NVIDIA Reports $96.2 Billion Q2 Revenue, Forecasts $108 Billion for Q3

NVIDIA announced second-quarter fiscal 2027 revenue of $96.2 billion, more than doubling year-over-year and up 18% from the previous quarter, driven by strong AI demand, according to the report dated May 20, 2026.

Data center revenue reached $89 billion, marking a 117% increase compared to the prior year. Gross margins stood at 75%, with GAAP earnings per diluted share at $2.46. The company returned about $26 billion to shareholders through buybacks and dividends during the quarter.

Founder and CEO Jensen Huang highlighted the accelerating AI infrastructure buildout, stating, "AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable.

Now, compute is revenue." He also noted the Vera Rubin platform's role in powering AI growth.

NVIDIA outlined plans for the third quarter with expected revenue of $108 billion, plus or minus 2%, excluding Data Center compute revenue from China. GAAP gross margins are forecasted at 74%, with operating expenses around $9.2 billion.

On August 26, 2026, NVIDIA forecasted fiscal 2028 revenue growth of about 70% and announced an expanded partnership with Amazon Web Services to deploy 2 million additional GPUs globally over 2027 and 2028.

Chief Financial Officer Colette Kress said on an earnings call that the company’s shares rose over 4% in after-hours trading, reflecting investor confidence in NVIDIA's growth roadmap.

NVIDIA's revenue more than doubled to $96.22 billion in Q2, surpassing estimates, with data center revenue exceeding $89 billion and beating analyst expectations. The company did not include any data center chip sales from China in its outlook due to ongoing uncertainties.

The company also revealed advancements such as the Vera CPU for AI agents and the Vera Rubin platform, which is ramping into full production with major cloud partners. NVIDIA’s AI chips remain central to global data centers and AI model development, despite growing competition from in-house chips developed by major tech firms.

SpaceX CEO Elon Musk recently confirmed exclusive use of NVIDIA hardware for the company’s AI applications, underscoring NVIDIA's market leadership.