Nvidia’s quarterly revenue doubles to $96.2 billion in the three months to late July, the company disclosed, as demand for AI infrastructure showed no sign of abating. The result, covering the second quarter of fiscal 2027, beat analyst expectations of $92 billion and came in 18% above the prior quarter’s $81.6 billion, according to NVIDIA’s Q2 FY2027 newsroom release.
Year on year, revenue was up 106%.
Quarterly Revenue Doubles as Data Centre Carries the Load
The Data Center segment generated $89.0 billion in revenue, up 117% from a year earlier, according to NVIDIA’s SEC earnings filing. The snippet’s reference to $88.3 billion relates to the Compute & Networking sub-segment; the broader Data Center figure, as reported in the SEC filing, is $89.0 billion.
Graphics, which covers gaming and related products, grew 46% year on year to $7.9 billion.
Gross margin held at 75%. Operating income rose 124% year on year to $63.7 billion, according to NVIDIA’s Q2 FY2027 10-Q filing. Net income climbed 126% to $59.7 billion, producing diluted earnings per share of $2.46. On an adjusted basis, EPS was $2.22, up 120%, clearing the consensus estimate of $2.02.
Operating expenses rose 55% year on year and 10% sequentially to $8.408 billion, per the NVIDIA newsroom release.
Supply Commitments Signal Scale of the Build-out
Chief Financial Officer Colette Kress disclosed that supply-chain purchase commitments jumped from $119 billion last quarter to $279 billion in Q2 FY2027, primarily tied to memory procurement, with $3.5 billion in maximum gross exposure under those agreements, according to Yahoo Finance.
The scale of that forward commitment reflects the pressure cloud providers and hyperscalers are placing on the supply chain as AI infrastructure spending accelerates.
For the first half of fiscal 2027, NVIDIA’s cumulative revenue reached $177.8 billion, compared with $90.8 billion in the equivalent period of fiscal 2026, according to the SEC earnings filing.
Chief Executive Jensen Huang described the market shift in unambiguous terms: ‘AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue. And demand is accelerating. This time last year, one lab alone was driving the buildout; today, we have a golden age of new AI labs and startups, multiple frontier labs scaling in parallel, a thriving open-model ecosystem and physical AI coming online, with strong momentum across the U.S. and around the world. The AI infrastructure buildout is at full steam.’
NVIDIA is also reorganising its reporting structure. The company disclosed it will replace the existing Compute & Networking and Graphics segments with two market platforms: Data Center and Edge Computing. Within Data Center, it will report two sub-markets, Hyperscale (public clouds and the largest consumer internet companies) and ACIE (AI Clouds, Industrial and Enterprise), per the NVIDIA Q1 FY2027 newsroom release that first outlined the framework.
NVIDIA shares fell around 1% in after-hours trading following the release, with expectations having been elevated going into results.
The company guided for Q3 FY2027 revenue of $108 billion, implying sequential growth of roughly 12% from the Q2 result.
The Q3 guidance figure is the next hard test: whether order momentum from frontier AI labs and enterprise customers translates into another sequential step-up, or whether the pace of the build-out begins to moderate.
