Nvidia Made $30 Billion In Q2 2024 Amid Continuing AI Domination

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Sajjad

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Today, Nvidia reported its revenue for the second quarter of the year, which is around $30 billion. This is 16% more than the previous quarter and 122% more than the same period last year.

Why it matters: If we compare Nvidia’s stock value from last year, it increased by 160%. New reports indicate that many employees have also become millionaires. This could be true, as the stock value increased by almost 2,900% in five years. All of this is thanks to AI.

Jensen Huang, founder and CEO of Nvidia, also made an encouraging statement about the future.

Hopper demand remains strong, and the anticipation for Blackwell is incredible. Nvidia achieved record revenue as global data centers are in full throttle.

The CEO confirmed that Blackwell samples are on their way to partners and other buyers. He concluded the statement by saying that generative AI would revolutionize every industry.

As this revolution approaches, Nvidia is expected to be at the forefront. The company paid out $15.4 billion in cash dividends and share repurchases to shareholders in the first half of fiscal 2025.

Its share repurchase authorisation was worth $7.5 billion. At the end of the second quarter, the Board of Directors authorised an additional $50.0 billion in share repurchases on August 26, with no expiration date.

Nvidia’s data center division brought in a record $26.3 billion in sales during the second quarter. This was up 154% from 2023 and 16% from the preceding quarter. This was made possible by the H200 GPUs and with the release of new Blackwell GPUs, which are based on the B200 technology.

Meanwhile, the business made $2.9 billion in gaming revenue, up 16% from a year ago and 9% from the previous quarter. This also includes consumer PCs with AI.

The automotive and robotics department generated revenues of $346 million, which is 5% higher than in the previous quarter and 37% higher than a year ago. For the next quarter, Nvidia wants to have estimated revenues of $32.5 billion.