Quarterly figures: AI boom lifts Nvidia - $60 billion profit
The world's most valuable company, Nvidia, continues to reap the rewards of the AI boom. After a few weak weeks, this also seems to be convincing investors.
Nvidia's revenue and net profit more than doubled in the second quarter compared to the same period last year. The company's CEO, Jensen Huang, stated that the expansion of AI infrastructure is running at full steam, with production of the new Vera Rubin processor architecture now in full swing. Nvidia's products are driving the AI boom, with major cloud companies like Amazon, Google, Microsoft, and Meta investing heavily in AI data centers.
The company's market value now stands at $5.07 trillion, making it the world's most valuable company, with its stock price having risen significantly since the end of 2019. Nvidia achieved a revenue of $96.2 billion and a net profit of $59.7 billion in the second quarter.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
