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NVIDIA reported $96.2 billion in fiscal second-quarter revenue as Data Center sales more than doubled from a year earlier.
Revenue for the quarter ended July 26 rose 106% year over year and 18% from the previous quarter. Data Center revenue reached $89 billion, up 117% from a year earlier and 18% sequentially.
Data Center Revenue Reaches $89B as Vera Rubin Ramps
Data Center accounted for more than 92% of NVIDIA’s quarterly revenue, up from $75.2 billion in the previous quarter.
NVIDIA said Vera Rubin is ramping into full production, with racks running at CoreWeave, Google Cloud, Microsoft Azure, Oracle Cloud Infrastructure and Nebius. The company began production shipments earlier in August and expects Vera Rubin to account for about 20% of Data Center revenue in the third quarter.
NVIDIA also announced financing partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR designed to mobilize more than $500 billion in third-party capital for AI infrastructure over time. The partnerships remain subject to definitive agreements.
Quarterly Net Income Rises 126% to $59.7B
GAAP net income reached $59.7 billion, up 126% from the same quarter last year. Diluted GAAP earnings per share rose to $2.46 from $1.08, while non-GAAP earnings reached $2.22 per diluted share.
GAAP and non-GAAP gross margins were both 75%. NVIDIA returned about $26 billion to shareholders through share repurchases and cash dividends during the quarter.
Edge Computing revenue reached $7.2 billion, up 27% year over year and 13% from the previous quarter.
NVIDIA Guides Q3 Revenue to $108B
NVIDIA expects fiscal third-quarter revenue of $108 billion, plus or minus 2%, with GAAP and non-GAAP gross margins of about 74%.
The forecast assumes no Data Center compute revenue from China. NVIDIA also warned during its earnings call that rising component costs and what it called extreme memory pricing will pressure margins, with gross margin expected to fall further in the fourth quarter.
Vera Rubin is expected to contribute about 20% of Data Center revenue in Q3 as production shipments expand, giving the new architecture an immediate role in NVIDIA’s next-quarter growth outlook.
