Nvidia exceeded expectations, artificial intelligence frenzy is in full swing

With the artificial intelligence wind behind it, Nvidia is breaking record after record. The firm’s revenues in the second quarter increased by almost 170 percent.

With the onset of the global economic crisis, Nvidia, which started to experience a decline in its earnings, almost touched a magic wand and the artificial intelligence storm came to its rescue. Shares have more than doubled in the past 12 months.

Nvidia is getting bigger and bigger

According to the second-quarter reports of the year, Nvidia’s total revenue amounted to $13.51 billion, exceeding expectations. Net profit was $6.19 billion. In the same period last year, these figures were $6.7 billion and $1.29 billion.

It was artificial intelligence that made Nvidia fly again. Sales of the data center division increased 170 percent to over $10 billion. The total profit margin, on the other hand, reached a record level of 71.2%. The games division also generated $2.49 billion in revenue, up 22 percent.

The third quarter will be Nvidia’s show period. The firm expects sales to rise again by 170 percent and revenue to reach $16 billion. This figure means a new record for both Nvidia and the chip industry.