Nvidia's $30B Q2 Sales Shine 🌟 but Shares Drop 5% Amid Investor Concerns

Nvidia reports a stellar $30 billion in Q2 revenue, doubling profits and surpassing expectations. However, shares fall 5% as investors grow cautious about the AI chip giant's outlook.

Nvidia's $30B Q2 Sales Shine 🌟 but Shares Drop 5% Amid Investor Concerns
Benzinga
2.8K views β€’ Aug 30, 2024
Nvidia's $30B Q2 Sales Shine 🌟 but Shares Drop 5% Amid Investor Concerns

About this video

Nvidia reported impressive fiscal second-quarter earnings, with sales surpassing $30 billion, up 122% year-over-year, and profits doubling. Despite beating Wall Street expectations, Nvidia shares dipped 5% in after-hours trading, as investors were disappointed by the narrower margin of outperformance compared to previous quarters. Concerns about potential delays in its Blackwell AI chips also contributed to investor uncertainty. Nvidia's success is largely driven by its data center business, reflecting sustained strong demand for AI infrastructure in the tech sector.

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