Nvidia reported that second-quarter revenue more than doubled year on year to $96bn (£71bn), driven by sustained global investment in artificial intelligence infrastructure. The results exceeded Wall Street expectations and prompted a rise in its share price after trading, reinforcing Nvidia’s central role in supplying the computing power behind major AI systems.

Its data-centre division generated $89bn in revenue, up 117% from a year earlier, while the company forecast $108bn for the following quarter. Amazon, Meta, Google and Microsoft all use Nvidia chips, and Nvidia has also invested in AI-dependent firms including OpenAI and Anthropic; despite emerging competition, it remains the world’s most valuable company, valued at more than $5tn.