분기 매출 133조 찍은 엔비디아…“AI 변곡점 도달했다”

NVIDIA, a leader in the artificial intelligence (AI) semiconductor market, has once again set a record-breaking quarterly performance. As concerns persist about the market after a peak in AI investments, NVIDIA expressed confidence that demand for AI semiconductors will continue. The company revealed on May 26 that its revenue for the second quarter of the fiscal year (May to July) reached $962 billion 211,000, a 106% increase year-over-year.

This marked the 13th consecutive quarter of record-breaking revenue, surpassing Wall Street's forecast of $922 billion to $923 billion. Net income for the period stood at $2.22 per share, surpassing the estimated $2.1 per share. Operating income and net income both surged 124% and 126% year-over-year, respectively, compared to the previous quarter's 19% and 2.3% growth.

NVIDIA's data center business, encompassing AI chips, drove the overall revenue, increasing by 117% and 18% year-over-year and accounting for 92% of total sales. NVIDIA CEO Jensen Huang declared that "AI has reached a turning point" and that tokens, which AI uses to process text and information, are valuable and profitable. The company anticipates continued growth in the next quarter and expects revenue to rise by 12% to $1.08 trillion (approximately $149 trillion) in the second quarter.

However, soaring memory semiconductor costs pose a pressure on margins. For Q2, NVIDIA maintains a high gross margin rate of 75%, but expects it to decline to 71-72% by the fourth quarter this year and recover to 72-73% levels next year. CFO Collete Cres noted in a conference call that memory prices have risen more than expected and will likely continue to do so next year, impacting profitability.

NVIDIA plans to offset the cost increase by partnering closely with memory suppliers and raising product prices. The company also announced a 15% or more price increase for AI servers to major customers, set to apply from next year's shipments. NVIDIA's stock fell 1.59% during regular trading but surged 4.71% in after-hours trading.

Despite the positive earnings, market expectations are rising, with Bloomberg noting that it's becoming increasingly difficult to satisfy investors.