NVIDIA Reports $46.7 Billion Revenue Surge As AI Demand Fuels Record Growth

NVIDIA has once again smashed expectations, reporting $46.7 billion in revenue and $26.4 billion in net income for the second quarter ending July 27. That’s a 56% jump compared to the same period last year, even without shipping its H20 chips to China.

The company had previously estimated that Chinese H20 shipments could have added another $8 billion in sales.

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Instead, NVIDIA only managed to release $180 million worth of H20 units to a customer outside of China. Despite this setback, the tech giant achieved its ninth consecutive quarter of over 50% year-on-year revenue growth, fueled by surging demand for AI infrastructure since 2023.

U.S.–China Tensions Push NVIDIA to Develop New AI Chip

The H20 chip, built specifically for the Chinese market, was blocked from export earlier this year by the U.S. government over concerns it could benefit China’s military. Although restrictions were eased in mid-July, Beijing discouraged local companies from adopting the H20.

In response, NVIDIA is reportedly working on a new AI chip for China based on its advanced Blackwell architecture. Industry watchers believe the product could unlock another wave of revenue for the company, positioning NVIDIA to stay ahead in the global AI chip race.

Blackwell Chips Drive $27 Billion in Sales

NVIDIA’s Blackwell-based AI chips are already proving to be a game changer. The product line delivered $27 billion in sales last quarter, representing 50% of the company’s total data centre revenue and a 17% increase from the previous quarter.

With AI adoption accelerating across industries, analysts expect NVIDIA’s Blackwell architecture and upcoming China-focused chips to further solidify the company’s dominance in the AI hardware market.

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