Nvidia Revenue Doubles, But Bubble Fears Linger

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 chipmaker beat Wall Street estimates and forecast current-quarter revenue of $108 billion, sending shares up over 4% after hours. CEO Jensen Huang projected fiscal 2028 revenue growth of 70%. Despite the blockbuster results, investor enthusiasm remains tempered. Concerns persist over AI spending sustainability, Nvidia's practice of investing in AI firms that then buy its chips, and rising competition from AMD and hyperscalers developing their own silicon. Nvidia stock has gained just 13% year-to-date.