Nvidia revenue doubles to $89bn

Nvidia used its August 26 earnings release to show how concentrated the AI spending boom has become. The company reported second-quarter fiscal 2027 revenue of $96.2 billion, up 106% from a year earlier, with data-center revenue at $89.0 billion, up 117%. Nvidia also told investors it expects third-quarter revenue of about $108 billion, plus or minus 2%, according to its earnings release and SEC filing. Those numbers matter because they show that nearly all of Nvidia’s growth is still being driven by the same core business: selling chips and systems into AI infrastructure buildouts. Jensen Huang, Nvidia’s chief executive, said in the release that “demand is accelerating” and that the company’s Vera Rubin platform is now in full production. He also said “compute is revenue,” tying Nvidia’s sales growth directly to the expansion of AI workloads. (investor.nvidia.com) ### How big was the quarter in plain numbers? Nvidia’s $96.2 billion in quarterly revenue was paired with GAAP net income of $59.7 billion and diluted earnings per share of $2.46. Non-GAAP diluted earnings per share came in at $2.22, while both GAAP and non-GAAP gross margin were 75.0%, the company said. (investor.nvidia.com) The $89.0 billion data-center figure was the clearest signal in the report. Nvidia said that segment rose 117% from a year earlier and 18% from the prior quarter, making it by far the dominant contributor to total sales. In the same release, the company said it was not assuming any data-center compute revenue from China in its third-quarter outlook. (investor.nvidia.com) ### Why are investors focused so heavily on the data-center line? Data-center revenue matters because it captures the spending by hyperscalers, frontier labs, startups and other buyers building AI systems at scale. Nvidia said in management commentary filed with the SEC that hyperscale revenue more than doubled from a year earlier and that the quarter was driven by the ramp of Blackwell Ultra infrastructure. (investor.nvidia.com) Huang described the customer base as broader than it was a year ago. In Nvidia’s release, he said that last year “one lab alone” was driving the buildout, while now multiple frontier labs, startups, open-model developers and physical AI customers were scaling in parallel across the United States and other markets. (sec.gov) ### What did Nvidia tell investors comes next? Nvidia said third-quarter fiscal 2027 revenue is expected to reach $108.0 billion, plus or minus 2%. The company also forecast GAAP and non-GAAP gross margins of about 74.0%, plus or minus 50 basis points, and operating expenses of about $9.2 billion and $9.0 billion, respectively. (investor.nvidia.com) The company also said it returned about $26.0 billion to shareholders during the quarter through buybacks and dividends. Nvidia said it had about $99.0 billion remaining under its share repurchase authorization and plans to pay its next quarterly dividend of $0.25 per share on October 1, 2026, to shareholders of record on September 10, 2026. (investor.nvidia.com) ### What about the Ark purchase and the Hugging Face deal reports? Barchart reported that Cathie Wood’s Ark funds bought 243,707 Nvidia shares after the earnings release, framing the purchase as a vote of confidence in Nvidia’s growth outlook after the quarter. That share purchase was not part of Nvidia’s filing, but it added to the market reaction around the results. (investor.nvidia.com) CNBC reported on August 27 that Nvidia had agreed to buy Hugging Face for $12.9 billion, citing The Information, while also saying a source familiar with the matter could confirm that an acquisition had been part of ongoing and recent talks. Bloomberg reported on September 2 that Nvidia was nearing a deal that may total about $14 billion. Neither report, based on the available sourcing, amounted to a completed transaction announced by Nvidia. (barchart.com) ### Did Nvidia confirm the SpaceX stake? The earnings release and SEC exhibit reviewed here did not mention a SpaceX stake. Because Nvidia’s August 26 release and the SEC earnings exhibit focused on quarterly operating results, investors looking for confirmation of portfolio holdings or separate investment disclosures would need to review any later filing or announcement that specifically addresses them. (cnbc.com) October 1, 2026, is the next dated capital-markets event in Nvidia’s earnings materials, when the company said it expects to pay its quarterly dividend. Before that, investors will be watching whether Nvidia’s reported third-quarter revenue lands near the company’s $108 billion forecast and whether any formal filing confirms the reported Hugging Face transaction. (investor.nvidia.com)