NVIDIA Q2 revenue doubles

Nvidia reported fiscal second-quarter revenue of $96.2 billion on August 26, more than double the level a year earlier, extending the surge in spending on AI computing infrastructure. Data center revenue reached $89.0 billion, up 117% from a year earlier, according to the company’s earnings release. The quarter ended July 26, 2026, and revenue rose 18% from the prior quarter. Chief Executive Jensen Huang said in the release that “AI has reached its inflection point” and that tokens are now “productive and profitable.” ### How big was the quarter, exactly? Nvidia said total revenue of $96.2 billion compared with $46.7 billion in the same quarter a year earlier. That makes the year-over-year increase 106%, based on Nvidia’s reported figures for fiscal second-quarter 2027 and fiscal second-quarter 2026. Data center revenue climbed from $41.0 billion a year earlier to $89.0 billion in the latest quarter. (investor.nvidia.com) The company said GAAP and non-GAAP gross margins were both 75.0% in the quarter. GAAP diluted earnings per share were $2.46, while non-GAAP diluted earnings per share were $2.22, according to the release. ### Why did data center matter so much? Data center accounted for almost all of Nvidia’s quarterly revenue. (investor.nvidia.com) The segment’s $89.0 billion in sales represented roughly 92% of total company revenue for the quarter, based on Nvidia’s reported segment and company totals. The company described demand as being driven by AI infrastructure, with hyperscale and enterprise customers continuing to buy systems used to train and run models. Jensen Huang said demand was tied to the economics of deployment rather than experimentation alone. In Nvidia’s release, he said AI was doing “useful work,” a formulation that fits the company’s argument that customers are building revenue-generating and productivity-focused systems on top of large-scale compute. That framing also helps explain why networking, storage, deployment and software layers remain central to the spending cycle, though that interpretation is an inference from Nvidia’s customer mix and product positioning. (investor.nvidia.com) ### Did management point to more growth ahead? Nvidia forecast third-quarter revenue of about $108 billion, plus or minus 2%, according to the August 26 release. That implies another sequential increase from the $96.2 billion reported for the second quarter. The company also said it expected third-quarter GAAP and non-GAAP gross margins of about 75.0% and 75.5%, respectively, plus or minus 50 basis points. (investor.nvidia.com) CNBC reported from Nvidia’s earnings coverage that Huang forecast about 70% revenue growth for fiscal 2028, a figure that was above analyst expectations at the time. CNBC said the company’s guidance topped estimates and highlighted continued demand from large cloud customers. ### What does this say about the AI spending cycle? Nvidia’s own numbers show the buildout is still led by infrastructure rather than consumer software. (investor.nvidia.com) Revenue rose from $68.1 billion in the fiscal fourth quarter ended January 25, 2026, to $81.6 billion in the fiscal first quarter ended April 26, 2026, and then to $96.2 billion in the latest quarter. Data center revenue followed the same pattern, rising from $62.3 billion to $75.2 billion to $89.0 billion across those periods. (cnbc.com) Those figures do not show where every dollar of customer return is coming from, but they do show that companies are still committing capital to compute, networking and deployment capacity at scale. Nvidia’s next checkpoint is its fiscal third-quarter report, after the company’s forecast for about $108 billion in revenue and its posted webcast materials for investors. (investor.nvidia.com 1) (investor.nvidia.com 2)