Strong AI chip demand fuels Nvidias Q2 results well beyond Wall Streets expectations

Nvidia’s latest quarterly results once again blew past Wall Street’s expectations as revenue for the computer chip company’s high-end artificial intelligence chips soared, the latest sign that AI infrastructure spending remains strong.

The company reported on Wednesday net income of $59.69 billion, or $2.46 per share, for the May-July period. That compares to net income of $26.42 billion, or $1.08 per share, in the same quarter last year.