Nvidia, the world’s top chipmaker, has posted record earnings fueled by booming demand for artificial intelligence.
For the May–July quarter, revenue surged to $46.74 billion, up 56% from last year, while profit jumped 59% to $26.42 billion. Despite the strong results, Nvidia’s stock fell over 3% in after-hours trading due to already high investor expectations, with the company’s market value topping $4.4 trillion.
CEO Jensen Huang said production of its new Blackwell Ultra platform is running at full speed, calling demand “extraordinary” and declaring that “the AI race is on.” Nvidia forecasts around $54 billion in revenue for the next quarter, slightly above Wall Street estimates.
However, challenges remain. US export restrictions limited sales to China, and while the US recently lifted a ban on Nvidia’s H20 chip, Beijing has reportedly urged local firms to avoid the company.
Nvidia’s stock has multiplied over eleven times since early 2023, making it the face of the global AI boom. Yet, experts warn of possible overhype, with some questioning whether this explosive growth may eventually lead to a bubble.
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