Nvidia Hits Six Billion in Pure Profit (1)

Nvidia is riding high on the AI wave, joining the ranks of trillion-dollar giants like Apple and Amazon. The tech company revealed a jaw-dropping $13.5 billion in revenue in its Q2 2024 earnings report. The star of the show? Nvidia's generative AI chips, which have been in sky-high demand, eclipsing the company's desktop and laptop GPUs. The data center segment alone contributed a record $10.32 billion to the revenue, more than doubling in just one quarter.

As a result, Nvidia pocketed a cool $6.188 billion in profit, marking an 843% year-over-year increase. The gaming sector wasn't left behind either; it saw a 22% YoY growth, raking in $2.48 billion. Nvidia is optimistic about the gaming industry's growth and hinted at an upcoming upgrade for gamers.

Nvidia’s Q2 2024, by revenue. Image: Nvidia

The company's stock soared 8.5% in after-hours trading, and they're forecasting a $16 billion revenue for the next quarter, primarily driven by their data center business. Nvidia's next AI chip, the GH200, is set to launch in mid-2024, and the company is ramping up supply to meet the growing demand. Meanwhile, competitors like Intel and AMD are still playing catch-up in the AI chip market. So, it looks like Nvidia's got its game face on, and it's not slowing down anytime soon.