NVIDIA posts $89B data center revenue, forecasts $108B next quarter
NVIDIA just crushed its second quarter, with data center revenue up 117% to $89 billion, way above expectations.
The company's upbeat forecast for next quarter ($108 billion) and CEO Jensen Huang said AI had reached an inflection point helped boost shares by 4%, even after some initial investor doubts.
NVIDIA says $3.5B exposure small
Over nearly four years, NVIDIA's stock has soared about 1,700%, making it a standout in the tech world.
Big names like Microsoft and Meta are nearly doubling their AI spending this year to more than $730 billion.
Despite some concerns about inflated demand, NVIDIA says its $3.5 billion in maximum gross exposure under all land, power and shell guarantee agreements is small compared to its massive quarterly revenue.
Investors seem reassured about the company's future in AI.