All eyes are on Nvidia as it prepares to report its earnings. Here's what to expect
Nvidia has led the artificial intelligence boom to become one of the stock market’s biggest companies, as tech giants continue to spend heavily on the company’s chips and data centers needed to train and operate their AI systems
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.
Nvidia has led the artificial intelligence boom to become one of the stock market’s biggest companies, as tech giants continue to spend heavily on the company's chips and data centers needed to train and operate their AI systems. The company is now worth over $3 trillion, with its dominance as a chipmaker cementing Nvidia’s place as the poster child of the AI industry ahead of the release of its latest financial results Wednesday.
Wall Street expects the company to report second-quarter adjusted earnings of 65 cents per share on revenue of $28.74 billion, more than double what it earned in the comparable quarter one year ago, according to FactSet. In the past three quarters, revenue has more than tripled on an annual basis, with the vast majority of growth coming from the data center business.
Demand for generative AI products that can compose documents, make images and serve as personal assistants has fueled sales of Nvidia’s specialized chips over the last year, but Wall Street is also looking for any indication that AI demand is waning.
The Santa Clara, California-based company carved out an early lead in AI applications race, in part because of founder and CEO Jensen Huang's successful bet on the chip technology used to fuel the industry. The company is no stranger to big bets. Nvidia’s invention of the graphics processor unit, or GPU, in 1999 helped spark the growth of the PC gaming market and redefined computer graphics.
Nvidia will release its quarterly earnings after the market closes Wednesday.