Nvidia’s earnings call did not disappoint as CFO Colette Kress announced Q2 earnings of $30 billion, beating its previous estimate by two billion dollars. This bullish signal could buoy the burgeoning artificial intelligence sector as markets reopen on Thursday Aug. 29.
Nvidia held its Q2 earnings call on Wednesday Aug. 28 in what investors and analysts have been treating as a sort of “Groundhog’s Day” for the artificial intelligence industry.
Another record quarter
CFO Colette Kress’ announcement that the company posted a second quarter revenue of $30 billion should be enough to allay any worries over an artificial intelligence winter. These figures beat estimates by about seven percent. This continued the firm’s streak of record-breaking quarters and prompted a litany of positive responses across social media.
Source: X.com
Further boosting investor morale were company projections for record-setting revenues in the amount of $32.4 billion to continue in the third quarter. Per CFO Kress, the company will hold its next earnings call on November 20.
Kress attributed the growth to GPU sales, excitement over the company’s impending Blackwell chips, and positive performance in data services domestically and internationally with specific emphasis on gains in the China 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 appears to have increased across nearly all of 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 earning’s call as a litmus test for whether or not the AI sector was headed in the right direction.
By beating earnings expectations, Nvidia’s shown that, at least for now, it still remains the sector’s leader.
Related: Anthropic’s ‘Artifacts’ turn AI conversations into useful documents