Nvidia has exceeded its own expectations, generating $46.7 billion in revenue and $26.4 billion in net profit between May and July – even though sales of its H20 GPUs to China remain banned. Annual growth reached up to 59%, driven by continued strong demand for AI. While sales of AI accelerators dipped slightly, the networking and gaming divisions hit new record highs.
Networking revenue jumped 46% compared to the previous quarter. For the next quarter, Nvidia expects $54 billion in revenue, mainly thanks to the new Blackwell (GB300) GPUs. Still, the stock dropped 2.5% as investors had hoped for even stronger numbers.