Nvidia’s earnings call pleased investors as CFO Colette Kress announced second-quarter revenue of $30 billion, beating estimates by $2 billion. The upbeat signal is likely to fuel the booming artificial intelligence sector when markets reopen on Thursday, August 29.
Nvidia held its second-quarter earnings call on Wednesday, August 28, an event that investors and analysts have dubbed “The Day of Destiny” for the artificial intelligence industry.
Another record quarter
CFO Colette Kress announced that the company had hit $30 billion in revenue in Q2, a number that was enough to dispel any concerns about an “AI winter.” The revenue beat estimates by about 7%, continuing the company’s record-breaking streak, and has drawn plenty of positive feedback on social media platforms.
Adding to investor sentiment, Nvidia's forecast for record revenue of $32.4 billion will continue in Q3. The company will hold its next earnings call on November 20, CFO Kress said.
Kress said the growth was largely driven by GPU sales, expectations for the company's upcoming Blackwell chips, and strong performance in data services both domestically and internationally, particularly a breakthrough in the Chinese market.
When it comes to the upcoming “Blackwell” platform, Kress said the company is on track to launch the new hardware and software suite, with demand strong. “Blackwell production is expected to begin in Q4 and continue through 2026,” with revenue expected to increase significantly. “Demand is currently outpacing supply, and we expect that to continue into next year,” Kress noted.
AI Industry Outlook
With both Wall Street and the AI industry waiting with bated breath, these results should be cause for some relief. Demand appears to have picked up across most of its business segments, according to the company.
While it remains to be seen exactly what impact these results will have on the AI industry as a whole, many analysts have looked to Nvidia's August 28 earnings call as a good gauge of where the industry is headed.
By beating earnings expectations, Nvidia has confirmed that, at least for now, it remains a leader in artificial intelligence.
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