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The demand for AI chips in China and the United States is skyrocketing

3/9/2023 11:26:58 AM

The semiconductor industry as a whole has declined, and Nvidia has set a historic performance in the second quarter against the trend. On August 23, US time, Nvidia (NASDAQ: NVDA) released its financial report for the second quarter of the 2024 fiscal year ending July 30. The company achieved a revenue of $13.507 billion, a year-on-year increase of 101%, and a non GAAP net profit of $6.74 billion, a year-on-year increase of 422%.

Nvidia's performance significantly exceeded market expectations. According to Reuters Refinitiv, analysts had an average expectation of $11.22 billion for Nvidia's revenue for the quarter and an average expectation of $2.09 per share. Nvidia actually achieved earnings per share of $2.70.

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