Strong AI chip demand fuels Nvidia’s Q2 results well beyond Wall Street’s expectations

Nvidia's latest quarterly results far exceeded Wall Street's expectations, with the computer chip company's high-end artificial intelligence chips driving a substantial surge in revenue, indicating that AI infrastructure spending remains robust. The company disclosed a net income of $59.69 billion, or $2.46 per share, for the May-July period, contrasting with $26.42 billion, or $1.08 per share, in the corresponding quarter of the previous year.

Excluding select items, earnings amounted to $2.22 per share, substantially surpassing the $2.09 per share consensus forecast by analysts from FactSet. Nvidia's revenue more than doubled compared to a year ago, reaching $96.22 billion, which surpassed analysts' average prediction of $92.27 billion. The Santa Clara, California-based company's performance has consistently outperformed analyst expectations over the past three years, often by a significant margin, given Nvidia's high-end chips have become the primary building blocks of AI.

Alongside the elevated profit and revenue, Nvidia's operating expenses increased by 55% to $8.41 billion. For the current quarter, Nvidia projected revenue of approximately $108 billion, which analysts anticipate at $104.86 billion. If Nvidia achieves its revenue target for the August-October period, it would represent a nearly 89% increase from the previous year, suggesting that Nvidia's extraordinary growth rate continues to accelerate.

Shortly after releasing its latest results, Nvidia's shares declined by 1.8% in after-hours trading, ending the regular trading session 1.6% lower and up 12.4% so far in 2026.