NVIDIA's Second Quarter Blows Past Expectations: $96.2 Billion in Revenue, Data Center Business Now the Size of a Fortune 50 Company
NVIDIA just posted numbers that are hard to wrap your head around. For the quarter ended July 26, 2026, the chipmaker pulled in $96.2 billion in revenue up 18% from the prior quarter and more than double (106%) what it made a year ago. Gross margins held steady at a healthy 75% on both a GAAP and non-GAAP basis, while diluted earnings per share came in at $2.46 (GAAP) and $2.22 (non-GAAP).
Jensen Huang, NVIDIA's founder and CEO, framed the results as proof that AI has crossed a threshold: "AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue." He pointed to a shift from a single lab driving demand a year ago to today's landscape of multiple frontier labs, a booming open-model ecosystem, and physical AI coming online worldwide with the newly-shipping Vera Rubin platform built specifically to meet this moment.
The Data Center engine keeps roaring. This segment alone generated $89.0 billion up 18% quarter-over-quarter and a staggering 117% year-over-year. Vera Rubin racks are now live at major cloud partners including CoreWeave, Google Cloud, Microsoft Azure, Oracle Cloud Infrastructure, and Nebius. NVIDIA also unveiled Vera, which it's calling the first CPU purpose-built for AI agents, alongside the Groq 3 LPX inference accelerator, now in full production.
The compa...