This is the best summary I could come up with:
Nvidia’s second-quarter earnings, which were reported Wednesday after markets closed, prove there is money to be made — and lots of it — selling the picks and shovels of the generative AI boom.
Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” Nvidia founder and CEO Jensen Huang said in a statement.
A number of cloud service providers recently announced plans to adopt Nvidia H100 AI hardware in their data centers, according to Huang, who added that enterprise IT system and software providers also announced partnerships to bring Nvidia AI to every industry.
Nvidia reported GAAP net income of $6.18 billion compared to $656 million it earned in the same year-ago period — upwards of a ninefold gain.
Nvidia’s data center business generated $10.32 billion in revenue, up 141% from the previous quarter and up 171% from a year ago.
“The world has something along the lines of about a trillion dollars worth of data centers installed in the cloud,” Huang said during the company’s earnings call Wednesday.
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