Nvidia has once again demonstrated its dominance in the artificial intelligence (AI) sector. The tech giant’s latest earnings call, held on Wednesday, August 28, revealed second-quarter revenue of $30 billion, beating initial estimates by a remarkable $2 billion. This impressive performance has sent ripples of optimism throughout the AI industry, potentially setting the stage for a bullish market response when trading resumes on Thursday, August 29.
The earnings call is eagerly anticipated by investors and analysts alike, as it has significant impact on the AI industry and the broader tech sector. CFO Colette Kress announced that the company’s revenue numbers exceeded forecasts by about 7%, continuing Nvidia’s streak of record quarters.
Adding to the excitement, Nvidia forecast even higher revenue for the upcoming third quarter, with an estimate of between $32.4 billion. This upbeat forecast further bolstered investor confidence, with the next earnings call scheduled for November 20.
Kress attributed the company’s remarkable growth to several factors, including robust GPU sales, growing anticipation for the upcoming Blackwell chips, and strong performance in data services both domestically and internationally. Kress highlighted significant gains in the Chinese market as a key contributing factor to the company’s success.
The CFO also provided insights into the long-awaited “Blackwell” platform, assuring stakeholders that the new hardware and software suite is about to be released amid strong demand. Production is scheduled to start in the fourth quarter and continue into 2026, with revenues expected to rise. Kress emphasized that demand is currently outstripping supply, a trend that is expected to continue into the next year.
Despite the pace of gains, NVDA was down 2.1% in Wednesday’s trading session. Following the earnings announcement, the stock fell 6.89% in after-hours trading and is currently valued at $116.95. Crypto AI tokens have followed suit, with NEAR protocol (NEAR), Artificial Superintelligence Alliance (FET) and Bite tensor (TAO) traded down 3.54%, 5.55% and 3% respectively.