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The chipmaker's China revenue collapsed to 8% of sales while US hyperscalers drove a 106% revenue surge to $96.2 billion.
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Nvidia just posted fiscal Q2 2027 results that tell a very clear story: the company that once earned the lion’s share of its AI chip revenue from Chinese buyers has effectively replaced that entire market with domestic demand. Total revenue hit $96.2 billion, up 106% year-over-year, and almost none of that growth came from China.
Revenue from China, including Hong Kong, came in at $7.88 billion. That’s roughly 8% of total revenue, a fraction of where it once stood. For context, CEO Jensen Huang has acknowledged that Nvidia’s market share in China for advanced AI chips went from approximately 95% to essentially zero.
