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Nvidia Reports Record Revenue Driven by AI Demand
Nvidia (NASDAQ: NVDA) announced a 62% increase in revenue to $57 billion for its fiscal 2026 third quarter, ending October 26. Data center revenue surged 66% year-over-year, reaching a record $51.2 billion, driven by strong demand for AI accelerators as the company is currently sold out of its cloud GPUs. Non-GAAP earnings per share rose by 60% to $1.30, outperforming analysts’ expectations of $1.26 per share on $55 billion in revenue.
Looking ahead, Nvidia forecasts revenue of $65 billion for the current quarter, a 65% increase from the previous year, along with a projected gross margin of 75%. The company is sitting on $350 billion in orders for its processors, signifying robust growth potential as its data center business is projected to reach a quarterly run rate of $70 billion.
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