Nvidia forecast a 70% jump in revenue for its fiscal year ending January 2028, driven by strong AI demand despite supply constraints [1, 2, 3, 4]. The company reported $96.2 billion in total revenue and $89 billion in data center revenue for the quarter ending July 26, 2026, more than doubling its data center sales from the prior year [1, 2, 3]. Net profit surged 126% year-on-year to $59.7 billion during the same period [3].

CEO Jensen Huang said AI demand exceeds 70% growth, but supply limits sales expansion. He stated, "The unconstrained [growth] would be a lot higher" and called AI the catalyst for revenue, saying, "AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue." Huang added, "The AI infrastructure buildout is at full steam" [1, 2, 3].

Nvidia shipped its first H200 data center chips to China. However, the company does not expect data center revenue from China in the near term [2, 3]. Its customer base spans hyperscalers like Amazon, Microsoft, Alphabet, Meta, and OpenAI, as well as enterprises, neo clouds, and sovereign AI projects. Huang noted hyperscalers represent about half the opportunity with the rest coming from these other sectors [1, 2, 3, 4].

Nvidia's Vera Rubin platform has begun shipping and already accounts for roughly one-fifth of current data center revenue [1]. The company expects neo-cloud providers such as Nebius and CoreWeave to more than double their Nvidia GPU capacity to over 8 gigawatts by the end of 2026, up from 3 gigawatts last year [1].

CFO Colette Kress addressed criticism of circular financing through investments in startups that purchase Nvidia products, saying, "We recognise the scale of this support (to these companies), and we know some will call this circular financing. We see it differently" [3].

Asian chip stocks rallied following Nvidia's earnings report, reflecting optimism about ongoing AI spending momentum [4].

Nvidia's fiscal second quarter ended July 26, 2026, with data center revenue surpassing $89 billion and total revenue hitting $96.2 billion. The company announced its 70% revenue growth forecast and disclosed the China chip shipments a month later on August 26 [1, 2, 3].