Nvidia Q2 revenue beats expectations in record-setting boost to AI sector

Nvidia’s earnings call did not disappoint as its chief financial officer, Colette Kress, announced second-quarter earnings of $30 billion, beating its previous estimate by $2 billion. The bullish results could buoy the burgeoning artificial intelligence sector as markets reopen on Thursday, Aug. 29.

Nvidia held its Q2 earnings call on Aug. 28 in what investors and analysts have been treating as a sort of “Groundhog’s Day” for the AI industry.

Another record quarter

Kress’ announcement that the company posted Q2 revenue of $30 billion should be enough to allay any worries about an AI winter. The figures beat estimates by about 7%, continuing the firm’s streak of record-breaking quarters and prompting positive responses across social media.

Company projections for record-setting revenues of $32.4 billion in the Q3 further boosted investor morale. According to chief financial officer Kress, the company will hold its next earnings call on Nov. 20.

Kress attributed the growth to graphics processing unit sales, excitement over the company’s upcoming “Blackwell” chips, and positive performance in data services domestically and internationally, specifically emphasizing gains in the Chinese market.

Discussing the upcoming Blackwell platform, Kress said the company was on pace to release the new hardware and software suite to strong demand: “Blackwell production is scheduled to begin in the fourth quarter and continue into 2026, with revenues expected to increase. Demand is well above supply, and we expect this to continue into next year,” said Kress.

AI industry outlook

While both Wall Street and the AI industry appeared to be waiting with bated breath, these results should prompt a collective exhale. According to the company, demand seems to have increased across nearly all its verticals.

How this will affect the rest of the AI sector remains to be seen, but many analysts have pointed to the Aug. 28 Nvidia earnings call as a litmus test for whether or not the AI sector was headed in the right direction.

By beating earnings expectations, Nvidia has shown that, at least for now, it remains the sector’s leader.