Nvidia revenue doubles over last year, as company forecasts record growth

Nvidia posted $96.2 billion in revenue for Q2, up 18 percent from the previous quarter and up 106 percent from a year ago.

The company said that GAAP and non-GAAP gross margins were both 75 percent. Company CFO Colette Kress said Nvidia expects fiscal 2028 revenue growth of 70 percent, significantly above market expectations.

– Sebastian Moss

“AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue,” said Jensen Huang, founder and CEO of Nvidia.

“And demand is accelerating. This time last year, one lab alone was driving the buildout; today, we have a golden age of new AI labs and startups, multiple frontier labs scaling in parallel, a thriving open-model ecosystem and physical AI coming online - with strong momentum across the US and around the world. The AI infrastructure buildout is at full steam. Vera Rubin, now in full production, was built to power exactly this moment.”