.