Nvidia on Wednesday reported a 56% jump in second-quarter revenue and a 59% rise in net income compared with last year, but its stock slipped in after-hours trading after sales in its key data center division fell slightly short of Wall Street expectations, says the Independent.
The company booked $46.74 bn in revenue for the May–July period and forecasted about $54 bn for the current quarter. Despite the miss in its core unit, Nvidia has been one of the driving forces behind the AI boom that has powered the S&P 500 to record highs this year.
Nvidia’s market value closed Wednesday at $4.43 trillion, making it the most valuable company in the S&P 500, ahead of Microsoft and Apple. The chipmaker’s stock has surged 1,143% since early 2023 and remains up about 35% this year.
CEO Jensen Huang, whose net worth is now estimated at $157.7 bn, has overseen Nvidia’s transformation into the dominant supplier of AI chips. The company also returned $24.3 bn to shareholders in the first half of fiscal 2026 through dividends and buybacks.
While tariffs and U.S. trade policy have raised broader economic concerns, Nvidia and other AI-driven tech firms continue to generate profits at a scale that reshapes both Wall Street and Silicon Valley.
Kursiv Uzbekitan also reports that The Bill & Melinda Gates Foundation has quietly stopped funding nonprofit groups managed by Arabella Advisors, a Washington.
