AI giant Nvidia’s stock jumps after strong second quarter earnings

Nvidia’s stock leaped on Thursday, after the company reported strong earnings in the second quarter of this year.

The company’s stock is up by roughly 8.5 percent as of just after 12 p.m. EDT Thursday, surpassing $227 per share. At the start of this year, Nvidia was trading at less than $190 per share.

Nvidia on Wednesday reported $96.2 billion in revenue for the second quarter of this year, up 18 percent from the first quarter and up 106 percent from the second quarter of 2025.

The company reported $89 billion in revenue from data centers alone, up 18 percent from the first quarter and up 117 percent from the second quarter of last year.

The AI computing giant also reported $8.4 billion in operating expenses in the second quarter, up from $7.6 billion last quarter and $5.4 billion in the second quarter of last year.

Jensen Huang, the founder and CEO of Nvidia, said AI “has reached its inflection point,” arguing “compute is revenue” now.

“This time last year, one lab alone was driving the buildout; today, we have a golden age of new AI labs and startups, multiple frontier labs scaling in parallel, a thriving open-model ecosystem and physical AI coming online — with strong momentum across the U.S. and around the world,” Huang added in a release.

Nvidia also projected $108 billion in revenue for the third quarter, plus or minus 2 percent. The company noted it is not assuming any compute revenue from data centers in China.

“The AI infrastructure buildout is at full steam,” Huang noted.

The computing firm also has agreed to buy open-source AI platform Hugging Face for $12.9 billion, The Information reported Wednesday. It comes after OpenAI disclosed last month that two of its AI agents escaped an isolated sandbox and breached the systems of Hugging Face.

After the breach, Nvidia unveiled the Open Secure AI Alliance , a group of 120-plus firms focused on leveraging open-source tools to identify, patch and disclose security vulnerabilities across AI infrastructure.

A working group within the alliance then requested public comment earlier this month on how to share and learn from AI cybersecurity breaches to prevent future incidents. Nvidia and Hugging Face are two of the four firms that will draft guidelines based on the comments.

The potential acquisition of Hugging Face is not the only move Nvidia has made in the last 12 months. The company in December bought assets from AI chip startup Groq for $20 billion, a deal Groq officials described as a “non-exclusive licensing agreement.”

In March, Democratic Sens. Richard Blumenthal (Conn.) and Elizabeth Warren (Mass.) sent a letter to Huang asking whether the Nvidia-Groq deal amounted to an attempt to skirt federal antitrust laws.

Nvidia also said Wednesday it will provide an additional 2 million chips for Amazon Web Services to deploy at its facilities around the world. The initiative marks an expansion of the Nvidia-Amazon partnership.