Nvidia's AI cash machine just doubled again
Nvidia just posted $96bn in quarterly revenue, more than double what it made a year ago, blowing past Wall Street's expectations and sending shares up nearly 5%. Its data centre division alone raked in $89bn, up 117%, as basically every big tech company (Amazon, Meta, Google, Microsoft) keeps buying its chips to build AI infrastructure. CEO Jensen Huang says AI has hit its "inflection point," and Nvidia now expects $108bn next quarter. The company's market cap sits above $5 trillion, making its fortunes basically a proxy for the whole AI boom.
Why it matters
Roughly 40% of the US stock market is concentrated in ten AI-heavy companies, and Nvidia sits at the center of that web, even funding customers like OpenAI and Anthropic to keep buying its chips. If AI spending ever cools, Nvidia's numbers are the canary in the coal mine.