Fuelled by record AI chip demand, NVIDIA’s Q2 revenue surged 56% to $46.7bn, with just two customers driving nearly 40% of total sales.
NVIDIA reported second-quarter revenue of $46.7 billion, a 56% jump from a year earlier, fuelled by soaring demand for its data centre products. Net income rose 59% to $26.4 billion in the three months ending 27 July, according to the company’s latest filing.
The bulk of growth came from the data centre division, which generated $41.1 billion in sales. That marked a 56% increase year-over-year. Demand for NVIDIA’s Blackwell GB200 and GB300 chips, deployed in its NVL72 rack systems, has been a major driver as cloud providers race to expand artificial intelligence infrastructure.
According to a report by Manufacturing Dive, two customers accounted for a striking 39% of overall revenue. One made up 23% and the other 16%. NVIDIA did not disclose its name but said an ‘AI research and deployment company’ contributed significantly through both direct and indirect purchases.
The firm cautioned investors that reliance on a small number of buyers could continue.
Chief executive Jensen Huang said the company was ramping really hard into data centres, and predicted 2025 would also be a ‘record-breaking year.’ Chief financial officer Colette Kress told analysts that NVIDIA’s full-stack AI platforms are helping cloud firms and enterprises accelerate adoption. She added that AI infrastructure spending could reach $4 trillion by the decade’s end.
Big technology firms including Microsoft, Amazon, Google and Meta are among NVIDIA’s largest buyers. In June, Meta Chief Executive Mark Zuckerberg said the company would spend hundreds of billions of dollars to build vast AI data centres.
Looking forward, NVIDIA expects third-quarter revenue of around $54 billion. The forecast excludes potential H20 chip sales to China, which remain subject to US government licensing. Blackwell chips remain restricted in the Chinese market.
