Nvidia, the world’s most valuable company, reported record earnings for the second quarter of 2025.
The chipmaker posted $46.7 billion in revenue, a 56% increase compared to the same period last year.
The company’s data center division remained the main source of growth. Nvidia generated $41.1 billion from the segment, also up 56% year-over-year.
Its latest Blackwell chips contributed $27 billion in sales, a direct reflection of their central role in powering large-scale AI applications.
Chief Executive Officer Jensen Huang emphasized the importance of Blackwell. “Blackwell is the AI platform the world has been waiting for,” he said.
“The AI race is on, and Blackwell is the platform at its center.”
Profit Growth and Revenue Gains
Net income also expanded sharply. Nvidia reported $26.4 billion in profit for the quarter, a 59% increase from last year.
Huang told analysts that global AI infrastructure spending could reach $3 to $4 trillion by the end of the decade. He called that range “fairly sensible” given the pace of adoption.
OpenAI’s Latest Launch
The pace of adoption is seen in OpenAI’s latest launch of the GPT-OSS open-source models.
According to Nvidia, one Blackwell GB200 NVL72 rack-scale system processed 1.5 million tokens per second during the deployment.
China Shipments
Although the company showed a great financial profile, the earnings report revealed challenges in China.
Nvidia confirmed no sales of its H20 chip to Chinese buyers during the quarter. Instead, it recorded $650 million in H20 sales to a customer outside China.
The United States had restricted the export of advanced GPUs to China for years. But under President Trump, a new policy now allows such sales only if companies pay a 15% export tax to the U.S. Treasury.
But legal experts have questioned the measure, describing it as constitutionally dubious.
Chief Financial Officer Colette Kress noted that some Chinese customers have recently received licenses.
Still, she explained, “we have not shipped any H20 devices based on those licenses.” Compounding the issue, Beijing has discouraged local businesses from using Nvidia products.
Reports suggest that Nvidia halted H20 production earlier this month in response.
Strong Outlook
Looking forward, Nvidia projects revenue of $54 billion in the third quarter. The company stated that the forecast, which may vary by 2%, excludes potential H20 shipments to China.
The results confirm Nvidia’s leading role in the global AI supply chain. Once a graphics chip company, it has now become a cornerstone of the AI era.
With demand for advanced computing still rising, Nvidia’s growth trajectory shows little sign of slowing.
