Nvidia posts record $96.2 billion quarter as data center revenue doubles

Nvidia reported record quarterly revenue of $96.2 billion for Q2 fiscal year 2027, ended July 26, 2026 — up 18% from the prior quarter and more than double the $46.7 billion it earned in the same period a year ago. The result cements Nvidia's position as one of the highest-revenue companies in the world, with the company guiding to $108 billion in Q3, which would make it the first chipmaker ever to exceed $100 billion in a single quarter.

Data center revenue — powering AI training and inference workloads for cloud providers, hyperscalers, and AI labs — hit $89 billion, more than doubling year-over-year. Net income reached $59.7 billion, up 126% year-over-year, on gross margins of 75%. Nvidia returned $26 billion to shareholders through buybacks and dividends in the quarter, and still had $99 billion remaining on its repurchase authorization.

Jensen Huang: 'Compute is revenue'

"AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue," CEO Jensen Huang said in the official earnings announcement. Huang pointed to a broadening customer base — a year ago, a single lab drove much of the AI infrastructure buildout; today, multiple frontier labs are scaling in parallel alongside a wave of new AI startups and physical AI applications. Nvidia's Vera Rubin chip platform, the successor to Blackwell, is now in full production.

AI chips dwarf gaming revenue

Nvidia's consumer GPU business — now categorized as edge computing — contributed just $7.2 billion, or about 7.5% of total quarterly revenue. That segment grew 27% year-over-year but was dragged by slow consumer PC sales and elevated memory prices. The gap between Nvidia's AI server business and its gaming roots has never been wider.

The results land as competition intensifies: custom silicon from Google, Amazon, Microsoft, and OpenAI all target the same AI inference workloads. For now, none has visibly slowed Nvidia's trajectory. As reported by The Verge and confirmed via Nvidia's official earnings release.