Nvidia Crushes Q2 Revenue Expectations with $96.2 Billion Haul

Nvidia reported its Q2 revenue of $96.2 billion, marking an 18% increase from the previous quarter and a 106% year-over-year jump.

Gross margin stood at 75%, while operating expenses rose by 10% to $8.4 billion. Net income reached $59.6 billion, up 2% from Q1 and 126% from Q2 last year.

Founder and CEO Jensen Huang noted that AI has reached an inflection point, with 'AI tokens' now productive and profitable. He also mentioned a 'golden age of new AI labs and startups,' with multiple frontier labs scaling in parallel.

Nvidia returned approximately $26 billion to shareholders through share repurchases and cash dividends during the quarter. The company had around $99 billion remaining under its share repurchase authorization as of Q2.