Nvidia reports record $96.2 billion quarter, forecasts $108 billion as AI demand surges

Nvidia reported record quarterly revenue of $96.221 billion and forecast $108.0 billion for the current quarter, the first time the company’s revenue outlook has topped $100 billion, underscoring the continuing surge in demand for artificial intelligence infrastructure.

The dominant AI chipmaker disclosed results for its second quarter of fiscal 2027 on Wednesday for the period ended July 26. According to Nvidia’s Aug. 26 press release and investor relations materials, revenue rose 18% from the prior quarter and 106% from a year earlier, when it reported $46.743 billion.

The growth was driven overwhelmingly by Nvidia’s data center business, which includes the chips and systems used to train and run AI models. Data Center revenue reached $89.0 billion in the quarter, showing that spending on AI-related computing infrastructure remains the company’s main engine of expansion.

Profit also climbed sharply. Nvidia reported GAAP net income of $59.688 billion, GAAP diluted earnings per share of $2.46 and non-GAAP diluted earnings per share of $2.22, according to its Aug. 26 materials. GAAP and non-GAAP gross margins were both 75.0%.

For the third quarter of fiscal 2027, Nvidia said it expects revenue of $108.0 billion, plus or minus 2%. The company also attached an important caveat to that outlook: it said the forecast “is not assuming any Data Center compute revenue from China.” That matters because Nvidia has repeatedly warned in its regulatory filings that U.S. export controls and related restrictions on sales to China pose a material risk to its business.

In the earnings release, Chief Executive Jensen Huang said, “AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue.” Nvidia also said its Vera Rubin platform is “ramping into full production,” with deployments tied to customers and partners including Google Cloud, Microsoft Azure, Oracle Cloud Infrastructure, CoreWeave and Nebius.

The latest report extends a steep upward climb in Nvidia’s sales. Company figures show revenue rose from about $68.1 billion in the fourth quarter of fiscal 2026 to $81.615 billion in the first quarter of fiscal 2027, and then to $96.221 billion in the latest quarter. Because Nvidia sits at the center of the AI buildout, its results are watched well beyond the chip industry as a barometer for demand across data centers, cloud computing and networking infrastructure.