- Nvidia beat on revenue and profit in Q2 as demand for AI chips continued to soar, lifting chip stocks and the broader tech sector.
- Nvidia reported $96.2 billion in revenue, up 106%, and committed $279 billion to future supply and manufacturing capacity.
- Nvidia paused some financing deals that offered credit support to AI cloud providers in exchange for a share of revenue.
- Nvidia is facilitating more than $500 billion in third-party capital for AI infrastructure development, extending its exposure beyond current chip demand.
Quotes
“the chip giant smashed already lofty expectations.”