NVIDIA has once again delivered an eye-popping set of financial results.
In the second quarter, revenue hit $96.2 billion, more than doubling year over year, and came in far above market expectations. The data center business was also $89.0 billion—again, doubling. Even more aggressive is its third-quarter guidance, which went straight to $108.0 billion, higher than the analysts’ average expectation of $104.2 billion. After-hours, the stock price rose only just over four percent—not exactly exaggerated.
Can you believe it? The company has effectively locked in the outlook for next year and even the year after that. The CFO said what’s holding it back isn’t demand, but supply: capacity and long-term supply agreements for key components have already been stacked up to $279.0 billion. In other words, customers are chasing after inventory, but it can’t be produced. This kind of situation is rarely seen in tech stocks.
Of course, there are a few thorns. The third-quarter guidance doesn’t even factor in the business of data center chips in China. The gross margin is guided at 74%, slightly below market expectations. Naturally, the market starts calculating how long the AI spending cycle can keep burning. But then again, this year, the giants have poured more than $730 billion into AI infrastructure—and that trend isn’t something you can turn around in just one or two quarters.
Incredible. A company that sells shovels has somehow taken control of the entire rhythm of the AI gold-rush.
#NVDA #AI算力
In the second quarter, revenue hit $96.2 billion, more than doubling year over year, and came in far above market expectations. The data center business was also $89.0 billion—again, doubling. Even more aggressive is its third-quarter guidance, which went straight to $108.0 billion, higher than the analysts’ average expectation of $104.2 billion. After-hours, the stock price rose only just over four percent—not exactly exaggerated.
Can you believe it? The company has effectively locked in the outlook for next year and even the year after that. The CFO said what’s holding it back isn’t demand, but supply: capacity and long-term supply agreements for key components have already been stacked up to $279.0 billion. In other words, customers are chasing after inventory, but it can’t be produced. This kind of situation is rarely seen in tech stocks.
Of course, there are a few thorns. The third-quarter guidance doesn’t even factor in the business of data center chips in China. The gross margin is guided at 74%, slightly below market expectations. Naturally, the market starts calculating how long the AI spending cycle can keep burning. But then again, this year, the giants have poured more than $730 billion into AI infrastructure—and that trend isn’t something you can turn around in just one or two quarters.
Incredible. A company that sells shovels has somehow taken control of the entire rhythm of the AI gold-rush.
#NVDA #AI算力
