Nvidia Revenue Doubles as AI Chip Demand Surges

Nvidia reported second-quarter revenue of $96.22 billion, up 106% year-over-year, with net income more than doubling to $53.95 billion. The results beat Wall Street estimates, and the company forecast current-quarter revenue of $108 billion, sending shares up 7% the following morning. The data center division drove 92% of total revenue, generating $89 billion. Despite the strong results, investor concerns persist over AI spending sustainability, Nvidia's investments in customer firms, and growing competition from AMD and hyperscalers developing their own chips.